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Wednesday, February 26, 2020

-=Sabre (SABR) reported earnings on Wed 26 Feb 20 (b/o)

Sabre reports EPS in-line, revs in-line; expects 2020 core business to perform well and in line with previous expectations; details Q1 Coronavirus impact
  • Reports Q4 (Dec) earnings of $0.16 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.16; revenues rose 1.9% year/year to $941.4 mln vs the $947.68 mln S&P Capital IQ Consensus.
  • "Today we announced our expected commitment of $150 million of additional technology spend in 2020... This incremental technology spend will have a material impact on our financial results... In 2020, we expect our core business to perform well and in line with previous expectations. However, the 2020 financial guidance we provide below includes $150 million in incremental cash technology spend to support our strategy. It is important to note that the global health crisis related to the Coronavirus and its impact on travel will materially impact our 2020 financial results... We have provided our preliminary estimate of the first quarter 2020 impact below and continue to monitor this dynamic situation; however, we cannot reasonably estimate the full-year financial impact of the Coronavirus at this time."
  • Coronavirus Q1 impact: revs negative impact of $100-150 mln, adj EPS negative impact of $0.14-0.23.
  • 2020 core business guidance (excluding technology expenditures and excluding Coronavirus: Revenue Low-single digit growth (+4.4% consensus), Adjusted EBITDA Mid 20%s margin, Adjusted EPS $1.10 - $1.30 vs $1.25 consensus.

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