Global Business Travel Group, Inc. Stock Price, News & Analysis

American Express Global Business Travel (NYSE: GBTG) has announced it will release its fourth quarter and full-year 2024 financial results on February 27, 2025, before market opening. CEO Paul Abbott and CFO Karen Williams will host a live audio webcast at 09:00 A.M. ET to discuss the company's financial performance and business outlook.

The webcast will be accessible through the Investor Relations section of Amex GBT's website at investors.amexglobalbusinesstravel.com and is expected to last approximately one hour. A replay will remain available on the website for at least 90 days after the event.

American Express Global Business Travel (NYSE: GBTG) has received an interim report from the U.K. Competition and Markets Authority (CMA) regarding its proposed acquisition of CWT. The company strongly disagrees with CMA's assessment that the transaction could substantially lessen competition in the UK. Amex GBT argues that the CMA's report overlooks the highly competitive nature of the business travel sector and focuses incorrectly on a narrow market segment. The company plans to address the CMA's concerns while continuing to work with other regulators, including the U.S. Department of Justice. The transaction is still expected to close in Q1 2025.

American Express Global Business Travel (NYSE: GBTG) reported strong Q3 2024 results with Total Transaction Value (TTV) growing 9% to $7.8 billion and revenue increasing 5% to $597 million. The company achieved significant margin expansion with Adjusted EBITDA growing 23% to $118 million. Free Cash Flow generation was $59 million, leading to raised full-year guidance of approximately $160 million. The Board authorized a $300 million share buyback program, following an $55 million private share buyback completed in Q3. The company maintained a strong 97% customer retention rate and reported LTM Total New Wins Value of $3.0 billion.

American Express Global Business Travel (NYSE: GBTG), a leading software and services company for travel, expense, and meetings & events, has announced that it will report its third quarter 2024 financial results on November 5, 2024, before the market opens. The company, operated by Global Business Travel Group, Inc., will host a live audio webcast at 09:00 A.M. ET on the same day.

During the webcast, which is expected to last approximately one hour, CEO Paul Abbott and CFO Karen Williams will discuss Amex GBT's financial performance and business outlook. Interested parties can access the webcast through the Investor Relations section of Amex GBT's website at investors.amexglobalbusinesstravel.com. A replay of the webcast will be available on the website for at least 90 days following the event.

American Express Global Business Travel (NYSE: GBTG) has announced a private stock repurchase of 8,000,000 shares of its Class A common stock during Q3 2024. The repurchase was made from a single stockholder at approximately $6.85 per share, totaling about $55 million. This represents roughly 1.7% of outstanding shares as of June 30, 2024.

The transaction was funded by cash on hand and unanimously approved by the company's Board of Directors. CFO Karen Williams cited positive and accelerating Free Cash Flow and successful debt refinancing as enabling factors, stating it demonstrates confidence in their long-term strategy.

American Express Global Business Travel (Amex GBT), operated by Global Business Travel Group (NYSE: GBTG), has announced its participation in Citi's 2024 Global TMT Conference. The presentation is scheduled for September 5, 2024, at 11:40AM ET in New York City.

Amex GBT, a leading B2B software and services company specializing in travel, expense, and meetings & events, will provide a live webcast of the event on its investor relations website. Investors and interested parties can access the webcast at investors.amexglobalbusinesstravel.com. For those unable to attend or watch live, a replay will be available on the website for at least 90 days following the event.

American Express Global Business Travel (NYSE: GBTG) reported strong Q2 2024 financial results, with revenue growing 6% year-over-year to $625 million and Adjusted EBITDA increasing 20% to $127 million. The company demonstrated significant margin expansion and accelerated Free Cash Flow, generating $49 million, a 148% increase from the previous year. Amex GBT raised its full-year 2024 Free Cash Flow guidance to over $130 million, up from the previous $100 million target. The company also reported a solid foundation with a 97% LTM customer retention rate and continued market share gains. A recent debt refinancing has lowered interest costs and extended debt maturities to 2031, further strengthening the company's financial position.

American Express Global Business Travel (NYSE: GBTG) has announced an update on its proposed acquisition of CWT, a global business travel and meeting solutions provider. The transaction is now expected to close in the first quarter of 2025, later than initially anticipated. Amex GBT is working with regulatory authorities, including the UK Competition and Markets Authority (CMA) and the US Department of Justice's Antitrust Division, as they review the deal. The CMA has confirmed it will continue its review in a Phase 2 investigation.

Amex GBT remains committed to demonstrating how the acquisition will create synergies, increase investment and innovation capacity, and provide more choice for customers while maintaining a competitive business travel services environment. The company believes that a comprehensive Phase 2 analysis will highlight the benefits for customers and suppliers, as well as the continued competitiveness of the industry.

American Express Global Business Travel (NYSE: GBTG) has announced a significant refinancing of its credit facility. The new agreement includes a $1,400 million senior secured first lien term loan maturing in 2031 and a $360 million senior secured first lien revolving credit facility maturing in 2029. Key highlights include:

- Interest rate margin reduction of ~180 bps
- Estimated interest savings of ~$25 million in 2024
- Extended term loan maturities to 2031
- Increased revolving credit facility from $50 million to $360 million
- Unchanged total debt level with focus on deleveraging

The refinancing strengthens Amex GBT's balance sheet, provides increased liquidity, and supports the company's target leverage ratio of 1.5x - 2.5x Net Debt / Adjusted EBITDA.