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Factors Setting the Tone for Live Nation's (LYV) Q4 Earnings
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Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 23, 2023, after market close. In the last reported quarter, the company delivered an earnings surprise of 28.7%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for the fourth-quarter bottom line is pegged at a loss of 97 cents per share, indicating a deterioration of 1% from a loss of 96 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at approximately $3,399 million, suggesting an increase of 25.8% from the year-ago quarter’s reported figure.
Live Nation Entertainment, Inc. Price and EPS Surprise
Let's look at how things have shaped up in the quarter.
Factors at Play
Live Nation’s fourth quarter performance is likely to have benefitted from increased demand for global live events, solid onsite spending and Ticketmaster services. This and strength in the sponsorship business are likely to have aided the company’s performance in the to-be-reported quarter.
During the previous quarter, the company reported double-digit attendance growth across all venue types, including clubs, theaters, amphitheaters, arenas, stadiums and festivals. During the quarter, fan attendance at the Venue Nation division was up 14% from 2019 levels. Also, it stated benefits from theater live events platforms (in terms of attracting new brands and expanding current partnerships) and strategic pricing. Given the strength in the supply and demand dynamic (with artists and fans) coupled with an emphasis on elevating hospitality operations, adding more venues (for boosting concert business) and platform integrations (with online partnerships), the momentum is likely to have continued in the to-be-reported quarter.
The Zacks Consensus Estimate for fourth-quarter revenues from Ticketing, Concerts and Sponsorships and Advertisements are pegged at $521 million, $2,689 million and $197 million, indicating a rise of 6.8%, 31.6% and 15.9%, respectively, from the prior-year quarter’s figure.
However, supply chain disruptions and delays in construction projects are likely to have affected the company’s performance in the fourth quarter. Increased costs related to artist fees, event production, show-related marketing and advertising expenses are likely to have impacted margins in the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat Live Nation this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. But that's not the case here.
Earnings ESP: Live Nation has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other 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.
OneSpaWorld Holdings Limited (OSW - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank #1.
Shares of OneSpaWorld have increased 12.3% in the past year. OSW’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 84.2%.
Monarch Casino & Resort, Inc. (MCRI - Free Report) has an Earnings ESP of +4.12% and a Zacks Rank #3.
Shares of Monarch Casino have increased 7.8% in the past year. MCRI’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 3.7%.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +2.53% and a Zacks Rank #3.
Shares of Planet Fitness have declined 15% in the past year. PLNT’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 6.6%.
Image: Bigstock
Factors Setting the Tone for Live Nation's (LYV) Q4 Earnings
Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 23, 2023, after market close. In the last reported quarter, the company delivered an earnings surprise of 28.7%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for the fourth-quarter bottom line is pegged at a loss of 97 cents per share, indicating a deterioration of 1% from a loss of 96 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at approximately $3,399 million, suggesting an increase of 25.8% from the year-ago quarter’s reported figure.
Live Nation Entertainment, Inc. Price and EPS Surprise
Live Nation Entertainment, Inc. price-eps-surprise | Live Nation Entertainment, Inc. Quote
Let's look at how things have shaped up in the quarter.
Factors at Play
Live Nation’s fourth quarter performance is likely to have benefitted from increased demand for global live events, solid onsite spending and Ticketmaster services. This and strength in the sponsorship business are likely to have aided the company’s performance in the to-be-reported quarter.
During the previous quarter, the company reported double-digit attendance growth across all venue types, including clubs, theaters, amphitheaters, arenas, stadiums and festivals. During the quarter, fan attendance at the Venue Nation division was up 14% from 2019 levels. Also, it stated benefits from theater live events platforms (in terms of attracting new brands and expanding current partnerships) and strategic pricing. Given the strength in the supply and demand dynamic (with artists and fans) coupled with an emphasis on elevating hospitality operations, adding more venues (for boosting concert business) and platform integrations (with online partnerships), the momentum is likely to have continued in the to-be-reported quarter.
The Zacks Consensus Estimate for fourth-quarter revenues from Ticketing, Concerts and Sponsorships and Advertisements are pegged at $521 million, $2,689 million and $197 million, indicating a rise of 6.8%, 31.6% and 15.9%, respectively, from the prior-year quarter’s figure.
However, supply chain disruptions and delays in construction projects are likely to have affected the company’s performance in the fourth quarter. Increased costs related to artist fees, event production, show-related marketing and advertising expenses are likely to have impacted margins in the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat Live Nation this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. But that's not the case here.
Earnings ESP: Live Nation has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat Earnings Estimates
Here are some other 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.
OneSpaWorld Holdings Limited (OSW - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank #1.
Shares of OneSpaWorld have increased 12.3% in the past year. OSW’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 84.2%.
Monarch Casino & Resort, Inc. (MCRI - Free Report) has an Earnings ESP of +4.12% and a Zacks Rank #3.
Shares of Monarch Casino have increased 7.8% in the past year. MCRI’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 3.7%.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +2.53% and a Zacks Rank #3.
Shares of Planet Fitness have declined 15% in the past year. PLNT’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 6.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.