Shares of Sabre Corp. SABR, -6.46% were indicated down nearly 9% in premarket trading Wednesday, after the travel services company said the coronavirus outbreak will have a 'material impact' on 2020 results, as it has weighed on travel bookings to start the year. The company also reported fourth-quarter net income that fell 88% from a year ago, an adjusted profit that matched expectations and revenue that rose less than expected. The company said the estimated impact for the first quarter of EPS of 14 cents to 23 cents and for revenue of $100 million to $150 million. The FactSet consensus for first-quarter EPS is 38 cents and for revenue is $1.07 billion. "The situation continues to evolve, and while we hope its impact will be short-term in nature, Coronavirus will have a material impact on our 2020 financial results," said Chief Executive Sean Menke. "We have not incorporated its impact into our 2020 guidance at this point." For 2020, Sabre expects adjusted earnings per share of $1.10 to $1.30, compared with the FactSet consensus of $1.24, and said it expects revenue growth in the "low-single digit" percentage range, while the FactSet revenue consensus of $4.13 billion implies a 3.8% rise. The stock has dropped 14.4% over the past three months through Tuesday, while the S&P 500 SPX, -3.03% has slipped 0.4%.
"to have an impact" - Google News
February 26, 2020 at 08:32PM
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Sabre sees coronavirus outbreak to have 'material impact' on 2020 results - MarketWatch
"to have an impact" - Google News
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