Last10K.com

Expedia Group, Inc. (EXPE) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Expedia Group, Inc.

CIK: 1324424 Ticker: EXPE
Exhibit 99.1

        eghorizontalwhiteonbluea06.jpg

Expedia Group Reports First Quarter 2020 Results
SEATTLE, WA – May 20, 2020 – Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the first quarter ended March 31, 2020.

“Like all travel companies, Expedia Group suffered a major reduction in business since the onset of COVID-19. Fortunately, we were ahead of the game having implemented cost savings measures earlier this year, and with the added pressure from COVID-19 we accelerated and expanded our ambition on improving our long-term cost structure,” said Vice Chairman and CEO Peter Kern. “We also raised significant additional capital, to further strengthen our liquidity position as we navigate this disruption and position the business for recovery.”

Kern added, “During the depth of the global shutdown we have focused on helping our customers and suppliers through these unprecedented circumstances. Our teams have done exceptional work in an impossible environment, and much of that work, and all the initiatives we have been executing across the company, will continue to provide benefits when we return to more normalized business levels. I am confident we are truly resetting our company and how we do business for the future. While we cannot control how and when travel recovers, we know it will come back, and when it does, we will emerge as a much stronger company.”

Response to COVID-19 Pandemic
As part of the unprecedented customer service demand due to COVID-19, Expedia Group handled 22 million customer contacts over a ten week period, more than double our typical average customer contacts.
To service the unprecedented cancellation volume due to COVID-19, teams across Expedia Group rapidly developed customer self-service options to cancel lodging and air bookings without speaking to an agent and built automation capabilities to allow supply partners to initiate cancellations. As a result, the percentage of cancellation inquiries for air travel managed without an agent increased from approximately 65% in February to over 95% in April.
Expedia Group secured $3.95 billion in additional funding, including $1.2 billion in preferred equity investments from two of the world's leading alternative asset managers, Apollo Global Management and Silver Lake, as well as $2.75 billion in 5-year unsecured senior notes.
In addition to previously announced cost initiatives, Expedia Group took several incremental actions to reduce costs to help mitigate the financial impacts from COVID-19, including a significant reduction in variable marketing and discretionary expenses as well as a deferral of certain capital expenditures.

Financial Summary & Operating Metrics ($ millions except per share amounts)(1) 
 
Expedia Group, Inc.
Metric
Q1 2020
Q1 2019
Δ Y/Y
Room night growth
(14)%
9%
NM
Gross bookings
$17,885
$29,409
(39)%
Revenue
2,209
2,609
(15)%
Operating loss
(1,294)
(131)
888%
Net loss attributable to Expedia Group
(1,301)
(103)
NM
Diluted loss per share
$(9.24)
$(0.69)
NM
Adjusted EBITDA(2)
(76)
176
NM
Adjusted net loss(2)
(258)
(40)
545%
Adjusted EPS(2)
$(1.83)
$(0.27)
577%
Free cash flow(2)
(1,071)
1,875
NM

Page 1 of 18

The following information was filed by Expedia Group, Inc. (EXPE) on Wednesday, May 20, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Expedia Group, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Expedia Group, Inc..

Continue

Assess how Expedia Group, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Expedia Group, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
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 (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Basis Of Presentation
Basis Of Presentation (Tables)
Basis Of Presentation - Reclassifications (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Fair Value Of Outstanding Debt (Details)
Debt - Long Term Debt Outstanding (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share - Additional Information (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Income Taxes
Income Taxes - Additional Information (Detail)
Restructuring And Related Reorganization Charges
Restructuring And Related Reorganization Charges (Details)
Restructuring And Related Reorganization Charges (Tables)
Restructuring And Related Reorganization Charges - Summary Of The Restructuring And Related Reorganization Activity (Details)
Segment Information
Segment Information (Detail)
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Revenue By Business Model And Service Type (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Accumulated Other Comprehensive Loss (Details)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Summary Of Dividends Declared (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Accounts Receivable And Allowances (Details)
Summary Of Significant Accounting Policies - Cash, Cash Equivalents, And Restricted Cash (Details)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Ticker: EXPE
CIK: 1324424
Form Type: 10-Q Quarterly Report
Accession Number: 0001324424-20-000040
Submitted to the SEC: Wed May 20 2020 5:43:39 PM EST
Accepted by the SEC: Thu May 21 2020
Period: Tuesday, March 31, 2020
Industry: Transportation Services

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/expe/0001324424-20-000040.htm