Monday, May 17, 2021
79.4 F
Fort Worth

Sabre: 2Q Earnings Snapshot

SOUTHLAKE, Texas (AP) _ Sabre Corp. (SABR) on Friday reported a second-quarter loss of $444.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Southlake, Texas-based company said it had a loss of $1.61. Losses, adjusted for restructuring costs and costs related to mergers and acquisitions, came to $1.30 per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 78 cents per share.
The provider of technology services to the travel industry posted revenue of $83 million in the period.

In a presentation on the earnings posted to the company’s website, Sabre said Q2 bookings were significantly impacted by COVID-19.

“We have responded quickly and are aggressively managing that which is in our control,” said Sabre President and CEO Sean Menke in prepared remarks. “As COVID-19 started impacting bookings in Asia, we took immediate action to reduce expenses. As the impact of the virus spread, we made more significant cuts, including a large-scale furlough of about a third of our workforce and a capital raise of more than $1.1B dollars.”

Sabre shares have decreased 63% since the beginning of the year. The stock has fallen 67% in the last 12 months.

This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SABR at

Additional reporting by FWBP Staff

Would you like the option to login with your social media account?
Login using Facebook, Google, or LinkedIn instead of having to create a FWBP account?

Get our email updates

Related Articles

Our Digital Sponsors

Stay Connected


Join Our Newsletter

Latest Articles