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

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.

American Express Global Business Travel (NYSE: GBTG), a leading software and services company for travel, expense, and meetings & events, has announced its plans to report second quarter 2024 financial results on August 6, 2024, before the market opens. This will be followed by a live audio webcast at 9:00 a.m. ET, where CEO Paul Abbott and CFO Karen Williams will discuss the company's financial performance and business outlook. The webcast is expected to last about an hour and will be accessible through the Investor Relations section of Amex GBT's website. A replay will be available for at least 90 days following the event.

American Express Global Business Travel, operated by Global Business Travel Group, Inc. (NYSE: GBTG), reported strong Q1 2024 financial results. Key highlights include 9% TTV growth, 6% revenue growth to $610 million, record Adjusted EBITDA of $123 million, and a 24% growth. The company reiterated full-year 2024 revenue and Adjusted EBITDA guidance ranges, showing positive cash flow and deleveraging. Amex GBT also announced the acquisition of CWT for $570M, expected to be break-even to earnings per share in the first year and accretive thereafter.