Loading...
Loading...
- Sabre Corp (NASDAQ: SABR) reported third-quarter FY22 revenue growth of 50% year-on-year to $663.4 million, missing the consensus of $702 million.
- Revenue growth was driven by higher global air, hotel, and other travel bookings reflecting continued recovery from the pandemic.
- Travel Solutions' revenue rose 55% Y/Y to $603.6 million and saw a positive operating income of $69.1 million. Distribution revenue grew 76% Y/Y to $430.8 million, and IT Solutions revenue increased 19% Y/Y to $172.8 million.
- Hospitality Solutions' revenue increased by 22% Y/Y to $67.5 million, while the operating loss widened to $(11.3) million.
- The adjusted EBITDA margin improved from (12.5)% to 5.2%.
- Adjusted loss per share of $(0.25) missed the consensus loss of $(0.23).
- Free Cash Flow was negative $(123) million and held $803.8 million in cash and equivalents.
- Outlook: Sabre reiterated its FY22 revenue outlook of $2.3 billion - $2.6 billion at 50% bookings recovery (% of 2019), $2.7 billion - $3.0 billion at 60% bookings recovery, and $3.0 billion - $3.3 billion at 70% bookings recovery.
- Sabre will be free cash flow positive in Q4 of 2022 and expects to be free cash flow positive in 2023 and annually after that.
- Price Action: SABR shares traded lower by 5.71% at $5.61 on the last check Wednesday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in