Sabre beats by $0.07, beats on revs; reaffirms FY17 EPS guidance, revs guidance (23.63)
- Reports Q1 (Mar) earnings of $0.42 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus of $0.35; revenues rose 6.5% year/year to $915.35 mln vs the $897.62 mln Capital IQ Consensus.
- Co reaffirms guidance for FY17, sees EPS of $1.31-1.45, excluding non-recurring items, vs. $1.37 Capital IQ Consensus Estimate; sees FY17 revs of $3.54-3.62 bln vs. $3.57 bln Capital IQ Consensus Estimate.
- "We are off to a solid start on the year with good revenue growth across the business. The macro global travel environment was supportive of growth in travel and helped drive strong bookings, passengers boarded and hotel transaction growth across our businesses in the quarter," said Sean Menke, Sabre president and CEO. "For the first quarter, Airline and Hospitality Solutions revenue grew 8.2%, supported by 7.1% growth in passengers boarded and a strong increase in hotel transactions. Travel Network revenue increased 6.1% supported by robust bookings in all major regions of the world.