Sabre (SABR) Reports In-Line Q2 EPS
Sabre (NASDAQ: SABR) reported Q2 EPS of $0.35, in-line with the analyst estimate of $0.35. Revenue for the quarter came in at $900.7 million versus the consensus estimate of $895.04 million.
Full-Year 2017 Guidance
Sabre reiterated full-year 2017 guidance ranges for all income statement metrics, with the exception of Adjusted EBITDA, which was lowered by $25 million at the top and bottom end of the range. While maintaining its full-year Adjusted Net Income and EPS guidance, Sabre expects that results will likely be in the lower half of their respective ranges. Strategic prioritization has led Sabre to reduce its expectations for 2017 capital expenditures and capitalized implementation costs by $50 million in aggregate. The Company continues to expect full-year Free Cash Flow to total approximately $350 million, which reflects the revised guidance for Adjusted EBITDA, the decrease in expected Adjusted Capital Expenditures and the cash impact of the charge taken in the second quarter of 2017 related to the cost reduction and business alignment program.
In summary, Sabre's full-year 2017 guidance is as follows:
Range | Growth Rate | |
($ millions, except for EPS) | ||
Revenue | $3,540 - $3,620 | 5% - 7% |
Adjusted EBITDA | $1,055 - $1,095 | 1% - 5% |
Adjusted Net Income | $370 - $410 | 0% - 11% |
Adjusted EPS | $1.31 - $1.45 | 0% - 11% |
Capitalized Expenditures | $335 - $355 | |
Capitalized Implementation Costs | $60 - $70 | |
Free Cash Flow | Approximately $350M | |
For earnings history and earnings-related data on Sabre (SABR) click here.