CLAIM #10677 · Booking Holdings Inc (BKNG) · 2023Q1 earnings call · May 4, 2023 · due May 4, 2027
“And then we said that over the next 4 years, we expect to be able to complete the full authorization.”
Glenn Fogel · CEO
How to check this claim
Look at: Cumulative share repurchases under the $24 billion buyback authorization (previous $4M remaining plus new $20B)
It came true if: Cumulative repurchases under this authorization >= $24 billion
Where: Company-disclosed share repurchase totals (10-K/10-Q cash flow statement or buyback disclosures)
In context
“can we invest that money appropriately in the company, build out services in ways that we can make the way we work with our partners and our traveller customers in a better way to help build this franchise. That's the first thing absolutely important. And after that, we say, well, we can't build it organically. Is there something outside the company, we think that could add value make things better for both, again, our traveller customers and our partner customers. And the last thing is, okay, if we don't see a good use of that, then we should be somehow returning that capital to our shareholders which is what we laid out the last quarter, we laid out our buyback program, where we had $4 million left in the previous authorization, $20 billion in the next one, that made $24 billion total. And then we said that over the next 4 years, we expect to be able to complete the full authorization. And I believe we've given out some numbers about our buyback now. And I am thrilled with the way we're doing this. But for long term, 5 years, this is what we laid out. Things can always change but that's the way we've laid it out. And I'll leave it up to David, in terms of ROIs, anything you're seeing differently about the summer, I have myself, maybe you see something. David Goulden: Yes. Justin, I think it's hard to predict what's going to happen to ROIs that far out. So what I will say is that you can see that we saw some encouraging ROI trends compared to expectations in the first quarter. Those were a little bit related to what happened to our bookings profile. So as we mentioned, we got a lot of extra bookings for the summer in the first quarter, more than we would have expected. T”
Verify independently
SEC filings for BKNG ↗ · Claim quote is verbatim from the 2023Q1 earnings call.