Sabre Corporation (SABR) saw its stock price plummet 16.67% in pre-market trading on Thursday following the release of its second-quarter earnings report. The travel technology company's results fell short of analyst expectations, triggering a significant sell-off.
According to the earnings release, Sabre reported an adjusted loss per share of $0.02 for Q2, missing the consensus estimate of breakeven or a $0.01 loss per share. The company's revenue also disappointed, coming in at $687.15 million, well below analyst projections of $718.16 million. This represents a significant shortfall in both top and bottom-line performance.
While Sabre did report an adjusted EBITDA of $118 million for the quarter, it wasn't enough to offset investor concerns about the missed targets. The company's GAAP earnings per share stood at -$0.51, further highlighting the challenges Sabre faced during the quarter. As the travel industry continues to navigate post-pandemic recovery, Sabre's underperformance suggests it may be struggling to keep pace with expectations, leading to the sharp pre-market decline in its stock price.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.