Travelport Worldwide (TVPT) Tops Q4 EPS by 6c, Revenues Beat

Travelport Worldwide (NYSE: TVPT) reported Q4 EPS of $0.31, $0.06 better than the analyst estimate of $0.25. Revenue for the quarter came in at $588.63 million versus the consensus estimate of $579.72 million.

Key Points (for full year 2018 unless stated otherwise)

• Net revenue increased 4% to $2,551 million, including Travel Commerce Platform revenue growth of 5% to $2,454 million
• Net income decreased 46% to $75 million; Adjusted EBITDA was flat at $590 million
• Income per share (diluted) decreased 50% to $0.57; Adjusted Income per Share (diluted) increased 1% to $1.46
• Payment Solutions (eNett) net revenue grew 63% to $315 million
• Net cash provided by operating activities increased 15% to $364 million; Free Cash Flow increased 10% to $220 million
• Fourth quarter net revenue increased 3% to $589 million; net income decreased 93% to $3 million; and Adjusted EBITDA increased 1% to $140 million

Gordon Wilson, President and CEO of Travelport, commented:

"I am pleased to report that we ended the year with all of our full year key financial performance measures either in line with or better than management expectations and guidance. We also made significant operational progress across our four customer priorities of delivering superior choice, performance, experiences and intelligence in travel and payments.

In December, we announced we entered into a definitive merger agreement to be acquired by affiliates of Siris Capital Group, LLC and Evergreen Coast Capital Corp. We continue to work towards finalizing the merger, which currently is expected to close in the first half of this year."

For earnings history and earnings-related data on Travelport Worldwide (TVPT) click here.

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