Amex GBT Delivers Strong Q2 with Revenue Surging 38% to $870M; Shareholders Greenlight $9.50/Share Buyout
GBTG sits 90% above its 52-week low of $4.955 on light trading volume (0.3× avg).
Summary
Amex GBT reported Q2 revenue of $870M (+38% YoY) and Adjusted EBITDA of $178M, alongside shareholder approval of its $9.50/share buyout by Long Lake Management. The merger is expected to close in H2 2026 pending regulatory approvals.
Key Events · Earnings and Guidance · GBTG
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Q2 Revenue Jumps 38% to $870M
Revenue reached $870 million, up 38% year-over-year, with Travel Revenue up 38% and Product & Professional Services Revenue up 38%. Excluding acquisitions, organic revenue growth was 10%.
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Adjusted EBITDA Rises 34% to $178M
Adjusted EBITDA of $178 million represented a 34% increase, with margin holding at 21%. Free Cash Flow surged 281% to $103 million, driven by higher operating cash flow.
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Shareholders Approve $9.50/Share Buyout
On August 3, 2026, shareholders voted 99.98% in favor of the acquisition by Long Lake Management at $9.50 per share. The merger is expected to close in the second half of 2026, subject to regulatory approvals.
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Commercial Momentum: $3.5B in New Wins
LTM Total New Wins Value accelerated to $3.5 billion, including major wins with Google, Koch, and Pfizer. Customer retention remained strong at 95%, including CWT.
Analysis · GBTG · Energy & Transportation
Global Business Travel Group turned in a powerful second quarter, as revenue jumped 38% to $870 million and Adjusted EBITDA climbed 34% to $178 million, fueled by acquisitions and organic expansion. The results come just one day after shareholders overwhelmingly approved the $9.50 per share acquisition by Long Lake Management, clearing a major hurdle toward closing in the second half of 2026. The combination of robust operating momentum and near-certain deal completion reinforces the investment thesis, though the stock already trades near the deal price, limiting further upside.
At the time of this filing, GBTG was trading at $9.40 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $4.96 to $9.54. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.