Q2 2024 Sabre Corp Earnings Call Transcript
Key Points
- Sabre Corp (SABR) exceeded its second quarter financial guidance, delivering steady revenue growth and a significant increase in adjusted EBITDA.
- The company generated positive second quarter free cash flow for the first time in five years.
- Sabre Corp (SABR) increased its full-year 2024 revenue and adjusted EBITDA guidance.
- The company achieved solid year-on-year revenue growth driven by higher distribution booking fees and increased CRS transactions in Hospitality Solutions.
- Sabre Corp (SABR) secured significant commercial wins and partnerships, including new agreements with major travel agencies and airlines.
- Air distribution bookings declined 1% year-over-year, driven by softness in Asia group bookings and Latin America bookings.
- There was general softness with leisure intermediary bookings, impacting overall performance.
- The company faces risks and uncertainties that may cause actual results to differ materially from forward-looking statements.
- The transition to offer and order systems in the airline industry is expected to be a long-term process, potentially taking several years.
- Despite positive trends, the company anticipates seasonally lower revenue and adjusted EBITDA in the fourth quarter.
Good morning, and welcome to the Sabre Second Quarter 2024 Earnings Conference Call. My name is Rica, and I will be your operator. As a reminder, please note today's call is being recorded. I will now turn the call over to the Senior Vice President, Investor Relations and Treasurer, Brian Evans. Please go ahead, sir.
Thank you, and good morning, everyone. Welcome to Sabre's Second Quarter 2024 Earnings Call. This morning, we issued an earnings press release, which is available on our website at investors.sabre.com. A slide presentation, which accompanies today's prepared remarks is also available during the call on the Sabre Investor Relations web page. A replay of today's call will be available on our website later this morning.
We advise you that our comments contain forward-looking statements that represent our beliefs or expectations about future events, including the effects of growth strategies, distribution volumes, benefits from our technology transformation commercial and strategic arrangements and
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