Expedia Group, Inc. (EXPE) 10-Q Quarterly Report August 2022

“We are very pleased with our financial performance this quarter. Lodging bookings reached a record high, and we posted our highest ever second quarter revenue and adjusted EBITDA. These were even more noteworthy given the simplification efforts we undertook two years ago including the sale of our Egencia corporate travel business.” said Peter Kern, Vice Chairman and CEO, Expedia Group. “Despite the disruptions during the summer travel season and an uncertain macroeconomic backdrop, travel demand has remained strong. We continue to focus our energy on improving our technology for our travelers and partners and attracting more valuable customers through direct relationships. These actions, along with prior actions to drive efficiency, put us in a better position to withstand any further macroeconomic headwinds should they arise.”

Key Highlights

•Lodging bookings were the highest in the company's history, while revenue and adjusted EBITDA were the highest for any second quarter.

•Lodging gross bookings were up 8% versus the second quarter 2019.

•Revenue was $3.2 billion, up 51% versus the second quarter 2021 and up 1% versus the second quarter 2019.

•Net loss was $185 million and adjusted net income was $310 million. Adjusted EBITDA was $648 million, up 14% versus the second quarter 2019.

•On May 30th, the Company completed the early redemption of its $500 million Senior Notes due December 2023. On June 13th, the Company completed the early redemption of its $500 million Senior Notes due August 2024. Since May 2021, the Company has repaid over $2.9 billion of net debt and preferred equity.

Financial Summary & Operating Metrics ($ millions except per share amounts)(1)



	Expedia Group, Inc.
Metric	Q2 2022	Q2 2021	Δ Y/Y
Booked room nights	82.5	68.4	21%
Stayed room nights	79.1	56.6	40%
Gross bookings	$26,139	$20,815	26%
Revenue	3,181	2,111	51%
Operating income (loss)	345	(132)	NM
Net income (loss) attributable to Expedia Group common stockholders	(185)	(301)	(39)%
Diluted earnings (loss) per share	$(1.17)	$(2.02)	(42)%
Adjusted EBITDA(2)	648	201	223%
Adjusted net income (loss)(2)	310	(169)	NM
Adjusted EPS(2)	$1.96	$(1.13)	NM
Free cash flow(2)	1,469	2,331	(37)%

(1)All comparisons are against comparable period of 2021 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 11-18 herein for an explanation and reconciliation of non-GAAP measures used throughout this release. Expedia Group does not calculate or report net income by segment.

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The following information was filed by Expedia Group, Inc. (EXPE) on Thursday, August 4, 2022 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.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Expedia Group, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 22: Published Report Regarding Matters Submitted To Vote Of Security Holders

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.3: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 32.3: Section 1350 Certification

Ticker: EXPE
CIK: 1324424
Form Type: 10-Q Quarterly Report
Accession Number: 0001324424-22-000051
Submitted to the SEC: Thu Aug 04 2022 5:41:09 PM EST
Accepted by the SEC: Fri Aug 05 2022
Period: Thursday, June 30, 2022
Industry: Transportation Services

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Expedia Group, Inc. (EXPE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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