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Despegar.com reports Q4 EPS (30c) vs. (26c) last year.

Reports Q4 revenue $145.5M vs. $124.6M last year. Damian Scokin, CEO said: "A fifth consecutive quarter of positive Adjusted EBITDA reflects our consistent and disciplined execution as well as a still improving revenue mix. In what was expected to be a challenging demand environment marked by steep inflation and substantially higher airfares, we held fast with a Take Rate of 13.8%, above our long-term target, while maintaining a low cost structure. Adjusted EBITDA also benefited from ASPs that grew 29% over 4Q21, thanks in part to a greater mix of more profitable travel packages, which increased 265 basis points to 31% of Gross Bookings…ASPs also helped us deliver a second consecutive quarter of consolidated revenue above $140M…We are nearing the end of the first quarter and I’m glad to report that travel demand has picked up considerably, which bodes well for the rest of 2023, particularly with regard to our operating leverage. As such, we anticipate 1Q23 Adjusted EBITDA in dollars to be in the "mid teens" area. We are also initiating annual financial guidance, and expect to deliver 2023 consolidated revenues in the range of $640M-$700M and Adjusted EBITDA between $80M-$100M, in line with the projections we provided during last year’s Investor Day which assume a full recovery in Latin America’s travel market by year-end 2023…"

Published first on TheFly

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