Despegar Com Stock Price, News & Analysis

Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has announced it will report its Second Quarter 2024 financial results on Thursday, August 15, 2024, after the market close. The company will host a conference call on the same day at 4:30 p.m. Eastern Time to discuss the results.

Investors and analysts can participate in the conference call by dialing +1 800 715 9871 (U.S. domestic) or +1 646 307 1963 (International). Pre-registration is available for immediate access to the call. A webcast of the conference call will also be available, with a replay option provided.

Despegar (NYSE: DESP), Latin America's leading travel technology company, has been added to the Russell 2000 and Russell 3000 indexes, effective July 1, 2024. CEO Damian Scokin highlighted that inclusion in these indexes validates Despegar's growth and capital allocation strategies. The Russell 3000 Index includes the 3,000 largest U.S. traded stocks, serving as an important benchmark for investment managers and institutional investors. Approximately $9.1 trillion in assets are benchmarked against Russell's U.S. indexes, making this inclusion a significant milestone for Despegar.

Despegar, Latin America's leading travel technology company, published its 2023 ESG report, showcasing significant progress in environmental, social, and governance areas. By migrating to Amazon's AWS cloud, Despegar aims to reduce its computing carbon footprint by 80% starting in 2025. The company is enhancing its sustainable travel options and increasing investments in community programs that support local economies and promote community-beneficial tourism. For employee welfare, new policies include flexible work arrangements and expanded health programs. Governance improvements focus on transparency and accountability, with new compliance measures and stakeholder engagement initiatives. The full report is available at their investor site.

Despegar, Latin America's leading travel tech company, has announced a partnership with Shakira for its new campaign: Dream, Choose, Travel. This collaboration aims to inspire and encourage Latin Americans to embrace travel.

Marcelo Grether, Despegar's Chief Commercial Officer, highlighted Shakira's Latin American roots and global influence as key reasons for selecting her as the campaign's ambassador. The campaign will launch soon, aiming to connect people through travel and memorable experiences.

Despegar.com reported strong financial results for 1Q24. Gross Bookings rose by 12% YoY to $1.3 billion and revenues increased 9% YoY to $173.7 million. On an FX-neutral basis, revenues grew 36% YoY. Adjusted EBITDA saw a remarkable 126% YoY increase to $39 million, with a record margin of 22.4%. Adjusted Net Income increased 68% YoY to $22.4 million.

Key markets like Brazil and Mexico showed robust demand. Notable improvements included a 47% YoY increase in B2B Gross Bookings and an 83% YoY rise in Loyalty Program members. The company also launched an AI travel assistant, SOFIA.

Despite a total cash position decline to $213 million, due to working capital strategies, dividend payments, and seasonal trends, Despegar remains confident, raising its 2024 revenue guidance to at least $820 million and Adjusted EBITDA to at least $155 million.

Despegar.com, Corp. (NYSE: DESP), Latin America’s top travel technology company, will announce its First Quarter 2024 financial results on May 16, 2024. The company operates in 19 countries, offering alternative payment methods, and is traded on the NYSE. Despegar has a strong market presence and aims to enhance travel experiences for Latin Americans.