Global Business Travel Group, Inc. (NYSE:GBTG) Q1 2024 Earnings Call Transcript May 7, 2024
Global Business Travel Group, Inc. wasn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see more).
operator: good morning. Welcome to the American Express Global Business Travel Q1 2024 Earnings Conference Call. Please note that today’s call is being recorded. I’ll now turn the call over to Jennifer Thorington, vice president of investor relations. Please move on.
Jennifer Thorington: Hello. And good morning everyone. Thank you for joining us for our Q1 2024 Earnings Conference Call. This morning, we issued a financial results press release. This press release is available at sec.gov and our website investors.mxglobalbusinesstravel.com. A slide presentation accompanying today’s prepared remarks is also available on the Amex GBT Investor Relations webpage. Please note that our comments contain certain forward-looking statements that express our beliefs and expectations about future events, including industry and macroeconomic trends, cost savings and acquisition synergies. To do. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in today’s conference call.
Further information regarding these and other risks and uncertainties is contained in the Company’s financial results and other SEC filings issued this morning. Throughout today’s call, we will also present certain non-GAAP financial measures, including EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Expenses, Free Cash Flow, and Net Debt. All references to such non-GAAP financial measures today have been adjusted to exclude certain items. Definitions of these terms and reconciliations of the most directly comparable GAAP measures and non-GAAP measures are available in the supplementary materials to this presentation and in the financial results release. Joining me today is our CEO, Paul Abbott. and Karen Williams, our Chief Financial Officer.
Joining us for today’s Q&A session is Eric Bock, our Chief Legal Officer and Head of Global M&A. I’ll now turn the phone over to Paul. Pole?
Paul Abbott: Thank you, Jennifer. Welcome everyone. Thank you for participating in our 2024 first quarter financial results briefing. In the first quarter, the company achieved strong financial results with continued stock appreciation, strong margin expansion, and 24% adjusted EBITDA growth, delivering the company’s highest ever first quarter adjusted EBITDA. Achieved. His TTV’s total trading value increased by 9% in the quarter, and revenue increased by his 6%. Adjusting for the reduction in working days in the first quarter of this year compared to last year, the growth rates would have been 10% and 7%, respectively. These strong results are in line with our expectations and put us on track to meet our full-year guidance. Shares continued to rise due to increased demand for our core software and services.
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