NYSE$GBTG
Global Business Travel Group I · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
American Express Global Business Travel reported strong profit growth and margin expansion in Q1 2025, with revenue increasing by 2% and Adjusted EBITDA growing by 15%.
American Express Global Business Travel (Amex GBT) delivered strong financial results in the first quarter of 2025, with revenue growing 2% year over year to $621 million and Adjusted EBITDA increasing 15% to $141 million. The company also achieved significant margin expansion and continued share gains, while lowering its leverage ratio.
- Revenue increased by 2% year over year to $621 million, or 4% on a constant currency, workday adjusted basis.
- Adjusted EBITDA grew by 15% year over year to $141 million, with Adjusted EBITDA margin expanding by 260 bps.
- Net income was $75 million, a significant increase from a net loss of $19 million in the prior year period.
- The company lowered its leverage ratio to 1.7x and maintained a strong and flexible balance sheet with a $300 million share buyback program in place.
Headline financials
Revenue & EPS history
GBTG · Revenue · Quarterly
$621M
Revenue by segment
GBTG · $571M total across 2 segments · Q3 2023
- Travel revenue$455M+17.9%79.7%
- Products & services$116M+9.4%20.3%
Forward guidance
Amex GBT is updating its full-year 2025 guidance due to a more uncertain economic environment, bringing the midpoint of Adjusted EBITDA down by 6% and the upper end largely in line with the previous midpoint. Strong Adjusted EBITDA margin expansion is still expected.
Tailwinds
- Continued strong Adjusted EBITDA margin expansion is expected.
- Increasing cost actions are planned to reach approximately $110 million.
- The company plans to continue investing in its business.
- Neutral foreign exchange impact is assumed for the full year.
- The guidance does not incorporate the impact of the pending acquisition of CWT Holdings, LLC.
Headwinds
- The guidance reflects a more uncertain economic environment.
- The midpoint of Adjusted EBITDA guidance for the full-year 2025 is down by 6% from previous midpoint.
- Current conditions are expected to continue, leading to flat total Transaction Growth.
- Organic Transaction Growth is expected to be 2% offset by 2ppts growth from new wins.
- The guidance is subject to various material assumptions and risks, including future industry performance and economic conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q1 2025
+0.0%
Avg return
Earnings day
-2.7%
Avg return
5 days after
+4.5%
Avg return
30 days after
30%
6 / 20 earnings
Positive
+16.7%
Q2 2024
Best reaction
-10.4%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | -1.2% | — | |
| Q4 2025 | +1.4% | -3.1% | -3.8% | |
| Q3 2025 | -3.8% | -9.8% | -1.0% | |
| Q1 2025 | -10.4% | -15.4% | -5.7% | |
| Q4 2024 | -5.9% | -6.3% | -14.6% | |
| Q3 2024 | +0.7% | +7.6% | +23.0% | |
| Q2 2024 | +16.7% | +9.8% | +17.1% | |
| Q1 2024 | -4.3% | -4.0% | +5.9% | |
| Q4 2023 | -0.5% | -1.6% | +5.3% | |
| Q3 2023 | +2.4% | -2.0% | +10.7% | |
| Q2 2023 | +7.5% | +6.3% | -13.3% | |
| Q1 2023 | +9.0% | +8.7% | +39.5% | |
| Q4 2022 | -10.0% | -12.3% | -4.3% | |
| Q3 2022 | -0.2% | -14.0% | -0.2% | |
| Q2 2022 | — | — | — | |
| Q1 2022 | -0.2% | — | — | |
| Q4 2021 | +0.0% | — | — | |
| Q4 2020 | -0.3% | — | — | |
| Q3 2021 | -0.1% | — | — | |
| Q2 2021 | +0.0% | — | — | |
| Q1 2021 | -0.8% | — | — | |
| Q3 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro