Global Business Travel Group, Inc. (NYSE:GBTG) Q3 2023 Earnings Conference Call November 7, 2023 9:00 AM ET

Company Participants

Barry Sievert - Vice President of Investor Relations

Paul Abbott - Chief Executive Officer

Karen Williams - Chief Financial Officer

Eric Bock - Chief Legal Officer and Head of Global M&A

Conference Call Participants

Lee Horowitz - Deutsche Bank

Hilary Lee - Morgan Stanley

Operator

Good morning. And welcome to the American Express Global Business Travel Third Quarter 2023 Earnings Conference Call. As a reminder, please note today's call is being recorded.

I will now turn the call over to the Vice President of Investor Relations, Barry Sievert. Please go ahead.

Barry Sievert

Hello. And good morning everyone. Thank you for joining us for our third quarter earnings conference call. This morning we issued an earnings press release, which is available on SEC.gov and on our website at investors.mxglobalbusinesstravel.com.

A slide presentation, which accompanies today's prepared remarks is also available on the Amex GBT Investor Relations webpage. We would like to advise you that our comments contain forward-looking statements, that represent our beliefs, our expectations about future events, including industry and macroeconomic trends, cost savings and acquisition synergies among others.

All forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the statements made on today's conference call. More information on these and other risks and uncertainties is contained in our earnings release issued this morning and in our other SEC filings.

Throughout today's call, we will also be presenting certain non-GAAP financial measures such as EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted operating expenses, free cash flow and net debt. All references during today's call to such non-GAAP financial measures have been adjusted to exclude certain items. Definitions of these terms and the most directly comparable GAAP measures and reconciliations for non-GAAP measures are available in the supplemental materials of this presentation and in the earnings release.

Participating with me today are Paul Abbott, our Chief Executive Officer; and Karen Williams, our Chief Financial Officer. Also joining for the Q&A session today, is Eric Bock, our Chief Legal Officer and Head of Global M&A.

With that I will now turn the call over to Paul. Paul?

Paul Abbott

Thank you, Barry. And welcome and thank you all for joining our third quarter earnings call. In the third quarter, we once again delivered outstanding financial results, driven by our focus on margin expansion, cost savings, Egencia synergies and continued share gains. Our results are ahead of guidance with revenue and adjusted EBITDA growth of 17% and 135% respectively.