Sabre’s results for the first three months of 2024 “exceeded expectations” with revenue and adjusted EBITDA gains driven by supplier mix and travel bookings increases.
The global distribution company reported Q1 revenue of $783 million, up 5% year over year, and adjusted EBITDA of $142 million, up from $58 million in Q1 2023. Net loss attributable to shareholders improved to $71 million compared with $104 million in Q1 2023.
“Sabre delivered strong first quarter results that exceeded expectations,” said Sabre president and CEO Kurt Ekert. “Solid revenue growth, efficiency improvements and further progress on our technology transformation drove significant margin expansion this quarter. Sabre is becoming the preferred provider of intelligent retailing and next-generation distribution technology solutions – with both new and existing customers.
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“It is exciting to see the growth strategies that we articulated last year begin to take hold. We are well positioned to achieve our operational and financial objectives, and I am proud of our teams for consistently delivering on our strategic priorities and driving strong momentum in our business.”
Revenue for the travel business increased 5% to $714 million with distribution revenue accounting for $572 million of the total, up 9% year over year.
Hospitality solutions revenue increased 7% to $79 million with central reservation system transactions up 5% to 29 million.
Sabre’s guidance for full-year 2024 is revenue of just over $3 billion and adjusted EBITDA $520 million.
