Q3 2025 Sabre Corp Earnings Call Transcript

Nov 5, 2025 / 02:00 PM GMT

Transcript 10-Q8-K

Key Points

Positve

Sabre Corp (SABR) reported a 3% year-on-year growth in total distribution bookings, with air distribution bookings increasing by more than 2%.
The company has made significant progress in deleveraging its balance sheet, expecting to reduce net leverage by approximately 50% by year-end 2025 compared to year-end 2023.
Sabre Corp (SABR) has extended its industry-leading position with 41 live NDC integrations, new agency wins, and renewals.
The payments business is scaling rapidly, with quarterly gross spend growing over 40% year-on-year.
The company is leveraging AI to transform travel, with innovations such as Agent APIs for travel and continuous revenue optimizer, enhancing its competitive position.

Negative

The government shutdown impacted October air distribution bookings by approximately 3% points, affecting the fourth quarter outlook.
Gross margin decreased by 130 basis points in the third quarter due to lower than expected revenue from higher margin product sales and FX impacts.
Pro forma free cash flow was below expectations, driven by lower receipts and higher disbursements.
The company's exposure to US government and military bookings, which represented about 4% of global air distribution volumes, posed a headwind.
The anticipated impacts from the government shutdown led to a reduction in the midpoint of the fourth quarter air distribution bookings growth guidance.

Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

SABR.OQ - Sabre Corp
Q3 2025 Sabre Corp Earnings Call
Nov 05, 2025 / 02:00PM GMT

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THIS TRANSCRIPT IS THE INITIAL PRELIMINARY VERSION WHICH LEVERAGES MACHINE LEARNING TECHNOLOGY. AS SUCH, PLEASE BE AWARE THERE MAY BE INACCURACIES IN THE TEXT DISPLAYED. FUTURE EDITED VERSIONS WILL BE REVIEWED FOR GREATER ACCURACY.

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Good morning and welcome to the savor 3rd quarter 2025 earnings conference call. My name is Livia, and I'll be your operator. As a reminder,

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