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Expedia Group, Inc. (EXPE) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Expedia Group, Inc.

CIK: 1324424 Ticker: EXPE
Exhibit 99.1

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Expedia Group Reports Fourth Quarter and Full Year 2019 Results
SEATTLE, WA – February 13, 2020 – Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the fourth quarter and full year ended December 31, 2019.

“Since our management change in December we have re-focused the company on our core operations which had suffered for much of 2019. We have rapidly moved to simplify how we operate and increase efficiency. These changes helped us exceed the high-end of our revised guidance range in 2019 and will contribute to accelerated profit growth in our underlying business in 2020. In addition, we are targeting $300-500 million of run-rate cost savings across our business. We are not providing a specific guidance range given uncertainty on how much cost savings we’ll recognize this year and the full effect of Coronavirus. However, taking these factors into account, we expect 2020 Adjusted EBITDA growth to be in the double-digits,” said Chairman Barry Diller and Vice Chairman Peter Kern. “More importantly, the actions we’re taking to simplify our business and drive cost efficiency will position Expedia Group for improved revenue growth and margin expansion for years to come.”

Key Highlights(1) 
Gross bookings and revenue each increased 8%, to $107.9 billion and $12.1 billion, respectively for the full year 2019.
Total stayed lodging room nights increased 11% for both the fourth quarter and full year 2019.
For full year 2019, Net income and Adjusted EBITDA grew 39% and 8%, respectively.
Net cash provided by operating activities and free cash flow grew 40% and 46%, respectively for the full year 2019 to $2.8 billion and $1.6 billion, respectively.
From early December through early February, Expedia Group repurchased 5.8 million shares for $634 million. For full year 2019, Expedia Group repurchased 5.6 million shares for $683 million.

Financial Summary & Operating Metrics ($ millions except per share amounts) - Fourth Quarter 2019
 
Expedia Group (excluding trivago)(3)
Expedia Group, Inc.
Metric
Q4 2019
Q4 2018
Δ Y/Y
Q4 2019
Q4 2018
Δ Y/Y
Room night growth
11%
11%
(19) bps
11%
11%
(19) bps
Gross bookings
$23,245
$21,957
6%
$23,245
$21,957
6%
Revenue
2,630
2,439
8%
2,747
2,559
7%
Operating income
147
75
94%
160
96
65%
Net income attributable to Expedia Group
 
 
 
76
17
349%
Diluted earnings per share
 
 
 
$0.52
$0.11
363%
Adjusted EBITDA(2)
449
438
2%
478
471
1%
Adjusted net income(2)
174
180
(4)%
185
191
(3)%
Adjusted EPS(2)
$1.16
$1.18
(1)%
$1.24
$1.24
(1)%
Free cash flow(2)
 
 
 
45
(389)
NM

(1)All comparisons are against comparable period of 2018 unless otherwise noted.
(2)"Adjusted EBITDA" (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization), "Adjusted net income (loss)," "Adjusted EPS" and "Free cash flow" are non-GAAP measures as defined by the Securities and Exchange Commission (the "SEC"). See "Definitions of Non-GAAP Measures" and "Tabular Reconciliations for Non-GAAP Measures" on pages 15-22 herein for an explanation and reconciliations of non-GAAP measures used throughout this release. Expedia Group does not calculate or report net income by segment.
(3)trivago is a separately listed company on the Nasdaq Global Select Market and, therefore, is subject to its own reporting and filing requirements which could result in possible differences that are not expected to be material to Expedia Group.


Page 1 of 23

The following information was filed by Expedia Group, Inc. (EXPE) on Thursday, February 13, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Acquisitions And Other Investments
Acquisitions And Other Investments (Tables)
Acquisitions And Other Investments - Additional Information (Details)
Acquisitions And Other Investments - Summary Of Fair Value Of Assets Acquired And Liabilities Assumed In Conjunction With Acquisition (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Schedule Of Commitments And Obligations (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Fair Value Of Debt Outstanding (Details)
Debt - Long Term Debt Outstanding (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Basic And Diluted Earnings Per Share (Details)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Financial Instruments Measured At Fair Value (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Additional Information (Details)
Goodwill And Intangible Assets, Net - Changes In Goodwill By Reportable Segment (Details)
Goodwill And Intangible Assets, Net - Components Of Intangible Assets With Definite Lives (Details)
Goodwill And Intangible Assets, Net - Estimated Future Amortization Expense Related To Intangible Assets (Details)
Goodwill And Intangible Assets, Net - Schedule Of Goodwill And Intangible Assets (Details)
Guarantor And Non-Guarantor Supplemental Financial Information
Guarantor And Non-Guarantor Supplemental Financial Information (Tables)
Guarantor And Non-Guarantor Supplemental Financial Information - Schedule Of Balance Sheet Information (Details)
Guarantor And Non-Guarantor Supplemental Financial Information - Schedule Of Cash Flow Statement Information (Details)
Guarantor And Non-Guarantor Supplemental Financial Information - Schedule Of Statement Of Operations Information (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Components Of Deferred Tax Assets And Deferred Tax Liabilities (Details)
Income Taxes - Domestic And Foreign Income Loss Before Income Taxes (Details)
Income Taxes - Schedule Of Statutory Federal Income Tax Rate To Income From Continuing Operations Before Income Taxes (Details)
Income Taxes - Summary Of Provision For Income Taxes (Details)
Income Taxes - Uncertain Tax Positions (Details)
Leases
Leases (Details)
Leases (Tables)
Leases Maturities Of Lease Liabilities (Details)
Leases Supplemental Balance Sheet Information (Details)
Leases Supplemental Cash Flow Information (Details)
Liberty Expedia Holdings Transaction
Liberty Expedia Holdings Transaction (Details)
Organization And Basis Of Presentation
Other Income (Expense)
Other Income (Expense) (Tables)
Other Income Expense (Details)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Details)
Property And Equipment, Net - Components Of Property And Equipment, Net (Details)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Tables)
Quarterly Financial Information - Schedule Of Quarterly Financial Information (Details)
Redeemable Non-Controlling Interests
Redeemable Non-Controlling Interests (Tables)
Redeemable Non-Controlling Interests - Reconciliation Of Redeemable Non-Controlling Interest (Details)
Related Party Transactions
Related Party Transactions - Additional Information (Details)
Restructuring And Related Reorganization Charges
Restructuring And Related Reorganization Charges - Additional Information (Details)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Revenue By Services And Geographic Area (Details)
Segment Information - Schedule Of Property Plant And Equipment By Geographic Area (Details)
Segment Information - Schedule Of Segment Information (Details)
Significant Accounting Policies
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Details)
Significant Accounting Policies - Reconciliation Of Cash, Cash Equivalents And Restricted Cash (Details)
Significant Accounting Policies Policies (Policies)
Stock-Based Awards And Other Equity Instruments
Stock-Based Awards And Other Equity Instruments (Tables)
Stock-Based Awards And Other Equity Instruments - Additional Information (Details)
Stock-Based Awards And Other Equity Instruments - Summary Of Restricted Stock Units Activity (Details)
Stock-Based Awards And Other Equity Instruments - Summary Of Stock Option Activity (Details)
Stock-Based Awards And Other Equity Instruments - Weighted Average Assumptions Of Black-Scholes And Monte Carlo Option-Pricing Models (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Accumulated Other Comprehensive Loss (Details)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Effects Of Changes In Noncontrolling Interest (Details)
Stockholders' Equity - Shares Repurchased (Details)
Stockholders' Equity - Summary Of Dividends Declared (Details)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (Details)
Valuation And Qualifying Accounts (Tables)
Ticker: EXPE
CIK: 1324424
Form Type: 10-K Annual Report
Accession Number: 0001324424-20-000009
Submitted to the SEC: Thu Feb 13 2020 7:49:52 PM EST
Accepted by the SEC: Fri Feb 14 2020
Period: Tuesday, December 31, 2019
Industry: Transportation Services

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