- Sabre CorpSABR reported a first-quarter FY21 revenue decline of 50% year on year to $327.5 million, missing the analyst consensus of $410.59 million.
- Travel Solutions revenue declined 52% to $288.9 million, and Hospitality Solutions revenue fell 29% to $42.2 million.
- Bookings environment rose 15% quarter-on-quarter. North American air bookings and global hotel bookings noted the strongest growth.
- Operating loss rose 34% to $202.6 million from the pandemic-induced revenue decline.
- Adjusted net loss per share was $0.72, missing the analyst consensus adjusted net loss per share of $0.54.
- Adjusted EBITDA loss was $109.5 million with a negative margin of 33.4%.
- The company used up $197.4 million in operating cash flow and exited the quarter with $1.3 billion in cash and equivalents.
- Guidance: The company did not offer a business outlook due to the pandemic-induced uncertainty.
- Price action: SABR shares traded lower by 7.86% at $13.88 on the last check Tuesday.
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