The raised EBITDA and FCF guidance confirm improving operational momentum. Monitor Q3 2026 results for continued execution against the $155M Pro Forma Adjusted EBITDA target and progress on debt reduction. The stock's $838M market cap against $3.8B net debt keeps leverage risk elevated despite operational improvements.
Price Chart
Executive Summary
Sabre Corp reported Q2 2026 revenue of $712M (+4% YoY) and Normalized Adjusted EBITDA of $151M (+19% YoY), exceeding its own guidance. The company raised full-year 2026 Pro Forma Adjusted EBITDA guidance to $600M (+12% YoY) and improved Free Cash Flow guidance to $(65M), while reaffirming revenue and air bookings guidance. This marks a second consecutive quarter of outperformance and signals improving operational leverage and cash generation.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $711.96M, up 4% from $687.15M in Q2 2025
- Normalized Adjusted EBITDA $151.15M, up 19% from $127.20M in Q2 2025
- Free Cash Flow turned positive at $9.75M vs -$240.16M in Q2 2025
- Full-year 2026 Pro Forma Adjusted EBITDA guidance raised to $600M (was $585M)
- Full-year 2026 Free Cash Flow guidance improved to $(65M) (was $(70M))
- Marketplace revenue grew 6% to $577M; Airline Technology revenue declined 4% to $135M
- Net debt reduced to $3.81B from $4.74B a year ago
Financial Impact
Raised FY2026 Pro Forma Adjusted EBITDA by $15M to $600M (+12% YoY) and FCF guidance by $5M to $(65M); Q2 Normalized Adjusted EBITDA margin expanded 270bps to 21.2%
Risk Factors
- High net debt of $3.81B relative to $838M market cap
- Middle East conflict and fuel prices continue to weigh on air travel demand
- GAAP net loss of $36M in Q2; company remains unprofitable on a GAAP basis
- Airline Technology revenue declined 4% YoY, signaling potential headwinds in that segment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-053858 |
| Document: sabr-20260806.htm | 0001628280-26-053858 |
| Document: 0001628280-26-053858-index-headers.html | 0001628280-26-053858 |
| Document: 0001628280-26-053858-index.html | 0001628280-26-053858 |
| Document: 0001628280-26-053858.txt | 0001628280-26-053858 |
| 8-K Data (Synthetic) | 0001628280-26-053858 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | Press Release | $1.79 $1.68 | ▼ −6.15% | ▼ −5.04% | $1.64 (−8.38%) |
Oct 14, 2026 12d ago | 8-K | $1.78 $1.79 | ▲ +0.56% | ▲ +0.28% | $1.64 (−7.87%) |
Sep 28, 2026 28d ago | 8-K | $2.13 $2.12 | ▼ −0.47% | ▼ −0.26% | $1.64 (−23.00%) |
Sep 25, 2026 4w ago | Press Release | $2.10 $2.13 | ▲ +1.43% | ▲ +1.61% | $1.64 (−21.90%) |
Aug 6, 2026 11w ago | Press Release | $2.24 $2.07 | ▼ −7.59% | ▼ −8.20% | $1.64 (−26.79%) |
Aug 6, 2026 11w ago | 8-K | $2.24 $2.07 | ▼ −7.59% | ▼ −8.20% | $1.64 (−26.79%) |
Jun 11, 2026 19w ago | Institutional Cluster | $1.68 $1.70 | ▲ +1.19% | ▲ +0.65% | $1.64 (−2.38%) |
May 19, 2026 22w ago | 8-K | $1.58 $1.56 | ▼ −1.27% | ▼ −1.46% | $1.64 (+3.93%) |
May 7, 2026 24w ago | 8-K | $2.06 $2.04 | ▼ −0.97% | ▼ −1.80% | $1.64 (−20.31%) |
Apr 14, 2026 27w ago | DEFA14A | $1.56 $1.75 | ▲ +12.20% | ▲ +11.42% | $1.64 (+5.26%) |
US Market Status
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