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Live Nation (LYV) to Report Q1 Earnings: What's in Store?
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Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report first-quarter 2022 results on May 5, after the closing bell. In the last reported quarter, the company delivered a positive earnings surprise of 74.6%.
Q1 Estimates
The Zacks Consensus Estimate for the first-quarter bottom line is pegged at a loss of 98 cents per share, compared with a loss of $1.44 reported in the year-ago quarter. The consensus mark for revenues stands at $1.92 billion, compared with $290.6 million reported in the prior-year quarter.
Factors to Note
Live Nation Entertainment's first-quarter top line is likely to reflect benefits from pent-up demand for live events and robust ticket sales. Increases in ticket pricing and average per fan spending bode well. Ticketmaster has added new clients, which has been favoring the company. Ticketmaster has been gaining from increased Live Nation concert ticket sales and additional sales from new clients.
For concert sales, the company sold 45 million tickets for shows this year through mid-February, up 45% from the same period's levels in 2019. The company has eight artists who have sold more than 500 thousand tickets for their tours this year, including Bad Bunny, Dua Lipa and Billie Eilish. Live Nation Entertainment is of the opinion that several of its artists like Dave Matthews, Luke Bryan, Maroon 5, Travis Scott, and Garth Brooks, among others, will have multi-year tours across the United States and Europe. This, in turn, will continue to drive the company's performance.
The Zacks Consensus Estimate for first-quarter concert revenues stands at $1,420 million, compared with $239 million in the prior-year quarter. The consensus mark for revenues from Ticketing, and Sponsorship and Advertising is pegged at $401 million and $79 million, up from the prior-year quarter figures of $28.3 million and $22.6 million, respectively. However, high costs are likely to have weighed on the company's to-be-reported quarter performance.
Live Nation Entertainment, Inc. Price and EPS Surprise
Our proven model doesn't conclusively predict an earnings beat for Live Nation Entertainment this time around. Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that's not the case here.
Earnings ESP: The company has an Earnings ESP of -21.43%.
Zacks Rank: The company carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Stocks Poised to Beat Earnings
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat:
Golden Entertainment, Inc. (GDEN - Free Report) has an Earnings ESP of +7.72% and a Zacks Rank #2.
Shares of Golden Entertainment have gained 43.3% in the past year. GDEN's earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 204.7%. You can see the complete list of today's Zacks #1 Rank stocks here.
Callaway Golf Company has an Earnings ESP of +7.22% and a Zacks Rank #3.
Shares of Callaway have declined 24.7% in the past year. ELY's earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 1,047.2%.
Penn National Gaming, Inc. (PENN - Free Report) has an Earnings ESP of +9.50% and a Zacks Rank #3.
Shares of Penn National have fallen 17.7% in the past three months. PENN's earnings surpassed the consensus mark in two of the trailing four quarters and missed twice, the average surprise being 6.9%.
Image: Bigstock
Live Nation (LYV) to Report Q1 Earnings: What's in Store?
Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report first-quarter 2022 results on May 5, after the closing bell. In the last reported quarter, the company delivered a positive earnings surprise of 74.6%.
Q1 Estimates
The Zacks Consensus Estimate for the first-quarter bottom line is pegged at a loss of 98 cents per share, compared with a loss of $1.44 reported in the year-ago quarter. The consensus mark for revenues stands at $1.92 billion, compared with $290.6 million reported in the prior-year quarter.
Factors to Note
Live Nation Entertainment's first-quarter top line is likely to reflect benefits from pent-up demand for live events and robust ticket sales. Increases in ticket pricing and average per fan spending bode well. Ticketmaster has added new clients, which has been favoring the company. Ticketmaster has been gaining from increased Live Nation concert ticket sales and additional sales from new clients.
For concert sales, the company sold 45 million tickets for shows this year through mid-February, up 45% from the same period's levels in 2019. The company has eight artists who have sold more than 500 thousand tickets for their tours this year, including Bad Bunny, Dua Lipa and Billie Eilish. Live Nation Entertainment is of the opinion that several of its artists like Dave Matthews, Luke Bryan, Maroon 5, Travis Scott, and Garth Brooks, among others, will have multi-year tours across the United States and Europe. This, in turn, will continue to drive the company's performance.
The Zacks Consensus Estimate for first-quarter concert revenues stands at $1,420 million, compared with $239 million in the prior-year quarter. The consensus mark for revenues from Ticketing, and Sponsorship and Advertising is pegged at $401 million and $79 million, up from the prior-year quarter figures of $28.3 million and $22.6 million, respectively. However, high costs are likely to have weighed on the company's to-be-reported quarter performance.
Live Nation Entertainment, Inc. Price and EPS Surprise
Live Nation Entertainment, Inc. price-eps-surprise | Live Nation Entertainment, Inc. Quote
What the Zacks Model Unveils
Our proven model doesn't conclusively predict an earnings beat for Live Nation Entertainment this time around. Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that's not the case here.
Earnings ESP: The company has an Earnings ESP of -21.43%.
Zacks Rank: The company carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Stocks Poised to Beat Earnings
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat:
Golden Entertainment, Inc. (GDEN - Free Report) has an Earnings ESP of +7.72% and a Zacks Rank #2.
Shares of Golden Entertainment have gained 43.3% in the past year. GDEN's earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 204.7%. You can see the complete list of today's Zacks #1 Rank stocks here.
Callaway Golf Company has an Earnings ESP of +7.22% and a Zacks Rank #3.
Shares of Callaway have declined 24.7% in the past year. ELY's earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 1,047.2%.
Penn National Gaming, Inc. (PENN - Free Report) has an Earnings ESP of +9.50% and a Zacks Rank #3.
Shares of Penn National have fallen 17.7% in the past three months. PENN's earnings surpassed the consensus mark in two of the trailing four quarters and missed twice, the average surprise being 6.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.