- The stock price of Sabre Corp (NASDAQ: SABR) fell from $15.07 to a day low of $12.60 (16.39% decrease) during intraday trading. This is why it happened.
The stock price of Sabre Corp (NASDAQ: SABR) fell from $15.07 to a day low of $12.60 (16.39% decrease) during intraday trading. Investors are responding negatively to the company’s first-quarter 2021 results.
These are the highlights:
— First quarter revenue totaled $327 million
— Net loss attributable to common stockholders of $266 million and net loss attributable to common stockholders per share of $0.84
— Adjusted EPS totaled ($0.72)
— All metrics were negatively impacted by the COVID-19 pandemic, partially offset by variable cost relief and the effect of cost saving actions
“Global travel trends continue to be reflective of COVID-19 case counts, cumulative and daily vaccination rates and regional travel restrictions. In the United States, part of our largest region, we are encouraged by the accelerating pace of daily vaccine doses administered, as well as the bullish demand comments and capacity plans made by U.S. airline executives. We have seen this confidence reflected in our North American bookings recovery. As expected, international markets vary significantly and collectively have been slower to improve than U.S. domestic travel. This has resulted in a rotation in our bookings mix. In spite of the COVID-19 pandemic, we believe we have a healthy sales pipeline and the ability to capture new opportunities. We continue to progress on our strategic initiatives, including merchandising and NDC. We are making essential technology investments and advancing critical aspects of our technology transformation and modernization. As the travel environment improves, we believe Sabre is well positioned.”
— Sean Menke, President and CEO, Sabre
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