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Live Nation (LYV) Gears Up for Q1 Earnings: What's in Store?
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Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report first-quarter 2023 results on May 4, after market close. In the last reported quarter, the company delivered a negative earnings surprise of 13.5%.
Q1 Estimates
The Zacks Consensus Estimate is pegged at a loss of 47 cents per share compared with a loss of 39 cents reported in the prior-year quarter. The consensus mark for revenues is pegged at $2.23 billion, up 23.6% year over year.
Factors to Note
Live Nation Entertainment’s results in the quarter under review are likely to gain from an increase in demand for live events, a rise in average per-fan spending and increases in ticket pricing. Strength in the sponsorship business is also likely to have aided LYV’s performance in the to-be-reported quarter.
LYV is highly optimistic about its growth opportunities in 2023. For shows in 2023, it is witnessing even stronger ticket sales.
For first-quarter 2023, our model predicts concerts, and sponsorship and advertising revenues to increase 27.6% and 27.8% year over year to $1,540.7 million and $147.8 million, respectively. On the other hand, we expect ticketing revenues to decline 16.8% year over year to $399.5 million.
Higher labor costs, supply-chain challenges and costs related to the reopening of international markets are likely to have hurt margin. The company is cautious of cost overruns related to the development and expansion of live music venues. An increase in costs is likely to affect LYV’s bottom line. We expect adjusted operating margin of 10.9% compared with 11.6% reported in the prior year quarter.
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 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: LYV has an Earnings ESP of +22.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: LYV carries a Zacks Rank #4 (Sell).
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.
Shares of Wynn Resorts have gained 58% in the past year. WYNN’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 0.6%.
Caesars Entertainment, Inc. (CZR - Free Report) has an Earnings ESP of +84.62% and a Zacks Rank #3.
Shares of Caesars Entertainment have declined 38.6% in the past year. CZR’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 16.2%.
Playa Hotels & Resorts N.V. (PLYA - Free Report) has an Earnings ESP of +40.22% and currently sports a Zacks Rank #1.
Shares of Playa Hotels & Resorts have increased 0.8% in the past year. PLYA’s earnings beat estimates in each of the trailing four quarters, the average surprise being 419.4%.
Image: Bigstock
Live Nation (LYV) Gears Up for Q1 Earnings: What's in Store?
Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report first-quarter 2023 results on May 4, after market close. In the last reported quarter, the company delivered a negative earnings surprise of 13.5%.
Q1 Estimates
The Zacks Consensus Estimate is pegged at a loss of 47 cents per share compared with a loss of 39 cents reported in the prior-year quarter. The consensus mark for revenues is pegged at $2.23 billion, up 23.6% year over year.
Factors to Note
Live Nation Entertainment’s results in the quarter under review are likely to gain from an increase in demand for live events, a rise in average per-fan spending and increases in ticket pricing. Strength in the sponsorship business is also likely to have aided LYV’s performance in the to-be-reported quarter.
LYV is highly optimistic about its growth opportunities in 2023. For shows in 2023, it is witnessing even stronger ticket sales.
For first-quarter 2023, our model predicts concerts, and sponsorship and advertising revenues to increase 27.6% and 27.8% year over year to $1,540.7 million and $147.8 million, respectively. On the other hand, we expect ticketing revenues to decline 16.8% year over year to $399.5 million.
Higher labor costs, supply-chain challenges and costs related to the reopening of international markets are likely to have hurt margin. The company is cautious of cost overruns related to the development and expansion of live music venues. An increase in costs is likely to affect LYV’s bottom line. We expect adjusted operating margin of 10.9% compared with 11.6% reported in the prior year quarter.
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 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: LYV has an Earnings ESP of +22.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: LYV carries a Zacks Rank #4 (Sell).
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.
Wynn Resorts, Limited (WYNN - Free Report) has an Earnings ESP of +111.38% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Wynn Resorts have gained 58% in the past year. WYNN’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 0.6%.
Caesars Entertainment, Inc. (CZR - Free Report) has an Earnings ESP of +84.62% and a Zacks Rank #3.
Shares of Caesars Entertainment have declined 38.6% in the past year. CZR’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 16.2%.
Playa Hotels & Resorts N.V. (PLYA - Free Report) has an Earnings ESP of +40.22% and currently sports a Zacks Rank #1.
Shares of Playa Hotels & Resorts have increased 0.8% in the past year. PLYA’s earnings beat estimates in each of the trailing four quarters, the average surprise being 419.4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.