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Live Nation (LYV) Gears Up for Q2 Earnings: What's in Store?
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Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report second-quarter 2024 results on Jul 30, after market close. In the last reported quarter, the company registered a negative earnings surprise of 165%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for Live Nation's second-quarter earnings per share (EPS) has declined to 99 cents from $1.05 in the past 30 days. The estimated figure indicates a 2.9% decline from the year-ago quarter’s figure of $1.02 per share.
Live Nation Entertainment, Inc. Price and EPS Surprise
For revenues, the consensus mark is pegged at approximately $6.05 billion, suggesting an increase of 7.5% from the year-ago quarter’s reported figure.
Factors to Note
LYV is anticipated to have experienced a year-over-year increase in second-quarter revenues, driven by heightened demand for live events, strong ticket sales and robust sponsorship growth. Also, an uptick in average spending per fan and a rise in ticket prices are likely to have aided the company’s performance in the to-be-reported quarter.
The implementation of the all-in pricing policy across its venues and festivals in the United States is likely to have supported Live Nation's second-quarter revenue growth. The policy displays total ticket costs upfront, providing greater transparency for fans and boosting revenues for artists.
For second-quarter 2024, our model predicts concerts and ticketing revenues to increase 7.8% and 9.4% year over year to $5 billion and $775.7 million, respectively. We expect sponsorship and advertising revenues to increase 11.5% year over year to $337.6 million.
It expects to witness improved margins in the Concert segments, attributable to revenues from beer sales, parking and other revenue streams, along with high ticket pricing.
However, increased labor-hiring costs, artist activation costs and other operational expenses are likely to have hurt LYV’s bottom line in the quarter to be reported. For the said quarter, our model estimates an 8.1% year-over-year rise in direct operating expenses to $4.5 billion.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Live Nation for the quarter to be reported. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen.
Earnings ESP: LYV has an Earnings ESP of +4.32%. 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, too, have the right combination of elements to beat estimates this time around.
Hilton Worldwide Holdings Inc. (HLT - Free Report) has an Earnings ESP of +0.58% and a Zacks Rank of 3 at present.
HLT is expected to register a 13.5% increase in earnings for the to-be-reported quarter. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 5%.
MGM Resorts International (MGM - Free Report) currently has an Earnings ESP of +15.35% and a Zacks Rank of 3.
MGM’s earnings for the to-be-reported quarter are expected to increase 11.9%. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 27.3%.
Skillz Inc. (SKLZ - Free Report) currently has an Earnings ESP of +6.84% and a Zacks Rank of 3.
SKLZ’s earnings for the to-be-reported quarter are expected to increase 16%. It reported better-than-expected earnings in two of the trailing four quarters and missed on one occasion, the average surprise being 1.6%.
Image: Bigstock
Live Nation (LYV) Gears Up for Q2 Earnings: What's in Store?
Live Nation Entertainment, Inc. (LYV - Free Report) is scheduled to report second-quarter 2024 results on Jul 30, after market close. In the last reported quarter, the company registered a negative earnings surprise of 165%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for Live Nation's second-quarter earnings per share (EPS) has declined to 99 cents from $1.05 in the past 30 days. The estimated figure indicates a 2.9% decline from the year-ago quarter’s figure of $1.02 per share.
Live Nation Entertainment, Inc. Price and EPS Surprise
Live Nation Entertainment, Inc. price-eps-surprise | Live Nation Entertainment, Inc. Quote
For revenues, the consensus mark is pegged at approximately $6.05 billion, suggesting an increase of 7.5% from the year-ago quarter’s reported figure.
Factors to Note
LYV is anticipated to have experienced a year-over-year increase in second-quarter revenues, driven by heightened demand for live events, strong ticket sales and robust sponsorship growth. Also, an uptick in average spending per fan and a rise in ticket prices are likely to have aided the company’s performance in the to-be-reported quarter.
The implementation of the all-in pricing policy across its venues and festivals in the United States is likely to have supported Live Nation's second-quarter revenue growth. The policy displays total ticket costs upfront, providing greater transparency for fans and boosting revenues for artists.
For second-quarter 2024, our model predicts concerts and ticketing revenues to increase 7.8% and 9.4% year over year to $5 billion and $775.7 million, respectively. We expect sponsorship and advertising revenues to increase 11.5% year over year to $337.6 million.
It expects to witness improved margins in the Concert segments, attributable to revenues from beer sales, parking and other revenue streams, along with high ticket pricing.
However, increased labor-hiring costs, artist activation costs and other operational expenses are likely to have hurt LYV’s bottom line in the quarter to be reported. For the said quarter, our model estimates an 8.1% year-over-year rise in direct operating expenses to $4.5 billion.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Live Nation for the quarter to be reported. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen.
Earnings ESP: LYV has an Earnings ESP of +4.32%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: LYV sports a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks With the Favorable Combination
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these, too, have the right combination of elements to beat estimates this time around.
Hilton Worldwide Holdings Inc. (HLT - Free Report) has an Earnings ESP of +0.58% and a Zacks Rank of 3 at present.
HLT is expected to register a 13.5% increase in earnings for the to-be-reported quarter. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 5%.
MGM Resorts International (MGM - Free Report) currently has an Earnings ESP of +15.35% and a Zacks Rank of 3.
MGM’s earnings for the to-be-reported quarter are expected to increase 11.9%. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 27.3%.
Skillz Inc. (SKLZ - Free Report) currently has an Earnings ESP of +6.84% and a Zacks Rank of 3.
SKLZ’s earnings for the to-be-reported quarter are expected to increase 16%. It reported better-than-expected earnings in two of the trailing four quarters and missed on one occasion, the average surprise being 1.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.