Sabre reported third-quarter 2026 revenue of $738 million, up 3% from a year earlier, and said it exceeded its quarterly Pro Forma Adjusted EBITDA guidance. The travel technology company raised its full-year Pro Forma Adjusted EBITDA and free cash flow outlook for the second consecutive quarter, while reaffirming its forecast for low-to-mid-single-digit growth in revenue and air marketplace bookings.
The quarter also brought a lower-rate debt refinancing that extended certain maturities, 14% growth in hotel-related revenue and a new airline technology customer in Kenya Airways.
Third-quarter results
– Operating income rose 17% year over year to $109 million.
– Sabre reported a $25 million net loss attributable to common stockholders.
– Adjusted EBITDA increased 16% to $164 million.
– Normalized Adjusted EBITDA rose 13% to $170 million, marking the fifth consecutive quarter of double-digit growth in that measure.
– Revenue growth was in line with the company’s guidance, while Pro Forma Adjusted EBITDA exceeded guidance.
Outlook and business developments
– Sabre raised its full-year 2026 Pro Forma Adjusted EBITDA and free cash flow guidance. It did not provide the revised figures in the announcement.
– The company maintained its outlook for low-to-mid-single-digit growth in full-year revenue and air marketplace bookings.
– Hotel-related revenue grew 14% in the quarter, which Sabre attributed to continued momentum in its lodging and media businesses.
– Kenya Airways selected Sabre to modernize its core reservations and retailing platform and advance its offer-and-order-based retailing.
Debt refinancing
– Sabre completed a refinancing at a lower interest rate, extending certain debt maturities to 2032.
– The company said it has no large maturities until the third quarter of 2029.
The quarter combined higher revenue and operating income with a net loss. The refinancing pushes certain maturities further out, while the higher full-year EBITDA and free cash flow guidance signals improved expectations for those measures; the announcement did not specify the size of the guidance increases.