2023-05-09 07:48:33 ET
- Global Business Travel Group press release ( NYSE: GBTG ): Q1 GAAP EPS of -$0.06 beats by $0.04 .
- Revenue of $578M (+65.1% Y/Y) beats by $13.98M .
- Adjusted EBITDA 1 totaled $99 million, with an Adjusted EBITDA Margin 2 of 17%.
- SME transactions grew 61% versus Q1 2022 to reach 88% of 2019 pro forma 3 levels.
- LTM (ended March 31, 2023) SME New Wins Value 4 totaled $2.2 billion per annum.
- Approximately 30% of LTM SME New Wins Value came from the unmanaged category.
- Total transactions grew 61% versus Q1 2022 to reach 76% of 2019 pro forma 3 levels. Workday adjusted 5 total transaction recovery was 74% of 2019 pro forma 3 levels.
- 2023 Guidance: Revenue of $2.17B – $2.22B vs. consensus of $2.21B; Adjusted EBITDA Margin of 15% – 17%.
- Q2 guidancE: Revenue of $555M – $575M vs. consensus of $557.66M; Adjusted EBITDA Margin of 15% – 17%.
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Global Business Travel Group beats Q1 top and bottom line estimates; initiates Q2 and updates FY23 outlook