SABR earnings analysis
What we found in SABR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Sabre Corporation reported Q1 2026 results with revenue of $760 million, up 8% year-over-year, transitioning back to profitability with an EPS of $0.06 compared to a loss in the prior year. However, significant cash outflows for restructuring and increased interest expenses were noted, with the company maintaining cautious guidance amidst geopolitical headwinds and liquidity challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 8%
- Revenue increased by $58.2 million, reaching $760.3 million compared to $702.1 million in Q1 2025.
- Positive EPS Turnaround
- Reported EPS of $0.06 compared to a loss of $0.01 in Q1 2025.
- Increased Operating Income
- Operating income rose to $115.9 million from $91.4 million, showing a strong operational performance.
- Restructuring Costs
- $61 million incurred as part of an inflation offset program to manage technology and operational costs.
- Debt Management
- Utilized $969 million from the Hospitality Solutions sale primarily to reduce outstanding debt.
- Bookings Growth
- Total Direct Billable Bookings reached 101.3 million, growing 5.1% from Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Cash Usage
- Operating cash flow was negative at $134 million, up from a negative $64 million in Q1 2025.
- Increased Interest Expense
- Interest expense increased by $13 million year-over-year to $123 million.
- Geopolitical and Economic Uncertainty
- Potential impact from ongoing conflicts in the Middle East affecting travel demand and bookings.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.06
- Gross margin
- 56.0%
- Operating margin
- 15.3%
- Segment
- Marketplace
- Segment
- Airline Technology
What they said about what is next.
The company reaffirms full-year guidance for Pro Forma Adjusted EBITDA and Free Cash Flow.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 18, 2026
- Sabre positions itself as a technology-first travel platform focused on its Sabre Mosaic Marketplace and airline SaaS products, while prioritizing two strategic objectives: “driving growth through innovation” and…
- 10-K · February 20, 2025
- Sabre positions itself as a global travel technology platform organized into two segments (Travel Solutions and Hospitality Solutions) with a stated strategic focus on generating positive free cash flow, modernizing…
- 10-Q · August 1, 2024
- Sabre reported Q2 revenue of $767,241 (thousands) (+$29,712 vs. Q2 2023) and YTD revenue of $1,550,127 (thousands) (+$69,903 Y/Y). Operating profit turned positive to $60,855 (thousands) in the quarter versus an…
- 10-K · February 15, 2024
- Sabre positions itself as a travel-technology company focused on two segments (Travel Solutions and Hospitality Solutions) and four strategic priorities: generating positive free cash flow, sustainable long-term growth,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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