Global Business Travel Group, Inc. (NYSE:GBTG) Q3 2024 Earnings Conference Call November 5, 2024 9:00 AM ET

Company Participants

Jennifer Thorington - VP, IR
Paul Abbott - CEO
Karen Williams - CFO

Conference Call Participants

Peter Christiansen - Citi
Duane Pfennigwerth - Evercore ISI
Lee Horowitz - Deutsche Bank

Operator

Good morning and welcome to the American Express Global Business Travel Third Quarter 2024 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, Jennifer Thorington. Please go ahead.

Jennifer Thorington

Hello and good morning, everyone. Thank you for joining us for our third quarter 2024 earnings conference call. This morning, we issued an earnings press release, which is available on sec.gov and on our website at investors.amexglobalbusinesstravel.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 or 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 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, Jennifer. Welcome to everyone and thank you for joining our third quarter 2024 earnings call. In the third quarter, we continued to drive strong momentum and deliver strong financial results. Our focus on controlling costs and driving operating leverage drove impressive adjusted EBITDA growth with significant margin expansion, giving us confidence to narrow the range and reiterate the midpoint of our full year adjusted EBITDA guidance.