Live Nation Entertainment, Inc. LYV is scheduled to report third-quarter 2024 results on Nov. 11, after market close. In the last reported quarter, the company delivered an earnings surprise of 5.1%.
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LYV’s Trend in Estimate Revision
The Zacks Consensus Estimate for Live Nation's third-quarter earnings per share (EPS) has declined to $1.58 from $1.63 in the past 30 days. The estimated figure indicates an 11.2% decline from the year-ago quarter’s figure of $1.78 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 $7.91 billion, implying a decrease of 3% from the year-ago quarter’s reported figure.
Factors to Shape Live Nation's Quarterly Results
Live Nation's third-quarter 2024 revenues and earnings are expected to have declined year over year due to a drop in stadium activity compared with the previous year. The International segment is likely to have witnessed fewer stadium shows and lower fan attendance, which might have weighed on its performance. For the third quarter, the company anticipates continued impact from the reduced stadium show count.
Meanwhile, 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 third-quarter 2024, our model predicts concerts and ticketing revenues to decrease 0.4% and 0.9% year over year to $6.9 billion and $824.9 million, respectively. We expect sponsorship and advertising revenues to decrease 0.4% year over year to $365.2 million.
However, robust global fan demand for live events, strong ticket sales and sponsorship growth are likely to have aided the company’s performance in the to-be-reported quarter. Also, an uptick in average spending per fan, a rise in ticket prices and the emphasis on sponsorship and advertising business are expected to have supported growth.
The company expects improved margins for the Concert segments, attributable to revenues from beer sales, parking and other revenue streams, along with high ticket pricing.
What the Zacks Model Unveils for LYV
Our proven model does not conclusively predict an earnings beat for Live Nation this time around. The company does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), to increase the odds of an earnings beat.
LYV’s Earnings ESP: LYV has an Earnings ESP of -2.58% at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
LYV’s Zacks Rank: The company currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks With Favorable Combination
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 beat estimates this time around.
Bowlero Corp. BOWL has an Earnings ESP of +10.20% and a Zacks Rank of 2 at present.
BOWL’s earnings for the to-be-reported quarter are expected to increase 1300% from the prior-year reported level. It posted better-than-expected earnings in one of the trailing four quarters and missed on the other three occasions, with the negative average surprise being 119.4%.
Norwegian Cruise Line Holdings Ltd. NCLH currently has an Earnings ESP of +3.28% and a Zacks Rank of 2.
NCLH’s earnings for the to-be-reported quarter are expected to increase 150% from the prior-year reported level. It posted better-than-expected earnings in three of the trailing four quarters and missed on the other occasion, with the average surprise being 4.2%.
OneSpaWorld Holdings Limited OSW has an Earnings ESP of +1.21% and flaunts a Zacks Rank of 1 at present.
OSW’s earnings for the to-be-reported quarter are expected to increase 75% from the prior-year reported level. It posted better-than-expected earnings in two of the trailing four quarters, met on one occasion and missed once, with an average negative surprise of 1.2%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
