Live Nation Entertainment, Inc., incorporated in 2005 and formerly known as Live Nation, Inc. until its name change in January 2010, is ...
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Est. EPS $-0.34 · Revenue $28.09B · 12 analysts
Est. EPS $1.89 · Revenue $30.75B · 14 analysts
Est. EPS $2.11 · Revenue $11.79B · 5 analysts
Est. EPS $-1.84 · Revenue $8.54B · 8 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $25.2B | +8.8% | +102.1% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $496.0M | -44.7% | +175.7% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +23.0% | -8.6% | -26.9% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +5.9% | +65.4% | +167.5% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +2.0% | -49.2% | +137.4% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $305.0M | -71.0% | -93.6% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +1.2% | -73.3% | -96.8% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 4590.8% | -3.8% | +280.5% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.00x | +0.2% | -3.8% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $22.9B | +16.7% | +8.1% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -0.24 vs -0.21 | -16.5% | 1.05 vs 2.11 | -50.3% |
| Revenue Surprise | $25.2B vs $25.0B | +0.8% | $7.7B vs $11.8B | -35.0% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | Capo Brian | officer: Chief Accounting Officer | Common Stock | D | 2,900 | $184.00 |
| Aug 6, 2026 | Rapino Michael | director, officer: President & CEO | Common Stock | D | 16,251 | $181.77 |
| Aug 6, 2026 | Berchtold Joe | officer: President & CFO | Common Stock | D | 10,834 | $181.77 |
| Aug 6, 2026 | Hopmans John | officer: EVP, M&A and Strategic Finance | Common Stock | D | 3,970 | $181.77 |
| Aug 6, 2026 | Rowles Michael | officer: EVP & General Counsel | Common Stock | D | 1,084 | $181.77 |
Operator: Good afternoon. My name is Joe, and I will be your conference operator today. At this time, I would like to welcome everyone to Live Nation's First Quarter 2026 Earnings Call. I would now like to turn the call over to Ms. Amy Yong. Thank you, Ms. Yong, you may begin. Amy Yong: Good afternoon, and welcome to the Live Nation First Quarter 2026 Earnings Conference Call. Joining us today is our President and CEO, Michael Rapino, and our President and CFO, Joe Berchtold. We would like to remind you that this afternoon's call will contain certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ, including statements related to the company's anticipated financial performance, business prospects, new developments and similar matters. Please refer to Live Nation's SEC filings, including the risk factors and cautionary statements included in the company's most recent filings on Forms 10-K, 10-Q and 8-K for a description of risks and uncertainties that could impact the actual results. Live Nation will also refer to some non-GAAP measures on this call. In accordance with the SEC Regulation G, Live Nation has provided definitions of these measures and a full reconciliation to the most comparable GAAP measures in our earnings release. The release reconciliation can be found under the Financial Information section on Live Nation's website. With that, we will now take your questions. Operator? Operator: [Operator Instructions] And the first question comes from the line of Brandon Ross with LightShed Partners. Brandon Ross: First, you called out timing shifts in fan count due to venue mix in the release. Can you first explain why this year looks different than most? And then how that translates to AOI phasing throughout the year? Michael Rapino: Yes. Joe will take you through the... Joe Berchtold: Yes. Sure, Brandon. So really, what's going on with timing is because we have very strong growth globally in stadiums and strong growth in amphitheaters in the U.S. Those tend to skew more towards Q3 just from a calendar standpoint. Yes, most of the summer months are in Q3. So we were just trying to call out that as you think about the weighting of the different quarters this year, while we have strong growth across all of the pieces, that growth is really going to come in more strongly in Q3 than it would be in the previous years. That will transfer into stronger AOI for Q3. And then on the margin, also shaping up to have a very strong Q4. Brandon Ross: Okay. And then speaking of amphitheaters, I guess the big stumble last year was in amps really on the supply side, and it seems that you've made up or more than made up for that this year. How sure are you that the demand is there on the amps to fill that supply? The leading indicators seem great, but amps are more of real-time purchase. And every time there's elevated gas prices, there's a little more worry about amphitheater and there's been …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Michael Rapino | President, Chief Executive Officer & Director | USD 22,551,956 | Male | 1966 | Active |
Joe Berchtold | President & Chief Financial Officer | USD 6,180,053 | Male | 1965 | Active |
John Hopmans | Executive Vice President of Mergers & Acquisitions and Strategic Finance | USD 3,012,416 | Male | 1959 | Active |
Michael G. Rowles | Executive Vice President, General Counsel & Secretary | USD 2,782,871 | Male | 1966 | Active |
Brian J. Capo | Chief Accounting Officer & Senior Vice President | USD 712,500 | Male | 1967 | Active |
Kaitlyn Henrich | Senior Vice President of Corporate Affairs, Corporate Communications & Social Impact | — | Female | 1991 | Active |
Arthur Fogel | Chairman of Global Music Group & President of Global Touring Division | — | Male | 1954 | Active |
Russell Wallach | Global President of Sponsorship & Advertising Division | — | Male | 1966 | Active |
Amy Yong | Senior Vice President of Investor Relations | — | Female | — | Active |
Liz Dyer | Senior Vice President of Human Resources | — | Female | 1986 | Active |
Live Nation's earnings beat and resilient demand fueled its rally, but lofty valuation, estimate cuts, debt and legal risks cloud the outlook.
LYV enters a pivotal second half as record demand meets cost pressure, legal uncertainty and a fourth-quarter-heavy profit plan.
LYV's Q2 earnings and revenues beat estimates as record attendance, Ticketmaster growth and international demand drive year-over-year gains.
Live Nation Entertainment NYSE: LYV executives said demand for live music remained strong across markets and venue types during the company's second-quarter 2026 earnings call, with management raising its expectations for full-year fan growth, revenue, adjusted operating income and margin expansion.
Live Nation Entertainment, Inc. maintains a strong position in the global live music market. LYV's good topline growth continued across segments in Q2. Consumers are spending an increasing amount on experiences, helping LYV's outlook. A Concerts segment hiccup weighed on earnings growth in Q2, but likely temporarily. Venue investments weigh on earnings upfront.
