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Sabre

Sabre (SABR) Q3 2025 Earnings

Reported Nov 5, 2025 at 7:40 AM ET · SEC Source

Q3 25 EPS

$-0.01

MISS 116.00%

Est. $0.06

Q3 25 Revenue

$715.2M

MISS 0.02%

Est. $715.3M

vs S&P Since Q3 25

-5.6%

TRAILING MARKET

SABR +5.0% vs S&P +10.5%

Market Reaction

Did SABR Beat Earnings? Q3 2025 Results

Sabre delivered a mixed third quarter, posting an adjusted loss of $0.01 per share against a consensus estimate of $0.04, missing by 125%, while revenue declined 6.5% year-over-year to $715.18 million, as the company's July divestiture of its Hospita… Read more Sabre delivered a mixed third quarter, posting an adjusted loss of $0.01 per share against a consensus estimate of $0.04, missing by 125%, while revenue declined 6.5% year-over-year to $715.18 million, as the company's July divestiture of its Hospitality Solutions business reshaped its top-line profile. The sale, which generated an $800.31 million gain and allowed Sabre to repay roughly $825 million in debt, was the defining event of the quarter, reducing net debt to $3.66 billion from $4.50 billion a year earlier and accelerating the company's pivot to a pure-play travel distribution and IT solutions provider. On a continuing operations basis, underlying performance showed clear improvement, with Distribution revenue rising 4% to $575.31 million on stronger bookings and higher average booking fees of $6.05, while Adjusted EBITDA climbed 25% to $140.63 million. Looking ahead, Sabre guided for Q4 air volume growth of 6% to 8% and full-year Pro Forma Adjusted EBITDA of approximately $530 million, and the company recently expanded its SabreMosaic retailing platform to Ethiopian Airlines, signaling continued commercial momentum heading into 2026.

Key Takeaways

  • • Distribution revenue grew 4% YoY driven by higher air and hotel distribution bookings and favorable travel supplier mix and rate impacts
  • • Average booking fee increased to $6.05 from $5.94 in Q3 2024
  • • Operating margin improved 5 percentage points YoY through revenue growth, disciplined cost management and lower technology costs
  • • Lower labor and professional services costs partially offset by increased incentive expenses
  • • Technology costs decreased to $168 million from $189 million year-over-year
24/7 Wall St

SABR YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

SABR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“Our third quarter results reflect solid execution and improving momentum across our business. We delivered positive growth in quarterly air distribution bookings driven by strong growth in September. This resulted in year-on-year growth in both revenue and Adjusted EBITDA. In what has been a dynamic year, recent optimistic commentary from the broader travel industry provides us confidence that we are well positioned as we head into next year.”

— Kurt Ekert, Q3 2025 Earnings Press Release

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