NYSE$GBTG
Global Business Travel Group I · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
American Express Global Business Travel reported strong revenue growth and positive year-to-date cash generation.
American Express Global Business Travel reported a strong Q3 2023 with a 17% increase in revenue and a 135% increase in Adjusted EBITDA compared to Q3 2022. The company also generated positive free cash flow and lowered its leverage ratio. They are reiterating their full-year 2023 revenue and Adjusted EBITDA guidance ranges and now expect positive Free Cash Flow for the full year.
- Revenue increased by 17% compared to Q3 2022.
- Adjusted EBITDA grew by 135% versus Q3 2022.
- Free Cash Flow was positive on a year-to-date basis, exceeding expectations.
- The company lowered its leverage ratio to 2.7x.
Headline financials
Revenue & EPS history
GBTG · Revenue · Quarterly
$571M
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
The company expects to be at the higher end of its revenue guidance range and closer to the midpoint of its Adjusted EBITDA guidance range. They now expect to deliver positive Free Cash Flow for full-year 2023, ahead of previous expectations.
Tailwinds
- Revenue: $535M – $550M
- Revenue Growth (Year-over-Year): 2% – 4%
- Adjusted EBITDA: $75M – $85M
- Adjusted EBITDA Margin: 14% – 15%
- Free Cash Flow: Positive
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 Q3 2023
+0.0%
Avg return
Earnings day
-2.7%
Avg return
5 days after
+4.1%
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% | -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
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