NYSE$GBTG
Global Business Travel Group I · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
American Express Global Business Travel reported strong financial results, with revenue totaling $549 million and Adjusted EBITDA reaching $80 million.
American Express Global Business Travel reported a 4% increase in revenue to $549 million and an 83% increase in Adjusted EBITDA to $80 million. The company's Adjusted EBITDA margin expanded to 15%, and free cash flow totaled $32 million.
- Revenue totaled $549 million, an increase of 4% year-over-year.
- Adjusted EBITDA totaled $80 million, an increase of 83% year-over-year.
- Adjusted EBITDA margin expanded to 15%, up 6ppt year-over-year.
- Free Cash Flow totaled $32 million, an improvement of $57 million year-over-year.
Headline financials
Revenue & EPS history
GBTG · Revenue · Quarterly
$549M
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 is guiding for 6-9% revenue growth and 18-32% Adjusted EBITDA growth in 2024, with a focus on operating leverage and margin expansion.
Tailwinds
- Guiding to 6-9% revenue growth driven by expected stable growth in business travel
- Continued share gains.
- Margin expansion, focus on productivity
- Leveraging automation and artificial intelligence (AI)
- Opportunity to refinance debt and shift capital allocation to organic and inorganic opportunities.
Headwinds
- Numerous estimates and assumptions with respect to future industry performance under various scenarios
- Assumptions for competition, general business, economic, market and financial conditions and matters specific to the business of Amex GBT
- All of which are difficult to predict
- Many of which are beyond the control of Amex GBT
- Actual results may differ materially from the guidance due to a number of factors
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 2023
+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 | — | — | — |
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