Expedia Group, Inc. (EXPE) 10-Q Quarterly Report November 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.
Metric	Q3 2022	Q3 2021	Δ Y/Y
Booked room nights	81.6	65.4	25%
Stayed room nights	93.2	77.8	20%
Gross bookings	$23,987	$18,725	28%
Revenue	3,619	2,962	22%
Operating income	747	524	42%
Net income attributable to Expedia Group common stockholders	482	362	33%
Diluted earnings per share	$2.98	$2.26	32%
Adjusted EBITDA(2)	1,079	855	26%
Adjusted net income(2)	640	553	16%
Adjusted EPS(2)	$4.05	$3.53	15%
Net cash used in operating activities	(997)	(1,221)	(18)%
Free cash flow(2)	(1,167)	(1,400)	(17)%

(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, 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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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: 0001324424-22-000065
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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Expedia Group, Inc. (EXPE) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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