Sabre Corporation ("Sabre") (NASDAQ: SABR) will host a live webcast of its first quarter 2020 earnings conference call on May 8, 2020 at 9:00 a.m. ET. Management will discuss the financial results, as well as comment on the impact of COVID-19 on the business and actions taken by management. The webcast is expected to last approximately one hour and will be accessible by visiting the Investor Relations section of Sabre's website at investors.sabre.com.
Sabre's (SABR) first-quarter results reflect adverse impacts of coronavirus on the business.
Sabre Corporation ("Sabre") (Nasdaq: SABR) today announced that its wholly-owned subsidiary Sabre GLBL Inc. ("Sabre GLBL") has closed private offerings of (1) $775,000,000 aggregate principal amount of its 9.250% senior secured notes due 2025 (the "Secured Notes") and (2) $345,000,000 aggregate principal amount of its 4.000% senior exchangeable notes due 2025 (the "Exchangeable Notes" and together with the Secured Notes, the "Notes"). The principal amount of Secured Notes and Exchangeable Notes sold reflects an increase from the initially announced size of each of the respective offerings and the principal amount of Exchangeable Notes sold also reflects the initial purchasers' exercise in full of their option to purchase additional Exchangeable Notes. The net proceeds from the sales of the Notes will be used for general corporate purposes.
Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced financial results for the quarter ended March 31, 2020. Sabre has posted its first quarter 2020 earnings release, earnings presentation and prepared remarks to its Investor Relations webpage at investors.sabre.com/results.cfm. The earnings release is also available on the Securities and Exchange Commission's website at www.sec.gov.
Recent stay-at-home orders have gutted the travel industry, which drives a majority of the revenue for technology company Sabre. The Southlake, Texas-based company's software-processing revenue comes from helping travel companies sell and market products, process transactions, and manage operations. The coronavirus pandemic prompted a grisly decline in Sabre's net airline bookings, which declined by 23 […]
Sabre (SABR) delivered earnings and revenue surprises of 14.71% and 0.88%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Q1 2020 Sabre Corp Earnings Call
Investors need to pay close attention to Sabre (SABR) stock based on the movements in the options market lately.
Sabre said Friday it would no longer pursue its acquisition of Farelogix. The move came after a ruling by UK regulators prohibiting the transaction. The Southlake, Texas-based travel software company made an offer for Farelogix valued at about $360 million in November 2018. The UK's Competition and Markets Authority (CMA) in early April ruled against […]
Sabre Corporation ("Sabre") (Nasdaq: SABR) today announced that its wholly-owned subsidiary Sabre GLBL Inc. ("Sabre GLBL") has priced private offerings of (1) $775,000,000 aggregate principal amount of its 9.250% senior secured notes due 2025 (the "Secured Notes") and (2) $300,000,000 aggregate principal amount of its 4.000% senior exchangeable notes due 2025 (the "Exchangeable Notes" and together with the Secured Notes, the "Notes"). Sabre GLBL has granted the initial purchasers of the Exchangeable Notes an option to purchase on or before April 26, 2020, up to an additional $45,000,000 aggregate principal amount of Exchangeable Notes.
Shares of Sabre (NASDAQ:SABR) were unchanged at $6.68 after the company reported Q1 results.Quarterly Results Earnings per share were down 185.29% over the past year to ($0.29), which beat the estimate of ($0.32).Revenue of $658,977,000 lower by 37.18% year over year, which missed the estimate of $666,890,000.Outlook Sabre hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: May 08, 2020View more earnings on SABRTime: 11:04 PM ETWebcast URL: https://edge.media-server.com/mmc/p/i22pjrt4Technicals Company's 52-week high was at $25.4452-week low: $3.30Price action over last quarter: down 53.93%Company Description Sabre holds the number-two share of global distribution system air bookings (38.8% as of the end of 2019 versus 37.1% in 2018). The global distribution system segment represented 73% of total 2019 revenue. The company also has a growing IT solutions division (27% of revenue) that focuses on the airline, hospitality, and travel agent end markets. Transaction fees, which are tied to volume and not price, account for the bulk of revenue and profits.See more from Benzinga * 10 Technology Stocks Moving In Monday's Pre-Market Session * 12 Technology Stocks Moving In Monday's Pre-Market Session * Morning Market Stats in 5 Minutes(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Chalk up another blown-up travel-related acquisition deal to the coronavirus pandemic. In this one, Maine-based Wex Inc. informed the UK's Travelport that it will not close on its $1.7 billion agreement to buy eNett and Optal, payment solutions providers, because the Covid-19 pandemic created a materially adverse effect. Travelport, which controls eNett, and Optal shareholders, […]
(Bloomberg Opinion) -- Hedge fund boss Paul Singer began warning employees at Elliott Management Corp. to prepare for quarantines as early as the start of February, well over a month before New York finally mandated a lockdown.Though Singer was quick to realize how the new coronavirus would transform our lives, his prescience had its limits. It couldn't keep one recent investment — Elliott’s $4.4 billion debt-laden buyout of Travelport Worldwide Ltd., completed last May together with partner Siris Capital — from taking a battering in the ensuing economic turmoil.Travelport’s revenues are now in free fall because airlines have grounded most of their fleets and the travel agents that use its computer-reservation systems to book flights and hotels barely have any customers. Travelport’s parent company has been downgraded by the major rating agencies and some $3.3 billion in so-called leveraged loans that Elliott used to fund the purchase are quoted at distressed levels. Based in the U.K., Travelport operates one of three dominant global distribution systems for travel bookings. While they aren’t household names, these digital platforms perform a crucial service. They allow airlines and hotels to market their wares to online and high-street travel agents, as well as corporate travel departments.(1) Half the world’s air bookings are made directly with airlines’ call centers or on their websites; the vast majority of the rest are processed by the GDS.(3)The GDS operators skim off a small fee from the airlines for each booking. These cash flows, plus the industry’s oligopolistic structure, are catnip for the buyout crowd — rivals Amadeus IT Group SA and Sabre Corp., now publicly listed, were also owned by private equity at one point. Such is the industry’s concentration that the U.K.’s Competition and Markets Authority last week blocked Sabre’s takeover of travel-software peer Farelogix Inc.Now, a once-resilient business model looks increasingly vulnerable. GDS bookings have fallen about 80% compared to a year ago, according to Amadeus, while Sabre said net bookings (gross bookings less cancellations) turned negative in March.The drastic measures that these two have taken to shore up their finances suggest the outlook for Elliott’s acquisition — part of the hedge fund’s recent push into private equity — is far from rosy.Amadeus has scrapped its dividend, boosted credit lines and raised 1.5 billion euros ($1.6 billion) via a share issue and convertible bond offering to ensure it has sufficient cash on hand to meet upcoming debt maturities. The Madrid-based company’s ease in raising capital (it issued shares at only a modest discount) doubtless had something to do with its comparatively modest borrowings: net debt was 1.2 times a measure of cash earnings at the end of December. The shares have declined 37% so far this year, which isn’t too bad under the circumstances.By contrast, Texas-based Sabre had net debt of 3.1 times Ebitda at the end of last year. The shares have since lost almost three-quarters of their value. This week the company had to offer bond investors a 9.25% coupon to persuade them to purchase $775 million in new debt; Sabre’s $2.6 billion pile of goodwill is being reviewed for possible impairment and it warned bad debts could rise.Gross leverage at Travelport, the smallest of the GDS providers, is even higher at around 7 times Ebitda, according to Standard & Poor’s, which noted the company must devote $250 million annually just to servicing its borrowings. Proceeds from January’s $1.7 billion agreed sale of Travelport’s eNett payments business should boost liquidity later this year, providing the deal closes as planned.(5) Even so, Travelport’s $2.8 billion senior secured first-lien term loan, due in 2026, is marked at about 60 cents on the dollar, having dipped below 50 in mid-March. That big discount is indicative of worries that efforts to curb the coronavirus won’t be followed by a swift recovery in passenger demand and, by extension, Travelport’s sales.Sabre highlighted a danger that consumer attitudes toward travel will change “in a lasting way.” Cash-strapped corporate travel departments may decide that videoconferencing really is a decent alternative to flying.Even if airline customers and travel-agent partners can remain in business in the coming months, there will be pressure on the GDS providers to lower the fees they charge. The airlines’ financial struggles may encourage some of them to avoid ticket distribution fees altogether by steering more customer bookings to their own websites — a trend that preceded the coronavirus. While the current crisis is unprecedented, Elliott did have some forewarning that Travelport might not be a straightforward investment. On the eve of the last recession, private equity giant Blackstone Group Inc. acquired Travelport for $4.3 billion.Amid massive upheaval in the U.S. airline industry, Travelport reported a string of annual losses and at one point flirted with bankruptcy. Blackstone’s equity was later heavily diluted in a recapitalization by debt holders.(4) The company finally went public in 2014, eight years after Blackstone first invested. History doesn’t repeat itself, but the annals of private equity sometimes rhyme.(1) There are also GDSs focused on local markets, such as China’s TravelSky Technology Ltd(2) See this recent analysis by the UK's Competition and Markets Authority.(3) Travelport can expect about $650 million in proceeds, according to Fitch Ratings(4) Blackstone still did ok from the deal because Travelportpaid out a dividend shortly after the initial purchase.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Federal Reserve Chairman Jerome Powell warned that "recovery may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems," and those remarks took their toll on investor confidence. As of 1:45 p.m. EDT today, shares of flight and hotel reservations services Sabre (NASDAQ: SABR) were down 9.6%, while Expedia Group (NASDAQ: EXPE) took a smaller, 3.7% hit. Hotel operator Marriott International (NASDAQ: MAR), meanwhile, was down 3.7%.
Image source: The Motley Fool. Sabre Corp (NASDAQ: SABR)Q1 2020 Earnings CallMay 8, 2020, 9:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood morning, and welcome to the Sabre First Quarter 2020 Earnings Conference Call.
Coronavirus-led lockdown hits the travel industry hard, in turn hurting Sabre's (SABR) global travel bookings, financial condition and operating results in Q1.
Sabre Corp. is furloughing about one-third of its employees as the travel software company grapples with a hard-hit industry. “With no clear indication of when travel may resume, we are forced to make the difficult decision to take the next step and furlough approximately one-third of Sabre’s global workforce,” the company said in an emailed statement. “Rest assured, Sabre is committed to maintaining its rigor and focus on cybersecurity, data privacy and supporting the core operations, critical business functions and services for our customers.”
Sabre Corporation (NASDAQ: SABR), the leading software and technology company powering the global travel industry, today announced an expansion of its long-standing relationship with Southwest Airlines.
Sabre (SABR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Stocks are hopping Monday, with shares of online travel agencies (OTA) holding company Booking Holdings (NASDAQ: BKNG) up a whopping 14% in noonday trading, and rival Expedia Group (NASDAQ: EXPE) doing even better -- up 16%. Sabre Corporation (NASDAQ: SABR), which operates a business-to-business...er, business...providing hotel, airline, and rental car inventory, pricing, and availability data to other OTA companies is performing best of all, up a staggering 19.5%!