Streetbeat News

GBTG

Global Business Travel Group, Inc.

https://www.amexglobalbusinesstravel.com

Industry

Software - Application

Global Business Travel Group, Inc. provides business-to-business (B2B) travel platform. The company's platform offers a suite of technology-enabled solutions to business travelers and corporate clients, travel content suppliers, and third-party travel agencies. Its platform manages travel, expenses, and meetings and events for companies. The company has built marketplace in B2B travel to deliver unrivalled choice, value, and experiences. Global Business Travel Group, Inc. is based in New York, New York.

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Global Business Travel Group's stock is trading higher following the announcement that its American Express Global Business Travel division has entered into an agreement to acquire CWT.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 7:57 pm

American Express Global Business Travel (Amex GBT), operated by Global Business Travel Group, Inc (NYSE:GBTG), has agreed to acquire CWT for $570 million. The deal, expected to close in the second half of 2024, will be funded through stock and cash. CWT is anticipated to generate $850 million in revenues and $70-$80 million in Adjusted EBITDA in 2024. The acquisition aims to create value for customers, employees, and shareholders, with $155 million in synergies identified. GBTG's stock rose 3.91% in premarket trading to $5.85.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 1:06 pm

American Express Global Business Travel (GBT), operated by Global Business Travel Group (GBTG), has finalized an agreement to acquire CWT for about $570 million on a cash-free, debt-free basis. This strategic acquisition is aimed at expanding GBT's global footprint and enhancing its service offerings in the business travel sector.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:12 am

In Tuesday's pre-market session, several consumer discretionary stocks showed significant movement. ATRenew, ZHONGCHAO, Beachbody Co, MINISO Group Holding, Target Hospitality, and JOANN were among the gainers, with notable increases in their stock prices following earnings reports and other market activities. Conversely, Workhorse Gr, Kidpik, Dogness (Intl), Jeffs Brands, Global Business Travel, and QuantaSing Group experienced declines, with some attributing their drops to recent earnings reports.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 1:06 pm

Global Business Travel Group Inc (NYSE:GBTG), also known as Amex GBT, reported a 4.2% year-on-year increase in Q4 FY23 sales to $549 million, surpassing analyst expectations. The growth was attributed to an increase in Total Transaction Value due to a rise in business travel and Product & Professional Services revenue. Operating expenses decreased by 4%, and the net loss narrowed to $(46) million. Adjusted EBITDA rose by 83% to $80 million, with a significant improvement in the adjusted EBITDA margin. The company forecasts a revenue growth of 6% - 9% for FY24, aiming for $2.43 billion to $2.50 billion, slightly below the $2.51 billion estimate. Adjusted EBITDA is expected to be between $450 million and $500 million, with a free cash flow of over $100 million. GBTG shares dropped by 1.22% to $5.601.

Portfolio Pulse from Shivani Kumaresan

March 05, 2024 | 5:04 pm

American Express Global Business Travel, a part of Global Business Travel Group (GBTG), forecasts its FY24 revenue to be between $2.43B and $2.50B, which is slightly below the estimated $2.51B.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:51 pm

Global Business Travel (NYSE:GBTG) reported Q4 sales of $549.00M, surpassing the analyst consensus estimate of $541.17M by 1.45% and marking a 4.17% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:49 pm

Earnings reports for March 5, 2024, include a mix of expected quarterly losses and earnings from various sectors. Notable companies like NIO, Target, and Nordstrom are among those reporting. The reports span across different industries, including automotive, retail, biotech, and technology, indicating a broad market impact.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 10:00 am

Global Business Travel (NYSE:GBTG) is expected to report a quarterly EPS of $-0.03 on March 5, 2024. Analysts and investors are keen on whether the company will surpass this estimate and provide positive future guidance. Historical data shows mixed earnings performance and a general negative trend in stock price over the last year, with shares down 18.19%.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:03 pm

Citigroup analyst Peter Christiansen has upgraded Global Business Travel (GBTG) from Neutral to Buy and increased the price target from $7.5 to $8. The upgrade suggests a positive outlook on GBTG's stock performance.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 6:14 pm

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