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Sabre (SABR)

Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveller experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.

Company profile

Ticker
SABR, SABRP
Exchange
Website
CEO
Thomas Klein
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Airline Technology • Asiana Sabre Inc. • E-Beam Limited • Excellent Management Limited • EZY Webwerksraden AB • Flight Operations Holdings, LLC • FlightLine Data Services, Inc. • GetThere Inc. • GetThere L.P. • IHS US Inc. ...

SABR stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

3 May 22
17 May 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.21B 1.21B 1.21B 1.21B 1.21B 1.21B
Cash burn (monthly) (no burn) 6.46M 26.51M 63.5M 46.92M 30.1M
Cash used (since last report) n/a 10.04M 41.22M 98.73M 72.96M 46.81M
Cash remaining n/a 1.2B 1.17B 1.11B 1.13B 1.16B
Runway (months of cash) n/a 185.5 44.0 17.5 24.2 38.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 May 22 Mandel Gail Common Stock Sell Dispose S No Yes 10.38 715 7.42K 52,771
27 Apr 22 Bravante George R Jr Common Stock Grant Acquire A No No 10.95 14,612 160K 91,710
27 Apr 22 Karl Mr. Peterson Common Stock Grant Acquire A No No 10.95 14,612 160K 43,087
27 Apr 22 Zane Rowe Common Stock Grant Acquire A No No 10.95 14,612 160K 71,385
27 Apr 22 Gregg A Saretsky Common Stock Grant Acquire A No No 10.95 14,612 160K 52,735
99.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 328 312 +5.1%
Opened positions 62 37 +67.6%
Closed positions 46 51 -9.8%
Increased positions 120 98 +22.4%
Reduced positions 90 106 -15.1%
13F shares Current Prev Q Change
Total value 2.91B 23.96B -87.9%
Total shares 324.85M 333.96M -2.7%
Total puts 8.93M 11.22M -20.5%
Total calls 18.84M 20.29M -7.1%
Total put/call ratio 0.5 0.6 -14.3%
Largest owners Shares Value Change
BLK Blackrock 29.57M $253.98M +9.8%
Vanguard 29.2M $250.81M -2.7%
IVZ Invesco 18.66M $160.27M +1.5%
Apollo Management 16.05M $137.87M 0.0%
Earnest Partners 15.37M $132M -3.7%
Par Capital Management 12.4M $106.49M -8.0%
Causeway Capital Management 10.47M $89.9M +33.0%
Oak Hill Advisors 9.07M $77.88M +7.1%
STT State Street 8.41M $72.25M +3.3%
FMR 8.39M $72.05M +18.1%
Largest transactions Shares Bought/sold Change
JPM JPMorgan Chase & Co. 1.76M -13.54M -88.5%
Lord, Abbett & Co. 0 -5.85M EXIT
Teacher Retirement System Of Texas 58.77K -5.07M -98.9%
BNS Bank Of Nova Scotia 3.8M +3.8M NEW
Marshall Wace 0 -3.73M EXIT
BLK Blackrock 29.57M +2.63M +9.8%
Causeway Capital Management 10.47M +2.6M +33.0%
Massachusetts Financial Services 2.36M +2.36M NEW
Norges Bank 2.32M +2.32M NEW
Balyasny Asset Management 32.08K -2.07M -98.5%

Financial report summary

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Competition
PASSUR AerospaceBooking
Risks
  • The COVID-19 pandemic has had and is expected to continue to have a significant adverse impact on our business, including our financial results and prospects, and the travel suppliers on whom our business relies.
  • The COVID-19 pandemic may result in potential impairments of goodwill, long-term investments and long-lived assets; increasing provisions for bad debt including risks associated with travel agencies ability to repay us for incentive fees associated with bookings that have now cancelled; and increases in cash outlays to refund travel service providers for cancelled bookings.
  • The ongoing impact of the COVID-19 outbreak on our business and the impact on our results of operations is highly uncertain.
  • Our ability to recruit, train and retain employees, including our key executive officers and technical employees, is critical to our results of operations and future growth.
  • We operate in highly competitive, evolving markets, and if we do not continue to innovate and evolve, our business operations and competitiveness may be harmed.
  • Our Travel Solutions business is exposed to pricing pressure from travel suppliers.
  • Our revenue is highly dependent on transaction volumes in the global travel industry, particularly air travel transaction volumes.
  • Our travel supplier customers may experience financial instability or consolidation, pursue cost reductions, change their distribution model or undergo other changes.
  • Our collection, processing, storage, use and transmission of personal data could give rise to liabilities as a result of governmental regulation, conflicting legal requirements, differing views on data privacy, or security incidents.
  • Implementation of software solutions often involves a significant commitment of resources, and any failure to deliver as promised on a significant implementation could adversely affect our business.
  • Our Travel Solutions business depends on relationships with travel buyers.
  • Our Travel Solutions and Hospitality Solutions businesses depend on maintaining and renewing contracts with their customers and other counterparties.
  • We are exposed to risks associated with payment card industry data ("PCI") compliance.
  • We are involved in various legal proceedings which may cause us to incur significant fees, costs and expenses and may result in unfavorable outcomes.
  • Any failure to comply with regulations or any changes in such regulations governing our businesses could adversely affect us.
  • We are exposed to risks associated with acquiring or divesting businesses or business operations.
  • We rely on the value of our brands, which may be damaged by a number of factors, some of which are out of our control.
  • We rely on third-party distributor partners and equity method investments to extend our GDS services to certain regions, which exposes us to risks associated with lack of direct management control and potential conflicts of interest.
  • We rely on the availability and performance of information technology services provided by third parties, including DXC and other network, cloud and SaaS providers.
  • Our success depends on maintaining the integrity of our systems and infrastructure, which may suffer from failures, capacity constraints, business interruptions and forces outside of our control.
  • Security incidents expose us to liability and could damage our reputation and our business.
  • Intellectual property infringement actions against us could be costly and time consuming to defend and may result in business harm if we are unsuccessful in our defense.
  • We may not be able to protect our intellectual property effectively, which may allow competitors to duplicate our products and services.
  • We use open source software in our solutions that may subject our software solutions to general release or require us to re-engineer our solutions.
  • Our business could be harmed by adverse global and regional economic and political conditions.
  • We have a significant amount of indebtedness, which could adversely affect our cash flow and our ability to operate our business and to fulfill our obligations under our indebtedness.
  • The terms of our debt covenants could limit our discretion in operating our business and any failure to comply with such covenants could result in the default of all of our debt.
  • We may require more cash than we generate in our operating activities, and additional funding on reasonable terms or at all may not be available.
  • We are exposed to interest rate fluctuations.
  • The market price of our common stock could decline due to the large number of outstanding shares of our common stock eligible for future sale.
  • We may recognize impairments on long-lived assets, including goodwill and other intangible assets, or recognize impairments on our equity method investments.
  • Maintaining and improving our financial controls and the requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain qualified board members.
  • We may have higher than anticipated tax liabilities.
  • Our pension plan obligations are currently unfunded, and we may have to make significant cash contributions to our plans, which could reduce the cash available for our business.
  • We may not have sufficient insurance to cover our liability in pending litigation claims and future claims either due to coverage limits or as a result of insurance carriers seeking to deny coverage of such claims, which in either case could expose us to significant liabilities.
  • Defects in our products may subject us to significant warranty liabilities or product liability claims and we may have insufficient product liability insurance to pay material uninsured claims.
Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • This Quarterly Report on Form 10-Q, including this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part I, Item 2, contains information that may constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding our future financial condition or results of operations, our prospects and strategies for future growth, the development and introduction of new products, and the implementation of our marketing and branding strategies. In many cases, you can identify forward-looking statements by terms such as “expects,” “outlook,” "intends," "will," "may," "believes," “plans,” “provisional,” “predicts,” “potential,” “anticipates,” “estimates,” “should,” “could,” “likely,” “commit,” “guidance,” “anticipate,” “incremental,” “preliminary,” “forecast,” “continue,” “strategy,” “confidence,” “momentum,” “estimate,” “objective,” “project,” or the negative of these terms or other comparable terminology. The forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions and are subject to risks, uncertainties and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Certain of these risks, uncertainties and changes in circumstances are described in the "Risk Factors" section of this Quarterly Report on Form 10-Q and in the “Risk Factors” and “Forward-Looking Statements” sections included in our Annual Report on Form 10-K filed with the SEC on February 18, 2022. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, outlook, guidance, results, actions, levels of activity, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.
  • We connect people and places with technology that reimagines the business of travel. We operate our business and present our results through two business segments: (i) Travel Solutions, our global business-to-business travel marketplace for travel suppliers and travel buyers, including a broad portfolio of software technology products and solutions for airlines, and (ii) Hospitality Solutions, an extensive suite of leading software solutions for hoteliers.

Content analysis

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