European Travel Company Tui Sees Soaring Stock Price After Reporting 11% Revenue Growth in Full-Year Results
Tui, a German travel company, saw its stock price surge on Wednesday on news of its full-year results and profit forecast. In its full-year results, Tui reported that revenue rose 11% to 8.5 billion euros. Its underlying earnings before interest and taxes soared 139%. Looking ahead, Tui forecast that EBIT will increase by at least 25% year-over-year in 2024, which analysts saw as a positive sign for the international travel industry from Europe. Analysts were upbeat on the 2024 profit guidance and saw it implying further upside to consensus estimates. Current booking trends for winter 2023/2024 and summer 2024 were also supporting factors in the outlook.
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00:00 Benzinga and here's what's on the block. TUI, which is a German travel company, saw its stock
00:05 price surge on Wednesday on news of its full-year results and forecast of profits. In its full-year
00:10 results, TUI reported revenue rose from 11% to 8.5 billion euros. Its underlying earnings before
00:17 interest and taxes soared 139%. Looking ahead, TUI forecasts that EBIT will increase by at least 25%
00:25 year-over-year in 2024, while INLS saw a positive sign for the international travel industry across
00:31 Europe. INLS were upbeat on the 2024 profit guidance and saw it implying further upside
00:36 to the estimates. Current booking trends for winter 2023 and 2024 along with summer 2024
00:42 were also supporting factors in the outlook. For all things money visit Benzinga.com