NYSE$GBTG
Global Business Travel Group I · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported strong financial results for Q4 and full year 2022, exceeding full-year guidance and demonstrating continued SME momentum.
American Express Global Business Travel reported strong Q4 and full year 2022 financial results, driven by record new wins, high customer retention, and strong SME segment performance. Revenue increased significantly, and Adjusted EBITDA improved, positioning the company for continued growth in revenue, profitability, and cash flow.
- Revenue increased by $240 million, or 84%, compared to the same period in 2021.
- Travel Revenue increased by $227 million, or 122%, driven by the Egencia consolidation and transaction growth.
- Net loss improved by $137 million due to a decrease in operating loss and a reduction in loss on early extinguishment of debt.
- Adjusted EBITDA improved by $144 million, primarily due to revenue growth.
Headline financials
Revenue & EPS history
GBTG · Revenue · Quarterly
$527M
Revenue by segment
GBTG · $519M total across 2 segments · Q4 2022
- Travel revenue$413M+122.0%79.6%
- Products & services$106M+14.0%20.4%
Forward guidance
In 2023, the company expects to deliver double-digit revenue growth, drive significant margin expansion, and turn Free Cash Flow positive during the year. Looking beyond 2023, the company remains on track to deliver pre-COVID Adjusted EBITDA of approximately $500 million at an 86% revenue recovery, or achievement of $2.4 billion in revenue.
Tailwinds
- Double-digit revenue growth expected in 2023
- Significant margin expansion expected in 2023
- Free Cash Flow to turn positive during 2023
- On track to deliver pre-COVID Adjusted EBITDA of approximately $500 million
- Targeting $2.4 billion in revenue
Headwinds
- Guidance considers various material assumptions.
- Actual results may differ materially from the guidance due to a number of factors.
- Industry performance under various scenarios is difficult to predict.
- Competition, general business, economic, market and financial conditions are difficult to predict.
- The Company has not provided a quantitative reconciliation of Adjusted EBITDA guidance to forecasted net income (loss) determined under U.S. GAAP.
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 Q4 2022
+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 | — | — | — |
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