8-K
filed February 15, 2024, 6:59 PM ET
ticker SABR
CIK 0001597033
earnings
confidence high
sentiment positive
materiality 0.75
Sabre reports Q4 rev $687M (+9% YoY); FY rev $2.9B (+15%); guides FY24 rev ~$3.0B, Adj EBITDA >$500M
Sabre Corp
2023-FY EPS reported
-$1.56
revenue$2,907,738,000
- Q4 revenue $687M (+9% YoY); net loss $96M ($0.26/share); adjusted EBITDA $96M vs $1M prior year.
- Full-year revenue $2.9B (+15% YoY); net loss $542M ($1.56/share); adjusted EBITDA $337M vs $65M in 2022.
- Travel Solutions revenue +14% to $2.6B; Distribution rev +27% to $2.1B on 18% higher bookings (355M).
- Hospitality Solutions revenue +19% to $304M; CRS transactions +10% to 122M; adjusted EBITDA $13M (vs -$30M).
- 2024 guidance: Q1 rev ~$750M, Adj EBITDA ~$115M; FY rev ~$3.0B, Adj EBITDA >$500M, positive free cash flow.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Sabre Corp reported the quarter ended December 31, 2023 results: revenue $687 million, net income $96 million, EPS $0.26.
- Period
- the quarter ended December 31, 2023
- Revenue
- $687 million
- Net income
- $96 million
- EPS
- $0.26
- Result
- reported results
Exact text from the filing
Sabre consolidated fourth quarter revenue totaled $687 million, a 9% improvement versus $631 million in the fourth quarter of 2022. Revenue growth was driven by an increase in global air, hotel, and other travel bookings and favorable rate impacts in the Company's Travel Solutions business as international and corporate bookings continued to improve. Operating income was $37 million, an improvement versus operating loss of $55 million in the fourth quarter of 2022. The improvement in operating results was driven by the items impacting revenue described above, lower labor and professional services costs driven by our cost reduction plan, lower depreciation and amortization, and a decrease in technology expenses including cost savings related to our mainframe offloads and data migrations. These impacts were partially offset by increased Travel Solutions incentive expenses and Hospitality Solutions transaction-related costs. Net loss attributable to common stockholders totaled $96 million
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Sabre Corp reported the year ended December 31, 2023 results: revenue $2.9 billion, net income $542 million, EPS $1.56.
- Period
- the year ended December 31, 2023
- Revenue
- $2.9 billion
- Net income
- $542 million
- EPS
- $1.56
- Result
- reported results
Exact text from the filing
For the full year 2023, Sabre consolidated revenue totaled $2.9 billion, a 15% improvement versus $2.5 billion for the prior year. Revenue growth was driven by an increase in global air, hotel, and other travel bookings and favorable rate impacts in the Company's Travel Solutions business as international and corporate bookings continued to improve. Operating income was $47 million, a significant improvement versus operating loss of $261 million in 2022. The improvement in operating results was driven by the items impacting revenue described above, lower labor and professional services costs driven by our cost reduction plan, a decrease in stock-based compensation, a decrease in legal costs, lower depreciation and amortization, and a decrease in technology expenses including cost savings related to our mainframe offloads and data migrations. These impacts were partially offset by increased Travel Solutions incentive expenses and Hospitality Solutions transaction-related costs, a $72 mi
View on SEC.gov
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