Q4 2024 Sabre Corp Earnings Call Transcript
Key Points
- Sabre Corp (SABR) achieved a 53% year-on-year increase in adjusted EBITDA, totaling $517 million, surpassing their initial guidance.
- The company successfully completed its technology transformation objectives, migrating over 99% of compute capacity to the cloud, resulting in over $150 million in cost benefits.
- Sabre Corp (SABR) reported double-digit growth in hotel distribution bookings and new air distribution business, contributing to solid financial results.
- The Hospitality Solutions team delivered strong results with total revenue reaching an all-time high, driven by increased CRS transactions and new customer deployments.
- The company expects double-digit growth in air distribution bookings, hotel distribution bookings, and hospitality solutions CRS transactions in 2025, driven by new commercial wins and strategic initiatives.
- Free cash flow for 2024 was negative $14 million, impacted by $19 million in debt modification costs.
- The average booking fee is expected to be slightly lower in 2025 due to geographic mix and growth in NDC and LCC volumes.
- Sabre Corp (SABR) anticipates a slight year-over-year increase in SG&A expenses for 2025.
- The company expects air IT revenue to be down slightly year-over-year in the first half of 2025 due to the completion of revenue from previously demigrated carriers.
- Gross margins are expected to be slightly lower in 2025 due to the mix of new business, including lower-margin NDC and LCC content.
Good morning, and welcome to the Sabre fourth quarter and full-year 2024 earnings conference call. My name is DeeDee, 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.
Good morning, and welcome to our fourth quarter and full-year 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 this call on the Sabre Investor Relations webpage. 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, transactions and bookings growth, results of our
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