Sabre Corporation reported second-quarter 2026 results showing modest growth and stronger profitability metrics. Revenue was $712 million, up 4% year on year, with Marketplace revenue up 6% to $577 million and Airline Technology revenue down 4% to $135 million. Operating income rose 4% to $93 million.
The company still posted a net loss attributable to common stockholders of $36 million, but this was a sharp improvement from a $256 million loss a year earlier, driven by higher operating income, lower loss on extinguishment of debt and a lower tax provision. Adjusted EBITDA increased 21% to $143 million, and Normalized Adjusted EBITDA grew 19% to $151 million, expanding margins.
Cash generation improved significantly. Free Cash Flow turned positive at $10 million versus negative $240 million in the prior-year quarter, and Sabre ended the period with a cash balance of $697 million. Based on first-half performance, the company reaffirmed 2026 guidance for revenue and air distribution bookings growth, while raising full-year guidance for Pro Forma Adjusted EBITDA to approximately $600 million and for Free Cash Flow to approximately negative $65 million.
Sabre Corp reported the initial holdings of Principal Accounting Officer Scott Hortenstine on a Form 3. He directly holds 124,366 shares of common stock. This total includes several restricted stock unit (RSU) awards that vest between May 2027 and May 2028, contingent on his continued employment.
Sabre Corporation named Scott Hortenstine, currently Vice President of Global Accounting, as its new principal accounting officer and Vice President and Controller, effective July 1, 2026. He replaces Jami Kindle in the principal accounting officer role, with Kindle serving through June 30, 2026.
Hortenstine has been with Sabre since 2015 and has led Global Accounting since 2023. He is a Certified Public Accountant with a Master’s degree in Accounting from the University of Texas at Austin and will receive Sabre’s standard vice president-level salary, annual incentive eligibility, and long-term incentives.
Sabre GLBL Inc., a wholly owned subsidiary of Sabre Corporation, has issued $150.0 million of 7.00% Exchangeable Senior Notes due 2031. The notes are senior unsecured obligations of Sabre GLBL and are fully and unconditionally guaranteed on a senior unsecured basis by Sabre and Sabre Holdings.
The notes pay 7.00% interest semi-annually beginning November 15, 2026 and mature on May 15, 2031, with investor exchange rights beginning upon certain events and becoming freely exercisable from November 15, 2030. The initial exchange rate is 447.2272 shares per $1,000 principal amount, implying an initial exchange price of approximately $2.24 per share, a 30.00% premium to the $1.72 share price on May 13, 2026.
Sabre used a portion of the proceeds to repurchase $100.0 million of its 7.32% exchangeable senior notes due 2026 at par plus interest and plans to use the remaining proceeds to retire the remaining $50.0 million of those notes, which the company states is expected to result in no incremental indebtedness from this transaction.
Sabre Corp senior vice president and chief accounting officer Jami Kindle reported routine equity-compensation transactions in company common stock. On May 15, 2026, Kindle received a grant of 19,397 shares tied to vested restricted share units, while 29,555 shares were automatically surrendered to Sabre to cover tax withholding obligations as multiple restricted share unit awards vested. One line in the filing shows Kindle holding 315,977 shares directly after the grant. All dispositions were for tax payments rather than open-market sales.
Sabre Corp EVP and CFO Michael O. Randolfi reported stock-based compensation activity rather than open-market trading. On 2026-05-15, he received two grants of common stock awards totaling 404,040 and 86,207 shares, recorded at $0.00 per share as equity compensation.
The filing also shows four dispositions labeled as tax-withholding events, where 33,923, 37,477, 37,692 and 36,841 shares of common stock were automatically surrendered to the issuer at $1.595 per share to cover tax obligations upon vesting of restricted share units and performance-based restricted share units granted on various prior dates. Footnotes explain that one new restricted share unit award vests 50% on 05/15/27 and 50% on 05/15/28, subject to his continued employment.
Sabre Corp President, Product/Engineering Garry R. Wiseman reported equity compensation and related tax withholding in company stock. On May 15, 2026 he acquired 484,848 common shares from vested performance-based restricted share units and 64,655 additional restricted share units as a new grant. In connection with the vesting of various 2023–2025 grants, a total of 108,272 shares were automatically surrendered to the issuer at $1.595 per share to satisfy tax withholding obligations rather than being sold on the open market. The new restricted share units vest 50% on May 15, 2027 and 50% on May 15, 2028, subject to his continued employment.
Sabre Corp CEO and President Kurt Joseph Ekert reported equity compensation and related tax events. He received a grant of 1,818,182 restricted share units and 237,069 performance-based restricted share units that vested into common stock. In separate entries, 426,006 shares were automatically surrendered to Sabre at $1.595 per share to satisfy tax withholding obligations, rather than sold on the open market.
Sabre Corp EVP & Chief Operating Officer Shawn G. Williams reported equity compensation activity involving common stock on May 15, 2026. He acquired 404,040 shares tied to performance-based restricted share units that vested from a grant dated May 15, 2023, and also received a grant of 77,586 restricted share units that vest 50% on May 15, 2027 and 50% on May 15, 2028, subject to continued employment.
To cover tax withholding obligations upon vesting of various restricted share unit awards, Williams automatically surrendered a total of 116,303 shares to the issuer at a price of $1.595 per share in several transactions. These dispositions were for tax payments rather than open-market sales.
Sabre Corp executive Rochelle Boas, EVP and Chief Legal Officer, reported an equity award of 323,232 shares of common stock on May 15, 2026, at a stated price of $0.00. A related restricted share unit grant vests 50% on May 15, 2027 and 50% on May 15, 2028, subject to her continued employment.
On the same date, 42,134 shares were automatically surrendered at $1.595 per share to satisfy tax withholding obligations linked to a prior restricted share unit vesting. After these transactions, Boas directly holds 859,735 shares of Sabre common stock.