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Live Nation (LYV) Gears Up for Q3 Earnings: What's in Store?
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Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report third-quarter 2022 results on Nov 3, after market close. In the last reported quarter, the company delivered a negative earnings surprise of 1.1%.
Q3 Estimates
The Zacks Consensus Estimate for the third-quarter earnings is pegged at $1.09 per share compared with 19 cents reported in the prior-year quarter. The consensus mark for revenues stands at $4.91 billion, up 81.9% year over year.
Factors to Note
Live Nation Entertainment’s results in the quarter are likely to be aided by an increase in demand for live events, a rise in average per-fan spending and increases in ticket pricing. We expect concerts and ticketing revenues to be $4,024.3 million and $588.2 million, up 87% and 57.2% year over year, respectively. We expect sponsorship & advertising revenues to be $237 million, up 35.9% year over year.
During the second-quarter 2022 conference call, the company said that it has already sold more than 100 million tickets for shows in the second half of 2022 and 2023. For the remainder of 2022, confirmed show bookings are up more than 30%, owing to double-digit increases in every market and across all venue types. In third-quarter 2022, the company is likely to have benefited from robust attendance.
However, the company has been witnessing cost increases due to a rise in labor costs, supply chain challenges and inflation. It anticipates variable costs per fan, excluding talent, to increase 7% in 2022. An increase in costs is likely to have hurt the company’s bottom line.
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 0.00%.
Zacks Rank: The company carries a Zacks Rank #2. 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 this season:
Crocs, Inc. (CROX - Free Report) has an Earnings ESP of +1.48% and a Zacks Rank #1.
Shares of Crocs have declined 57.2% in the past year. CROX’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 21.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCI Hospitality Holdings, Inc. (RICK - Free Report) has an Earnings ESP of +4.15% and a Zacks Rank #2.
Shares of RCI Hospitality have improved 21% in the past year. RICK’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%.
Cedar Fair, L.P. (FUN - Free Report) has an Earnings ESP of +2.38% and a Zacks Rank #3.
Shares of Cedar Fair have declined 12.8% in the past year. FUN’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 5.3%.
Image: Bigstock
Live Nation (LYV) Gears Up for Q3 Earnings: What's in Store?
Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report third-quarter 2022 results on Nov 3, after market close. In the last reported quarter, the company delivered a negative earnings surprise of 1.1%.
Q3 Estimates
The Zacks Consensus Estimate for the third-quarter earnings is pegged at $1.09 per share compared with 19 cents reported in the prior-year quarter. The consensus mark for revenues stands at $4.91 billion, up 81.9% year over year.
Factors to Note
Live Nation Entertainment’s results in the quarter are likely to be aided by an increase in demand for live events, a rise in average per-fan spending and increases in ticket pricing. We expect concerts and ticketing revenues to be $4,024.3 million and $588.2 million, up 87% and 57.2% year over year, respectively. We expect sponsorship & advertising revenues to be $237 million, up 35.9% year over year.
During the second-quarter 2022 conference call, the company said that it has already sold more than 100 million tickets for shows in the second half of 2022 and 2023. For the remainder of 2022, confirmed show bookings are up more than 30%, owing to double-digit increases in every market and across all venue types. In third-quarter 2022, the company is likely to have benefited from robust attendance.
However, the company has been witnessing cost increases due to a rise in labor costs, supply chain challenges and inflation. It anticipates variable costs per fan, excluding talent, to increase 7% in 2022. An increase in costs is likely to have hurt the company’s bottom line.
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 0.00%.
Zacks Rank: The company carries a Zacks Rank #2. 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 this season:
Crocs, Inc. (CROX - Free Report) has an Earnings ESP of +1.48% and a Zacks Rank #1.
Shares of Crocs have declined 57.2% in the past year. CROX’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 21.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCI Hospitality Holdings, Inc. (RICK - Free Report) has an Earnings ESP of +4.15% and a Zacks Rank #2.
Shares of RCI Hospitality have improved 21% in the past year. RICK’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%.
Cedar Fair, L.P. (FUN - Free Report) has an Earnings ESP of +2.38% and a Zacks Rank #3.
Shares of Cedar Fair have declined 12.8% in the past year. FUN’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 5.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.