Sabre Reports Second Quarter 2016 Results

  • Sabre Hospitality Solutions (CRS and other solutions)
  • 08.02.16
Sabre Corporation has announced financial results for the quarter which ended on June 30, 2016.

  • Second quarter revenue increased 19.5 percent
  • Net income attributable to common stockholders increased 123.6 percent and diluted net income attributable to common stockholders per share increased 108.3 percent 
  • Adjusted EBITDA up 19.3 percent and Adjusted EPS up 37.0 percent 
  • Airline and Hospitality Solutions revenue increased 16.4 percent 
  • Travel Network revenue rose 20.9 percent, with bookings growth of 23.9 percent 

“Sabre second quarter results build on our growing and consistent track record of solid execution,” said Tom Klein, Sabre president and chief executive officer. “While the macro environment has offered little upside, our results demonstrate our ability to grow as we capitalize on strong demand for our Airline and Hospitality Solutions SaaS portfolio and as Travel Network continues to expand globally." 

Q2 2016 Financial Summary 

Sabre consolidated second quarter revenue increased 19.5 percent to $845.2 million, compared to $707.1 million for the same period last year.
 
Net income attributable to common stockholders totaled $72.0 million, compared to $32.2 million in the second quarter of 2015, an increase of 123.6 percent. The increase in net income attributable to common stockholders is primarily the result of strong operating income growth in both business segments and a loss on the extinguishment of debt in the year ago period. Second quarter consolidated Adjusted EBITDA was $271.5 million, a 19.3 percent increase from $227.6 million in the second quarter of 2015. The increase is the result of Adjusted EBITDA increases of 22.2 percent in Travel Network and 13.5 percent in Airline and Hospitality Solutions, respectively. 

For the quarter, Sabre reported diluted net income attributable to common stockholders per share of $0.25 per share compared to $0.12 in the second quarter of 2015, an increase of 108.3 percent. Adjusted net income from continuing operations per share (Adjusted EPS) increased 37.0 percent to $0.37 from $0.27 per share in the second quarter of 2015. 

Cash provided by operating activities totaled $123.6 million, compared to $136.2 million in the second quarter of 2015. Cash used in investing activities totaled $95.4 million, compared to $66.1 million in the second quarter of 2015. Cash used in financing activities totaled $63.4 million, compared to cash provided by financing activities of $56.5 million in the second quarter of 2015. Second quarter Free Cash Flow was $34.5 million, compared to $70.2 million in the year ago period. Capital expenditures totaled $89.1 million, compared to $66.1 million in the year ago period. Adjusted Capital Expenditures, which include capitalized implementation costs, totaled $112.4 million, compared to $81.3 million in the second quarter of 2015.




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