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

SEC Filings

EXPE Quarterly Reports

Expedia Group, Inc.

CIK: 1324424 Ticker: EXPE
Exhibit 99.1

Expedia Group Reports Third Quarter 2022 Results
SEATTLE, WA – November 3, 2022 – Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the third quarter ended September 30, 2022.

"The third quarter marked another period of robust travel demand despite the uncertain macroeconomic environment. We delivered strong financial performance with record quarterly revenue and adjusted EBITDA, which exceeded $1 billion for the first time. These results reflect our emphasis on driving topline growth while improving margins," said Peter Kern, Vice Chairman and CEO, Expedia Group. "Our active loyalty members and active app users are at all-time highs, reflecting our ongoing focus on enhancing our products, technology and consumer offerings to drive greater engagement with our travelers and a more direct and valuable base of business."

Key Highlights
Record quarterly revenue and third quarter lodging bookings.
Net income up 33% against 2021 and record adjusted EBITDA.
Free cash flow for the first nine months of 2022 was $3.1 billion, more than double 2019 levels.
Resumed share buybacks with 2 million shares repurchased through October for approximately $200 million.
Retired $500 million of debt, resulting in cumulative debt and preferred equity reduction of over $3.4 billion over the past 18 months.

Financial Summary & Operating Metrics ($ millions except per share amounts)(1)
Expedia Group, Inc.
MetricQ3 2022Q3 2021Δ Y/Y
Booked room nights81.665.425%
Stayed room nights93.277.820%
Gross bookings$23,987$18,72528%
Operating income74752442%
Net income attributable to Expedia Group common stockholders48236233%
Diluted earnings per share$2.98$2.2632%
Adjusted EBITDA(2)
Adjusted net income(2)
Adjusted EPS(2)
Net cash used in operating activities(997)(1,221)(18)%
Free cash flow(2)

(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.

Page 1 of 18

The following information was filed by Expedia Group, Inc. (EXPE) on Thursday, November 3, 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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Expedia Group, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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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
Capital Stock
Capital Stock - Accumulated Other Comprehensive Income (Loss) (Details)
Capital Stock - Share Repurchases (Details)
Capital Stock - Treasury Stock (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Long Term Debt Outstanding (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Detail)
Earnings (Loss) Per Share - Basic And Diluted Earnings (Loss) Per Share (Details)
Earnings Per Share (Tables)
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)
Fair Value Measurements -Schedule Of Fair Value Rollforward (Details)
Income Taxes
Income Taxes - Additional Information (Detail)
Segment Information
Segment Information (Detail)
Segment Information (Tables)
Segment Information - Revenue By Business Model And Service Type (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: 0001324424-22-000065
Submitted to the SEC: Thu Nov 03 2022 5:42:33 PM EST
Accepted by the SEC: Fri Nov 04 2022
Period: Friday, September 30, 2022
Industry: Transportation Services

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