Earnings Call
May 7, 2026
Q1 FY2026
EPS Estimate
1.41
EPS Actual
1.96
Post-Earnings Close
$229.98
Earnings Reaction
-9.0%
Expedia Group opened 2026 with its strongest first-quarter margin performance in 15 years, delivering adjusted EBITDA of $542 million at a 15.8% margin, nearly 6 points of year-over-year expansion, while growing gross bookings 13% and revenue 15% to $3.4 billion, both ahead of the high end of guidance. Adjusted EPS of $1.96 grew approximately fourfold, reflecting both earnings power and the compounding benefit of a share repurchase program that has retired 24% of the float net of dilution since 2022. The results are particularly notable given that March introduced a meaningful macro disruption: travel advisories in Mexico and the escalation of conflict in the Middle East together cost the company roughly 2 points of bookings and room night growth for the full quarter, implying approximately 5 points of impact in March alone. Management noted that cancellations normalized in early April and booking activity reaccelerated through the month, though the Q2 guide conservatively embeds continued geopolitical and macroeconomic uncertainty.
Report generated on May 8, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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