Liberty TripAdvisor Holdings, Inc. (LTRPB) Bundle
A Brief History of Liberty TripAdvisor Holdings, Inc.
Liberty TripAdvisor Holdings, Inc. (TripCo) operates primarily through its controlling interest in Tripadvisor, Inc. As of September 30, 2024, TripCo holds approximately 21% economic interest and 57% voting interest in Tripadvisor.
Financial Overview
As of September 30, 2024, TripCo reported total assets of $3.743 billion, up from $3.560 billion at the end of 2023. The company's total liabilities stood at $2.449 billion, compared to $2.328 billion in the previous year.
| Financial Metrics | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Assets | $3.743 billion | $3.560 billion |
| Total Liabilities | $2.449 billion | $2.328 billion |
| Total Stockholders' Equity | $1.294 billion | $1.232 billion |
Debt Structure
As of September 30, 2024, TripCo's total consolidated debt was $1.200 billion. This includes $309 million from Exchangeable Senior Debentures due in 2051, $500 million from a Term Loan B Facility due in 2031, and $345 million from Convertible Senior Notes due in 2026.
| Debt Type | Amount (in millions) | Due Date |
|---|---|---|
| Exchangeable Senior Debentures | $309 | 2051 |
| Term Loan B Facility | $500 | 2031 |
| Convertible Senior Notes | $345 | 2026 |
Stock Performance
As of September 30, 2024, the weighted average exercise price (WAEP) of Tripadvisor stock options was $35.63, with 2.761 million options outstanding. The company’s common stock was trading at approximately $25.94 per share.
Recent Financial Performance
For the three months ended September 30, 2024, TripCo reported total revenue of $532 million, slightly down from $533 million in the prior year. The operating income for the same period was $67 million, compared to a loss of $964 million in the previous year. The company recorded a net loss of $13 million for the quarter.
| Performance Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Revenue | $532 million | $533 million |
| Operating Income (Loss) | $67 million | $(964) million |
| Net Earnings (Loss) | $(13) million | $(255) million |
Stockholder Equity
As of September 30, 2024, TripCo's total stockholders’ equity was reported at $1.294 billion, reflecting an increase from $1.232 billion at the end of 2023. The company has shown a commitment to managing its equity through stock buybacks and other measures.
| Equity Components | Amount (in millions) | September 30, 2024 |
|---|---|---|
| Series A Common Stock | $1 | 73,084,484 shares |
| Series B Common Stock | $0 | 4,232,532 shares |
| Additional Paid-in Capital | $304 | |
| Retained Earnings (Deficit) | $(737) | |
| Total Equity | $1,294 |
A Who Owns Liberty TripAdvisor Holdings, Inc. (LTRPB)
Ownership Structure
As of September 30, 2024, Liberty TripAdvisor Holdings, Inc. (LTRPB) has a complex ownership structure primarily influenced by Liberty Media Corporation. Liberty Media controls approximately 57% of the voting interest in Tripadvisor, Inc. (TRIP), which is a significant aspect of LTRPB's operations.
Major Shareholders
| Shareholder | Ownership Type | Ownership Percentage |
|---|---|---|
| Liberty Media Corporation | Voting Control | 57% |
| Public Investors | Non-controlling Interest | 43% |
Stock Performance
As of September 30, 2024, the stock price of Liberty TripAdvisor Holdings, Inc. (LTRPB) was approximately $25.94 per share, reflecting a fluctuation in its market valuation influenced by various external market conditions.
Financial Overview
For the nine months ended September 30, 2024, Liberty TripAdvisor reported net losses of $10 million, contrasting significantly with net losses of $1,023 million for the same period in 2023. The company’s total revenue for the nine months was $1,424 million, compared to $1,398 million in 2023.
Recent Developments
Liberty TripAdvisor Holdings has been involved in strategic financial maneuvers. As of September 30, 2024, the company had total consolidated debt amounting to $1,200 million and total assets of approximately $3,743 million.
Cash and Cash Equivalents
Liberty TripAdvisor reported total cash and cash equivalents of $1,127 million as of September 30, 2024. This liquidity position plays a critical role in the company's operational flexibility and investment strategy moving forward.
Preferred Stock and Debt Instruments
As of September 30, 2024, the Series A Preferred Stock liability was recorded at $265 million. Additionally, the company has issued Exchangeable Senior Debentures due 2051, amounting to $309 million.
Non-controlling Interests
Liberty TripAdvisor Holdings also has significant non-controlling interests in its subsidiaries, which amounted to $1,726 million as of September 30, 2024. This indicates a substantial portion of the equity held by other investors in the company’s subsidiaries, further reflecting the complex ownership structure of Liberty TripAdvisor.
Summary of Key Financial Metrics
| Metric | Value |
|---|---|
| Net Loss (9 months 2024) | $10 million |
| Net Loss (9 months 2023) | $1,023 million |
| Total Revenue (9 months 2024) | $1,424 million |
| Total Assets (as of Sept 30, 2024) | $3,743 million |
| Total Cash and Cash Equivalents | $1,127 million |
| Series A Preferred Stock Liability | $265 million |
| Exchangeable Senior Debentures | $309 million |
| Non-controlling Interests | $1,726 million |
Liberty TripAdvisor Holdings, Inc. (LTRPB) Mission Statement
Mission Overview
Liberty TripAdvisor Holdings, Inc. aims to leverage its unique position within the travel and tourism sector to provide comprehensive travel solutions that enhance customer experiences. The company focuses on integrating innovative technology with user-friendly platforms to facilitate travel planning and booking.
Core Values
- Innovation: Continuously improving and evolving technology to meet customer needs.
- Customer-Centricity: Prioritizing customer satisfaction through tailored services and support.
- Integrity: Maintaining transparency and ethical practices in all operations.
- Sustainability: Committing to environmentally responsible practices within the travel industry.
Financial Performance Metrics
As of September 30, 2024, Liberty TripAdvisor Holdings reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Total Revenue | $532 million | $533 million | $1.424 billion | $1.398 billion |
| Operating Income (Loss) | $67 million | ($964 million) | $82 million | ($941 million) |
| Net Earnings (Loss) | $35 million | ($964 million) | ($10 million) | ($1.023 billion) |
| Cash and Cash Equivalents | $1.127 billion | $1.150 billion | $1.127 billion | $1.150 billion |
| Debt | $1.200 billion | $1.180 billion | $1.200 billion | $1.180 billion |
Strategic Goals
Liberty TripAdvisor Holdings is committed to achieving the following strategic goals:
- Enhancing user engagement through innovative technology and personalized services.
- Expanding market presence in key geographical areas through strategic partnerships.
- Implementing cost-effective operational strategies to improve profitability.
- Investing in sustainable travel initiatives to promote environmental responsibility.
Recent Developments
As of September 30, 2024, Liberty TripAdvisor Holdings has made significant advancements in its operations:
- Initiated a share repurchase program with $200 million remaining available for common stock buybacks.
- Amended its credit facility to include a new $500 million term loan B facility maturing in July 2031.
- Reported a significant increase in cash flow from operations, amounting to $139 million for the nine months ended September 30, 2024, compared to $248 million in the prior year.
Conclusion on Mission Statement
Liberty TripAdvisor Holdings, Inc. continues to align its mission with its financial and operational strategies to foster growth and enhance shareholder value.
How Liberty TripAdvisor Holdings, Inc. (LTRPB) Works
Financial Overview
As of September 30, 2024, Liberty TripAdvisor Holdings, Inc. reported total revenue of $532 million for the third quarter, slightly down from $533 million in the same quarter of 2023. For the nine months ended September 30, 2024, revenue reached $1.424 billion, compared to $1.398 billion for the same period in 2023.
Income Statement Highlights
The company experienced a net income of $35 million in the third quarter of 2024, a significant improvement from a net loss of $964 million in the third quarter of 2023. For the nine months ended September 30, 2024, the net loss was $10 million, compared to a loss of $1.023 billion in 2023.
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Total Revenue | $532 million | $533 million | $1.424 billion | $1.398 billion |
| Net Earnings (Loss) | $35 million | $(964 million) | $(10 million) | $(1.023 billion) |
Revenue Breakdown
The revenue from the Brand Tripadvisor segment saw a decrease of $35 million in Q3 2024 compared to Q3 2023, totaling $255 million. The nine-month revenue for this segment decreased by $68 million to $745 million in 2024.
| Segment | Q3 2024 Revenue | Q3 2023 Revenue | 9M 2024 Revenue | 9M 2023 Revenue |
|---|---|---|---|---|
| Brand Tripadvisor | $255 million | $290 million | $745 million | $813 million |
| Viator | $270 million | $245 million | $655 million | $576 million |
| TheFork | $49 million | $42 million | $133 million | $115 million |
Operating Costs
Total operating costs for Q3 2024 were $465 million, down from $1.497 billion in Q3 2023, reflecting a significant reduction in expenses, particularly in stock-based compensation which amounted to $31 million for Q3 2024, compared to $25 million in Q3 2023.
| Cost Type | Q3 2024 | Q3 2023 |
|---|---|---|
| Operating Expense | $120 million | $109 million |
| Selling, General and Administrative Expense | $325 million | $324 million |
| Depreciation and Amortization | $21 million | $21 million |
| Impairment of Goodwill and Intangible Assets | $0 | $1.025 billion |
Liquidity Position
As of September 30, 2024, Liberty TripAdvisor Holdings had cash and cash equivalents totaling $1.127 billion, a decrease from $1.150 billion at the end of Q3 2023. The company’s liquidity sources included cash balances, proceeds from asset sales, and potential debt and equity issuances.
Debt Obligations
The total consolidated debt for Liberty TripAdvisor Holdings stood at $1.200 billion as of September 30, 2024, which includes $500 million from the Term Loan B Facility due in 2031 and $309 million attributable to Exchangeable Senior Debentures due in 2051.
| Debt Type | Amount (in millions) |
|---|---|
| Term Loan B Facility | $500 |
| Exchangeable Senior Debentures | $309 |
| Convertible Senior Notes | $345 |
Stock Performance
The stock price of Liberty TripAdvisor Holdings (LTRPB) was approximately $4.23 per share as of September 30, 2024. The company’s total outstanding shares include 4,232,532 shares of Series B common stock.
Equity and Market Capitalization
The total stockholders' equity for Liberty TripAdvisor Holdings was reported at $1.294 billion as of September 30, 2024, with noncontrolling interests in subsidiaries amounting to $1.726 billion.
| Equity Component | Amount (in millions) |
|---|---|
| Common Stock | $1 |
| Additional Paid-in Capital | $304 |
| Accumulated Other Comprehensive Earnings (Loss) | $0 |
| Retained Earnings (Deficit) | $(737) |
How Liberty TripAdvisor Holdings, Inc. (LTRPB) Makes Money
Revenue Streams
Liberty TripAdvisor Holdings, Inc. primarily generates revenue through various segments, notably through its brands Tripadvisor, Viator, and TheFork. As of September 30, 2024, the detailed revenue breakdown is as follows:
| Segment | Three Months Ended September 30, 2024 (in millions) | Three Months Ended September 30, 2023 (in millions) | Nine Months Ended September 30, 2024 (in millions) | Nine Months Ended September 30, 2023 (in millions) |
|---|---|---|---|---|
| Brand Tripadvisor | $255 | $290 | $745 | $813 |
| Viator | $270 | $245 | $655 | $576 |
| TheFork | $49 | $42 | $133 | $115 |
| Intersegment Eliminations | ($42) | ($44) | ($109) | ($106) |
| Total Revenue | $532 | $533 | $1,424 | $1,398 |
Brand Tripadvisor Revenue Breakdown
Brand Tripadvisor's revenue is derived from several key areas:
- Tripadvisor-branded hotels
- Media and advertising
- Experiences and dining
- Other revenue streams
The revenue from Tripadvisor-branded hotels decreased by $30 million and $64 million for the three and nine months ended September 30, 2024, respectively, compared to the same periods in 2023. This decline was primarily due to a decrease in hotel meta revenue as the company transitions to a self-service model.
Operating Income and Adjusted OIBDA
For the three months ended September 30, 2024, Liberty TripAdvisor reported an operating income of $67 million, compared to a loss of $964 million in the same period of 2023. Adjusted OIBDA was reported at $119 million for the three months ended September 30, 2024, down from $125 million for the same period in 2023. The breakdown is as follows:
| Segment | Adjusted OIBDA (Three Months Ended September 30, 2024, in millions) | Adjusted OIBDA (Three Months Ended September 30, 2023, in millions) |
|---|---|---|
| Brand Tripadvisor | $87 | $111 |
| Viator | $30 | $17 |
| TheFork | $5 | ($1) |
| Corporate and Eliminations | ($3) | ($2) |
Operating Expenses
Operating expenses for the three months ended September 30, 2024, amounted to $465 million, which includes:
- Operating expense: $120 million
- Selling, general and administrative expense: $307 million
- Depreciation and amortization: $21 million
- Impairment of goodwill and intangible assets: $0 million
Net Earnings
Liberty TripAdvisor reported net earnings of $35 million for the three months ended September 30, 2024, a significant recovery from the net loss of $964 million reported for the same period in 2023. For the nine months ended September 30, 2024, the net loss stood at $10 million compared to a loss of $1,023 million in the prior year.
Financial Position
As of September 30, 2024, Liberty TripAdvisor had total assets of approximately $3.743 billion and total liabilities of $2.449 billion, leading to stockholders' equity of $1.294 billion. The company also held cash and cash equivalents of $1.127 billion, with significant portions attributed to its subsidiary Tripadvisor.
Debt Profile
Outstanding debt was $1.200 billion as of September 30, 2024, with the following breakdown:
| Debt Instrument | Amount (in millions) |
|---|---|
| TripCo Exchangeable Senior Debentures due 2051 | $309 |
| TripCo Variable Prepaid Forward | $54 |
| Term Loan B Facility due 2031 | $500 |
| Convertible Senior Notes due 2026 | $345 |
| Total Consolidated TripCo Debt | $1,200 |
The company continues to focus on strategic investments to enhance its revenue-generating capabilities while managing its operating expenses effectively.
Liberty TripAdvisor Holdings, Inc. (LTRPB) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Liberty TripAdvisor Holdings, Inc. (LTRPB) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Liberty TripAdvisor Holdings, Inc. (LTRPB)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Liberty TripAdvisor Holdings, Inc. (LTRPB)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.