Sabre Corporation (NASDAQ:SABR) Q4 2018 Earnings Conference Call Transcript

Feb 12, 2019 • 09:00 am ET


Sabre Corporation (NASDAQ:SABR) Q4 2018 Earnings Conference Call Transcript


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Good morning and welcome to the Sabre Fourth Quarter and Full Year 2018 Earnings Conference Call. Please note that today's call is being recorded and is also being broadcast live over the Internet on the Sabre corporate website. This broadcast is the property of Sabre. Any redistribution, retransmission or rebroadcast of this call in any form without the express written consent of the company is strictly prohibited.

I'll now turn the call over to the Senior Vice President of Investor Relations and Corporate Communications Mr. Barry Sievert.

Go ahead sir.

Barry Sievert

Thank you Joelle and good morning everyone. Thanks for joining us for our fourth quarter and full year 2018 earnings call. This morning we issued an earnings release which is available on our website at Our slide presentation and today's prepared remarks are also available during this call on the Sabre IR webpage. A replay of today's call will be available on our website later this morning. Throughout today's call, we'll be presenting certain non-GAAP financial measures which have been adjusted to exclude certain items.

All references during today's call to EBITDA, EBITDA less capitalized software development, operating income, EPS and net income have been adjusted for these items. The most directly comparable GAAP measures and reconciliations for non-GAAP measures are available in the earnings release and other documents posted on our website at We'd like to advise you that our comments contain forward-looking statements.

These statements include among others disclosures of our guidance, including revenue EBITDA, EBITDA less Capitalized Software Development, operating income, net income EPS cash flow and CapEx; our medium-term outlook; our expected segment results; the amounts and effects of changes in capitalization mix and depreciation and amortization; the effects of new or renewed agreements, products and implementations; our expectations of industry trends; and various other forward-looking statements regarding our business.

These statements involve risks and uncertainties that may cause actual results to differ materially from the statements made on today's conference call. Information concerning the risks and uncertainties that could affect our financial results is contained in our SEC filings, including our 2017 Form 10-K and our third quarter 2018 Form 10-Q.

Participating with me on today's call are Sean Menke our President and Chief Executive Officer; and Doug Barnett, Executive Vice President and Chief Financial Officer. Sean will start us off and provide a review of our strategic and commercial performance and outlook. Doug will offer additional perspective on our financial results and the forward outlook.

We will then open the call for your questions.

With that I'll turn the call over to Sean.

Sean Menke

Thanks Barry. Good morning everyone and thank you for joining us today. 2018 demonstrates steady, continued progress on a strong foundation. Our commitment and execution to the strategy we laid out at the beginning of 2018 resulted in solid financial and operational performance with high single-digit revenue growth, a 10% increase in earnings per share and a 22% growth in free cash flow. We augmented our leadership team with skilled