Reservoir Media(DE:0RL0)
€8.95+0.05 (+1.70%)
DE:0RL0
Reservoir Media earnings date
€8.95
At close:+0.05 (+1.70%)
Reservoir Media (0RL0) Q2 2027 Earnings Report
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DE:0RL0 Q2 2027 EPS Results
- Actual EPS
- EUR 0.06
- Consensus EPS
- EUR 0.04
- Beat/Miss
- Beat by +EUR 0.03
- One Year Ago EPS
- EUR 0.03
DE:0RL0 Q2 2027 Revenue Results
- Actual Revenue
- EUR 44.69M
- Expected Revenue
- EUR 43.61M
- Beat/Miss
- Beat by +EUR 1.08M
- YoY Revenue Growth
- +9.85%
Earnings Announcement Details
- Quarter
- Q2 2027
- Date
- 11/04/2026
- Time
- Before Open
- Conference Call
- Wednesday, November 4, 2026
DE:0RL0 Upcoming Earnings
Reservoir Media's next earnings date is estimated for February 10, 2027, based on past reporting schedules.
Q2 2027 Earnings Call Audio
DE:0RL0 Q2 2027 Earnings Call
0:00 / 0:00
Q2 2027 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. Reservoir reported 10% revenue growth including acquisitions, 14% growth in both OIBDA and Adjusted EBITDA, higher net income and EPS, strong Recorded Music and Publishing performance, multiple strategic talent and catalog additions, and raised fiscal 2027 guidance. The main challenges were higher operating costs, increased interest expense and net debt, lower year-to-date operating cash flow, unchanged purchase-multiple expectations, and the ongoing review of acquisition proposals.
Company Guidance
Reservoir now expects fiscal 2027 revenue of $188 million-$192 million, which at the midpoint implies growth of 8% versus fiscal 2026, and Adjusted EBITDA of $77 million-$80 million, which signals growth of 7% over the prior year at the midpoint of that range; administration expenses are expected to remain at the Q2 run rate, which is probably a good proxy for the rest of the year, with the Q2 run rate expected to be pretty steady from there for Q3 and Q4, and there is an appropriate level of conservatism built into the guidance.
- Revenue Growth and Strong Quarterly PerformanceSecond-quarter revenue was $49.9 million, up 10% year-over-year including acquisitions and up 4% on an organic basis. Management described the quarter as another successful quarter and said the company continued its run of top-line growth.
- Music Publishing Revenue GrowthMusic Publishing revenue increased 8% year-over-year to $33.2 million, largely due to a 10% increase in digital revenue driven by additional catalog acquisitions and continued growth at music streaming services. Synchronization revenue increased 13%, driven by the timing of licenses.
- Recorded Music Segment AccelerationRecorded Music revenue increased 18% year-over-year to $15.4 million. Digital revenue rose 33%, supported by additional catalog acquisitions and continued growth at music streaming services, while robust neighboring-rights revenue was supported by catalog acquisitions and new affiliations.
- Improved Operating ProfitabilitySecond-quarter OIBDA increased 14% year-over-year to $20.7 million, and Adjusted EBITDA also increased 14% to $22.1 million. The increases were due to higher revenues, partially offset by increases in cost of revenue and administration expenses.
- Net Income and EPS ImprovementSecond-quarter net income was approximately $4.6 million, compared with $2.2 million in the prior-year quarter. Diluted earnings per share increased to $0.07 from $0.03, with the improvement in net income primarily driven by higher operating income and higher gains on fair value of swaps and foreign exchange.
- Raised and Narrowed Fiscal 2027 GuidanceFollowing strong first-half performance, management raised and narrowed full-year guidance to revenue of $188 million-$192 million, with the midpoint implying 8% growth versus fiscal 2026. Adjusted EBITDA guidance was raised to $77 million-$80 million, implying 7% growth over the prior year at the midpoint.
- Expanded Publishing Talent RosterReservoir announced future-works publishing deals with songwriter and producer Fred Ball and Grammy-nominated songwriter and producer Jake Sinclair. The company also signed The Snuts, Orla Gartland, Justin Dukes, Ava Liv Mabry, Riley Biederer, and The Reklaws, expanding its roster across genres, geographies, and career stages.
- Jake Sinclair Joint VentureReservoir formed a joint venture with Jake Sinclair to identify and develop emerging songwriters and artists, combining Sinclair's creative instincts with Reservoir's global platform and publishing expertise. Management said the joint venture involves future-works deals, is funded on an as-you-go basis, and does not involve significant dollar amounts.
- Billy Strayhorn Catalog AcquisitionReservoir acquired Billy Strayhorn's publishing catalog and participated in rights to his name, image, and likeness. The company has published the catalog for more than a decade and will continue working with the estate to steward his music.
- José Feliciano Recorded-Music AcquisitionReservoir acquired master recording rights to José Feliciano's catalog and shared rights to his name, image, and likeness. Feliciano's catalog includes more than 60 albums and 'Feliz Navidad,' which recently reached number six on the Hot 100, was inducted into the Grammy Hall of Fame in 2010, and was selected for preservation in the National Recording Registry this year.
- Expansion of NIL and Latin-Music OpportunitiesThe Billy Strayhorn and José Feliciano transactions include name, image, and likeness components, expanding Reservoir's participation in the NIL value chain. Management said the José Feliciano deal builds on existing investments in Latin music, which it described as one of the fastest-growing areas of global music demand.
- Positive Music-Industry TrendsManagement cited continued opportunities from subscription price increases, positive sentiment around catalog transactions, and established artists increasingly generating economics from touring and brand partnerships. These trends reinforced management's conviction in the long-term value of music copyrights and well-managed catalogs.
- Potential AI Licensing Revenue and Rights ProtectionManagement highlighted potential industry growth from new AI licensing revenue, as noted in Goldman Sachs' annual Music in the Air report. Reservoir said it is pursuing litigation against certain AI platforms where it believes works were exploited without authorization and will continue advocating for technological progress alongside protection of creative rights.
- Continued Investment Supported by Cash GenerationManagement said consistency of revenue and cash generation allows Reservoir to continue investing in its team, infrastructure, creators, and strategic opportunities without compromising financial discipline. The company also said its pipeline remains robust and that it is approaching its 20th anniversary in calendar year 2027 with opportunities identified ahead.
- Available Liquidity and Cash-Generative Seasonal PatternReservoir reported total available liquidity of $113.9 million, consisting of $24.8 million of cash on hand and $89.2 million available under its revolver. Management said the second and fourth quarters are typically strong cash-generative quarters, and that the second quarter was also relatively light for M&A activity.
- AI Tools Used for Internal EfficienciesManagement said its teams have been actively using AI tools over the past six to nine months to identify efficiencies in historically manual or time-consuming processes, including accounting-related work.
- Balanced M&A PipelineManagement said the M&A pipeline is well balanced across Publishing targets, Recorded Music targets, and emerging-market assets. Deals entering short-term deal flow were also described as balanced, although quarterly concentration can vary depending on timing.
- Improved Recorded Music Margin From AcquisitionsManagement said the year-over-year improvement in Recorded Music margin was primarily related to acquisitions of rights with very low, if any, expenses.
DE:0RL0 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 10, 2027 | 2027 (Q3) | 0.04- | 0.03 | ― | ― |
| Nov 04, 2026 | 2027 (Q2) | 0.040.06 | 0.03 | 133.33% (+0.04) | |
| Aug 04, 2026 | 2027 (Q1) | -0.010.00 | -0.01 | 100.00% (+0.01) | |
| May 28, 2026 | 2026 (Q4) | 0.040.06 | 0.04 | 75.00% (+0.03) | |
| Feb 04, 2026 | 2026 (Q3) | 0.010.03 | 0.07 | -62.50% (-0.04) | |
| Nov 04, 2025 | 2026 (Q2) | 0.040.03 | 0 | ― | |
| Aug 05, 2025 | 2026 (Q1) | -0.00-0.01 | -0.01 | 0.00% (+0.00) | |
| May 28, 2025 | 2025 (Q4) | 0.040.04 | 0.04 | 0.00% (+0.00) | |
| Feb 05, 2025 | 2025 (Q3) | 0.020.07 | -0.04 | 260.00% (+0.12) | |
| Oct 30, 2024 | 2025 (Q2) | 0.030.00 | 0.01 | -100.00% (-0.01) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
