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Sabre (SABR) Q4 Loss Narrower Than Expected, Sales Up Y/Y
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Sabre (SABR - Free Report) reported a narrower-than-expected loss for fourth-quarter 2021. The company’s adjusted loss per share of 47 cents came in narrower than the Zacks Consensus Estimate of a loss of 49 cents. The quarterly adjusted loss is also narrower than the year-ago quarter’s 80 cents per share.
Sabre delivered revenues of $501 million in the fourth quarter, significantly higher than revenues of $314 million posted in the year-ago quarter and surpassed the Zacks Consensus Estimate of $475.5 million as well. This year-over-year surge in the top line reflects the continued gradual recovery in the global air, hotel and other bookings.
Top Line Details
The Travel Solutions segment’s revenues increased to $450.9 million from the year-ago quarter’s $275.8 million, primarily on the gradual recovery in the global air and other bookings.
Distribution (sub-division of Travel Solutions) revenues improved to $286 million from $130.9 million witnessed in fourth-quarter 2020, chiefly driven by favorable comparison of the prior-year quarter’s significant cancellation activities and gradual recovery in bookings.
IT Solution (sub-division of Travel Solutions) revenues were $164.9 million, up from the year-ago quarter’s $144.9 million. This increase was primarily driven by the gradual recovery in the passengers boarded. Number of boarded airline passengers — a key revenue metric for the IT Solutions division — increased to 129.4 million from 78.6 million.
The Hospitality Solutions segment’s revenues totaled $54.5 million compared with the year-ago quarter’s $41.5 million. This upside was mainly fueled by the continued gradual recovery in central reservation system transactions and higher Digital Experience revenues. Central reservation system transactions rose 23.5 million from 15.7 million.
Sabre Corporation Price, Consensus and EPS Surprise
Sabre reported an adjusted operating loss of $68 million, significantly narrower than the operating loss of $169 million posted in the year-earlier period.
Adjusted EBITDA improved from negative $101 million reported a year ago to negative $26 million. This improvement was driven by an increase in revenues and a decline in provision for anticipated credit loss.
Balance Sheet and Cash Flow
Sabre ended the fourth quarter with cash, cash equivalents and restricted cash of $999.4 million compared with the previous quarter’s $1.04 billion.
During the quarter, the company utilized $7 million of cash for operational activities and generated a negative free cash flow of $30 million. In full-year 2021, Sabre used $415 million of cash for operational activities and generated a negative free cash flow of $469 million.
Full-Year Highlights
For full-year 2021, Sabre reported revenues of $1.7 billion, up 27% year over year.
The company reported a non-GAAP loss of $2.21 per share compared with 2020’s loss of $3.20 per share.
Adjusted operating loss came in at $459 million. Adjusted EBITDA was negative $261 million against negative $448 million reported in 2020.
The Zacks Consensus Estimate for Apple’s second-quarter fiscal 2022 earnings has been revised upward by 3.6% to $1.43 per share over the past 30 days. For fiscal 2022, earnings estimates have moved north by 5.9% to $6.15 per share in the past 30 days.
Apple’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 20.3%. AAPL stock has appreciated 29.4% in the past year.
The Zacks Consensus Estimate for Axcelis’ first-quarter 2022 earnings has been revised upward by 2 cents to 89 cents per share over the past seven days. For 2022, earnings estimates have moved north by 10.8% to $3.99 per share in the last seven days.
Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have rallied 74% in the past year.
The Zacks Consensus Estimate for Analog Devices’ first-quarter fiscal 2022 earnings has been revised upward by a penny to $1.79 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 7 cents to $7.53 per share in the past 60 days.
Analog Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6.1%. Shares of ADI have gained 0.6% in the past year.
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Sabre (SABR) Q4 Loss Narrower Than Expected, Sales Up Y/Y
Sabre (SABR - Free Report) reported a narrower-than-expected loss for fourth-quarter 2021. The company’s adjusted loss per share of 47 cents came in narrower than the Zacks Consensus Estimate of a loss of 49 cents. The quarterly adjusted loss is also narrower than the year-ago quarter’s 80 cents per share.
Sabre delivered revenues of $501 million in the fourth quarter, significantly higher than revenues of $314 million posted in the year-ago quarter and surpassed the Zacks Consensus Estimate of $475.5 million as well. This year-over-year surge in the top line reflects the continued gradual recovery in the global air, hotel and other bookings.
Top Line Details
The Travel Solutions segment’s revenues increased to $450.9 million from the year-ago quarter’s $275.8 million, primarily on the gradual recovery in the global air and other bookings.
Distribution (sub-division of Travel Solutions) revenues improved to $286 million from $130.9 million witnessed in fourth-quarter 2020, chiefly driven by favorable comparison of the prior-year quarter’s significant cancellation activities and gradual recovery in bookings.
IT Solution (sub-division of Travel Solutions) revenues were $164.9 million, up from the year-ago quarter’s $144.9 million. This increase was primarily driven by the gradual recovery in the passengers boarded. Number of boarded airline passengers — a key revenue metric for the IT Solutions division — increased to 129.4 million from 78.6 million.
The Hospitality Solutions segment’s revenues totaled $54.5 million compared with the year-ago quarter’s $41.5 million. This upside was mainly fueled by the continued gradual recovery in central reservation system transactions and higher Digital Experience revenues. Central reservation system transactions rose 23.5 million from 15.7 million.
Sabre Corporation Price, Consensus and EPS Surprise
Sabre Corporation price-consensus-eps-surprise-chart | Sabre Corporation Quote
Sabre reported an adjusted operating loss of $68 million, significantly narrower than the operating loss of $169 million posted in the year-earlier period.
Adjusted EBITDA improved from negative $101 million reported a year ago to negative $26 million. This improvement was driven by an increase in revenues and a decline in provision for anticipated credit loss.
Balance Sheet and Cash Flow
Sabre ended the fourth quarter with cash, cash equivalents and restricted cash of $999.4 million compared with the previous quarter’s $1.04 billion.
During the quarter, the company utilized $7 million of cash for operational activities and generated a negative free cash flow of $30 million. In full-year 2021, Sabre used $415 million of cash for operational activities and generated a negative free cash flow of $469 million.
Full-Year Highlights
For full-year 2021, Sabre reported revenues of $1.7 billion, up 27% year over year.
The company reported a non-GAAP loss of $2.21 per share compared with 2020’s loss of $3.20 per share.
Adjusted operating loss came in at $459 million. Adjusted EBITDA was negative $261 million against negative $448 million reported in 2020.
Zacks Rank & Key Picks
Sabre currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader computer and technology sector include the iPhone maker Apple (AAPL - Free Report) and Axcelis Technologies (ACLS - Free Report) , both sporting a Zacks Rank #1 (Strong Buy), and Analog Devices (ADI - Free Report) carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Apple’s second-quarter fiscal 2022 earnings has been revised upward by 3.6% to $1.43 per share over the past 30 days. For fiscal 2022, earnings estimates have moved north by 5.9% to $6.15 per share in the past 30 days.
Apple’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 20.3%. AAPL stock has appreciated 29.4% in the past year.
The Zacks Consensus Estimate for Axcelis’ first-quarter 2022 earnings has been revised upward by 2 cents to 89 cents per share over the past seven days. For 2022, earnings estimates have moved north by 10.8% to $3.99 per share in the last seven days.
Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have rallied 74% in the past year.
The Zacks Consensus Estimate for Analog Devices’ first-quarter fiscal 2022 earnings has been revised upward by a penny to $1.79 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 7 cents to $7.53 per share in the past 60 days.
Analog Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6.1%. Shares of ADI have gained 0.6% in the past year.