Sabre (NASDAQ:SABR) reported Q1 EPS of ($0.29), $0.05 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $585 million versus the consensus estimate of $536.43 million.
Sabre's full-year 2022 outlook summarized below is a reiteration of the outlook detailed in our fourth quarter and full year 2021 earnings presentation.1,2
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| Outlook at Possible Sabre Bookings Recovery Scenarios | |||||||||||
Sabre Bookings Recovery3 (% of 2019) | 50% | 60% | 70% | ||||||||
| Revenue | $2.2B to $2.5B | $2.5B to $2.8B | $2.8B to $3.1B | ||||||||
Adjusted EBITDA3 | > ($85M) | > $15M | > $165M | ||||||||
1 AirCentre results no longer included following sale effective February 28, 2022.
2 Includes $85 million in incremental investments ($45 million technology transformation and $40 million SG&A) previously excluded from Adjusted EBITDA figures presented but separately detailed in our fourth quarter & full-year 2021 earnings presentation. Incremental investments represent operational investments and expenditures that will be expensed within our results of operations (and therefore impact Adjusted EBITDA) above what was expensed in 2021
3 Assumes related incremental benefit from Lodging, Ground and Sea (LGS) bookings and passengers boarded.