Key Developments: Orbitz Worldwide Inc (OWW)
8.18USD
24 May 2013
$0.23 (+2.89%)
$7.95
$7.98
$8.20
$7.84
998,686
864,994
$8.37
$2.07
Latest Key Developments (Source: Significant Developments)
Orbitz Worldwide Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates; Raises FY 2013 Revenue Guidance; Reaffirms FY 2013 EBITDA Guidance-Conference Call
Orbitz Worldwide Inc announced that for the second quarter of 2013, it expects net revenue of between $214 million and $220 million and adjusted EBITDA of between $35 million and $39 million for the second quarter. For fiscal 2013, it expects net revenue to be up between of 4% and 7% and adjusted EBITDA to be up between 5% and 10%. The Company reported revenue of $778.80 million and EBITDA of $116.29 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $214 million and EBITDA of $36 million for the second quarter of 2013; revenues of $816 million and EBITDA of $136 million for fiscal 2013. Full Article
Orbitz Worldwide Inc, American Airlines Settle Dispute Over Distribution Costs-Reuters
Reuters reported that American Airlines and Orbitz Worldwide Inc which have been locked in a years-long dispute over travel distribution costs and methods said they have reached an agreement resolving the litigation between them. American had sued Orbitz in April 2011, saying the online agency and airfare data provider Travelport, which owns a 48 percent share in Orbitz, made American's fares look higher than they were to consumers. Full Article
Orbitz Worldwide Inc Refinances Term Loan
Orbitz Worldwide Inc announced it has secured new $450 million senior secured term loans consisting of a $150 million Tranche B term loan maturing in September 2017 and a $300 million Tranche C term loan maturing in March 2019. A portion of the net proceeds from the term loans, together with cash from the Company's balance sheet, was used to refinance $415 million of existing debt, which was scheduled to mature in July 2014, and $50 million are to be used to cash collateralize letters of credit. The Company also secured a new $65 million revolving credit facility replacing its $72.5 million revolving credit facility, which was scheduled to mature in July 2013. The revolving credit facility will be used for general corporate purposes. Full Article
Orbitz Worldwide Inc Names Mike Randolfi As CFO
Orbitz Worldwide Inc announced that the appointment of Mike Randolfi as the Company's CFO, effective March 11. Mike joins Orbitz Worldwide from Delta Air Lines, where he currently serves as senior vice president and controller. Full Article
Orbitz Worldwide Inc Issues Q1 2013 Guidance In Line With Analysts' Estimates; Issues FY 2013 Guidance; EBITDA Guidance Below Analysts' Estimates-Conference Call
Orbitz Worldwide Inc announced that for first quarter of 2013, it expects net revenue between $194 million and $200 million and adjusted EBITDA between $17 million and $21 million. For fiscal 2013, it expects net revenue growth between 2.5% and 5% and adjusted EBITDA growth between 5% and 10%. The Company reported revenue of $778.80 million and EBITDA of $116.29 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $198 million and EBITDA of $19.9 million for first quarter of 2013; revenues of $813 million and EBITDA of $138 million for fiscal 2013. Full Article
Orbitz Worldwide Inc Announces CFO Change-Form 8-K
Orbitz Worldwide Inc reported in its Form 8-K that the Board of Directors of Orbitz Worldwide, Inc. (Company) appointed David Belmont as Interim Chief Financial Officer (CFO). On January 3, 2013, Mitch Marcus announced his intention to resign as Chief Financial Officer (CFO) to pursue other opportunities. Mr. Belmont's appointment and Mr. Marcus's resignation are both effective January 8, 2013. Full Article
Orbitz Worldwide Inc Issues Q4 2012 Guidance In Line With Analysts' Estimates; Reaffirms FY 2012 Guidance-Conference Call
Orbitz Worldwide Inc announced that for the fourth quarter of 2012, it expect net revenue to be between $183 million and $189 million, and adjusted EBITDA between $32 million and $37 million. For fiscal 2012, it expects net revenue between $772 million and $778 million, and adjusted EBITDA of between $124.5 million and $129.5 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $184 million EBITDA of $36 million for the fourth quarter of 2012; revenues of $774 million for fiscal 2012. Full Article
Orbitz Worldwide Inc To Appoint Mitch Marcus As Chief Financial Officer
Orbitz Worldwide Inc announced the appointment of Mitch Marcus as the Company's Chief Financial Officer, effective Nov. 12, 2012. David Belmont, who has served as interim CFO since June 2012, will return to his position as group vice president, financial planning and analysis. Full Article
Orbitz Worldwide Inc Issues Q3 2012 Guidance Below Analysts' Estimates; Lowers FY 2012 Guidance-Conference Call
Orbitz Worldwide Inc announced that for the third quarter of 2012, it expects net revenue to be in the range of $197-$203 million and adjusted EBITDA to be between $32 million and $38 million. For fiscal 2012, it now expects net revenue growth to be between 2% and 4% and adjusted EBITDA to be flat to up 5%. This guidance assumes FX rates as of July 31, 2012. The Company reported revenue of $767 million and EBITDA of $115 million in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $216 million and EBITDA of $42 million for the third quarter of 2012; and revenue of $808 million and EBITDA of $132 million for fiscal 2012. Full Article
Orbitz Worldwide Inc Issues Q2 2012 Guidance In Line With Analysts' Estimates; Issues FY 2012 Revenue Guidance In Line With Analysts' Estimates; Reaffirms FY 2012 EBITDA Guidance-Conference Call
Orbitz Worldwide Inc announced that for the second quarter of 2012, it expects net revenue in the range of $205 million to $211 million and adjusted EBITDA in the range of $31 million to $35 million. For fiscal 2012, the Company expect net revenue to grow between 4% and 8%. The Company is reaffirming its fiscal 2012 adjusted EBITDA guidance, but thought it would be worth providing a bit more clarity about exactly what the Company mean by high-single digits and low double-digit growth in adjusted EBITDA. The Company expects adjusted EBITDA fiscal 2012 to grow between 7% and 12%. The Company reported revenue of $767 million and EBITDA of $115 million in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $209 million and EBITDA of $35 million for the second quarter of 2012; and revenue of $799 million and EBITDA of $130 million for fiscal 2012. Full Article
Orbitz posts profit, says hotel business picking up
- Orbitz Worldwide Inc. , the online travel agency, reported a quarterly profit on Thursday and forecast revenue for the current quarter above Wall Street's estimates, sending its shares up 23 percent above their high for the year.
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