Sabre Corporation (SABR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

We are encouraged by the continued momentum we are seeing from our growth strategies. Since late 2025, Sabre's rate of bookings growth is outpacing the broader industry by approximately 600 basis points. Second quarter air distribution bookings trends were better than expected, driven by a modest recovery in the month of June. The trends we saw in June have continued through July and are reflected in our full year outlook. Consistent with what we shared during our first quarter earnings call regarding conflict-related headwinds in the month of March, air distribution bookings growth remained positive throughout the second quarter in both North and South America. That strength was partially offset by continued impacts from the Middle East conflict as well as higher fuel prices, which have driven airline fare increases. We estimate that the global impact of fuel in the Middle East conflict was 300 to 400 basis points in the second quarter and was relatively more acute in EMEA and Asia Pacific. Importantly, corporate volumes, which represent nearly half of our marketplace bookings, demonstrated continued steady performance and resilience throughout the second quarter, which offset softness in leisure demand. Looking ahead, the underlying assumptions for our growth outlook have not changed. We expect third quarter air distribution bookings growth of flat to low single digits. For the fourth quarter, and consistent with our prior outlook, as well as recent airline commentary, we expect bookings to grow at a low to mid single digit rate year on year. Now turning to slide five. For the fourth consecutive quarter, we delivered double digit year on year growth in normalized adjusted EBITDA. We believe these results and positive trends set us up well to continue to drive year ...