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Live Nation (LYV) Gears Up for Q4 Earnings: What's in Store?

Live Nation Entertainment, Inc. LYV is scheduled to report fourth-quarter 2023 results on Feb 22, after market close. In the last reported quarter, the company delivered an earnings surprise of 40.2%.

Q4 Estimates

The Zacks Consensus Estimate for the fourth-quarter loss is pegged at $1.08 per share. In the prior-year quarter, the company had reported an adjusted loss per share of $1.09. The consensus mark for revenues is pegged at $4.72 billion, suggesting a 10% year-over-year rise.

Factors to Note

Live Nation is anticipated to have experienced a year-over-year increase in fourth-quarter revenues, driven by heightened demand for live events, strong ticket sales and robust sponsorship growth. The company's performance in the upcoming quarter is expected to be supported by an uptick in average spending per fan and a rise in ticket prices.

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For fourth-quarter 2023, our model predicts concerts and ticketing revenues to increase 8% and 22.7% year over year to $3.67 billion and $799.1 million, respectively. However, we expect sponsorship and advertising revenues to decrease 4.1% year over year to $235.4 million.

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. It has been witnessing a rise in venue costs and service fees. For the quarter to be reported, our model estimates a 9.8% year-over-year rise in direct operating expenses to $3.61 billion.

Live Nation Entertainment, Inc. Price and EPS Surprise

 

Live Nation Entertainment, Inc. price-eps-surprise | Live Nation Entertainment, Inc. Quote

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Live Nation this time around. Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: LYV has an Earnings ESP of -14.36%.

Zacks Rank: LYV sports a Zacks Rank #3.

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.

Six Flags Entertainment Corporation SIX has an Earnings ESP of +21.85% and a Zacks Rank of 2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.

SIX’s earnings for the to-be-reported quarter are expected to decrease 15.6% 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, the negative surprise being 9.3%, on average.

Academy Sports and Outdoors, Inc. ASO has an Earnings ESP of +0.76% and a Zacks Rank of 3 at present.

ASO’s earnings for the to-be-reported quarter are expected to increase 13.2% from the prior-year reported level. It posted better-than-expected earnings in two of the trailing four quarters and missed on the other two occasions, the negative surprise being 4.7%, on average.

Carnival Corporation & plc CCL has an Earnings ESP of +1.59% and a Zacks Rank of 2 at present.

CCL’s earnings for the to-be-reported quarter are expected to increase 67.3% from the prior-year actual. It reported better-than-expected earnings in the trailing four quarters, the surprise being 19.2%, on average.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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Carnival Corporation (CCL) : Free Stock Analysis Report

Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report

Six Flags Entertainment Corporation New (SIX) : Free Stock Analysis Report

Academy Sports and Outdoors, Inc. (ASO) : Free Stock Analysis Report

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