Live events and entertainment company Live Nation (NYSE: LYV) will be reporting earnings this Thursday after market hours. Here’s what to look for.
Live Nation beat analysts’ revenue expectations last quarter, reporting revenues of $3.79 billion, up 12.1% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Live Nation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Live Nation’s revenue to grow 7.8% year on year, slowing from the 16.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Live Nation has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Live Nation’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. AMC Entertainment delivered year-on-year revenue growth of 14.2%, beating analysts’ expectations by 8.7%, and Delta reported revenues up 18.7%, topping estimates by 3.9%. AMC Entertainment traded up 13.4% following the results while Delta was down 3.2%.
Read our full analysis of AMC Entertainment’s results here and Delta’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Live Nation’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $192.50 (compared to the current share price of $180.93).
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