- Live Nation’s 3Q revenue beat estimates, reaching $8.15 billion, a 32% increase year-over-year (y/y).
- The company’s concert revenue also surpassed expectations, coming in at $6.97 billion, a 32% increase y/y.
- Ticketing revenue was $832.6 million, a 57% increase y/y.
- However, Sponsorship and Advertising revenue slightly missed estimates, reaching $366.8 million, a 6.9% increase y/y.
- The company’s EPS was $1.78, up from $1.39 y/y.
- The adjusted operating income was $836.1 million, a 35% increase y/y.
- The estimated number of fee-bearing tickets reached 89.30 million, a 22% increase y/y.
- The company’s adjusted free cash flow was $667.2 million, a 26% increase y/y.
- Live Nation expects a 39% y/y increase in 2024 event-related deferred revenue, amounting to $2.6 billion.
- The company is on track to manage over 600 million tickets this year, including well over 300 million fee-bearing tickets.
- Live Nation cites the acceleration of structural growth in the live entertainment industry as the reason for its strongest quarter ever and expects the industry to continue growing in 2024.
A look at Live Nation Entertainment, Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 0 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Live Nation Entertainment, Inc. is a major player in the live entertainment industry. Its strong growth and momentum scores indicate that it has been successful in providing quality ticketing services for a variety of events, from professional sports to performing arts venues. It has also built a strong reputation for providing customers with access to live concerts and other events.
The company has a solid long-term outlook, with a resilient business model and a commitment to providing value to customers. Its score of 1 on dividend delivery shows that it is committed to delivering a return to its shareholders over the long term. With its strong growth and momentum scores, Live Nation Entertainment, Inc. is well-positioned to continue to be a leader in the live entertainment industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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