TKO Group Holdings earnings date
TKO Group Holdings (WWFA) Q3 2026 Earnings Report
DE:WWFA Q3 2026 EPS Results
- Actual EPS
- EUR 1.20
- Consensus EPS
- EUR 1.08
- Beat/Miss
- Beat by +EUR 0.12
- One Year Ago EPS
- EUR 0.42
DE:WWFA Q3 2026 Revenue Results
- Actual Revenue
- EUR 1.23B
- Expected Revenue
- EUR 1.24B
- Beat/Miss
- Missed by -EUR 16.19M
- YoY Revenue Growth
- +21.45%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/04/2026
- Time
- After Close
- Conference Call
- Wednesday, November 4, 2026
TKO Group Holdings's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was strongly positive. TKO reported broad-based revenue and adjusted EBITDA growth, record UFC events and audiences, accelerating WWE partnerships, significant World Cup hospitality success, strong cash flow, raised full-year guidance, and continued capital returns. The principal challenges were WWE's lower revenue and live-event revenue due to its event mix, higher UFC event-related expenses, the absence of Ryder Cup revenue, Middle East event uncertainty, and the execution challenges inherent in building Zuffa Boxing. Highlights significantly outweighed lowlights.
TKO is now targeting full year 2026 revenue of $5.79 billion to $5.83 billion and adjusted EBITDA of $2.295 billion to $2.315 billion, an increase of $10 million and $15 million, respectively, at the midpoint of the ranges as compared to the prior guidance issued in August. The full year outlook assumes the slate of events scheduled in the Middle East, including a WWE PLE and 2 UFC Fight Nights, move forward as planned. UFC's fourth quarter is expected to include 10 live events, including 4 numbered events, while UFC expects meaningful enhancement in the UFC margin profile in the fourth quarter and for the full year; WWE's Q4 schedule has 4 premium live events compared to 2 in the prior year, full year partnership revenue growth is expected to be in excess of 20%, and fourth-quarter partnership revenue is expected to show approximately 50% year-over-year growth. IMG is expected to deliver healthy revenue growth and positive adjusted EBITDA, and, while TKO has not given formal guidance for free cash flow, it continues to target a free cash flow conversion rate in excess of 60%, normalizing for the impact of net payments related to the World Cup and UFC's rights deal with Skydance.
- Strong Consolidated Q3 GrowthTKO generated $1.36 billion of consolidated revenue and $556 million of adjusted EBITDA, producing a 41% adjusted EBITDA margin. Revenue increased 21%, adjusted EBITDA increased 54%, and adjusted EBITDA margin expanded approximately 870 basis points year over year.
- Full-Year Guidance Raised AgainTKO raised full-year 2026 guidance for the second consecutive quarter, targeting revenue of $5.79 billion to $5.83 billion and adjusted EBITDA of $2.295 billion to $2.315 billion. At the midpoint, this represents increases of $10 million for revenue and $15 million for adjusted EBITDA versus the August guidance.
- UFC Revenue and Profitability AccelerationUFC generated $519 million of revenue, up 60%, and $285 million of adjusted EBITDA, up 72%. UFC adjusted EBITDA margin was 55%, compared with 51% in the prior-year quarter, while margins increased approximately 400 basis points year over year.
- Record UFC Live-Event PerformanceEvery UFC event held outside the Meta APEX sold out during the quarter. UFC 329 generated a record $26 million gate, while UFC 330 and UFC 331 set the highest-grossing event records at Philadelphia's Xfinity Mobile Arena and Los Angeles' Crypto.com Arena, respectively. UFC delivered 10 sellouts and 7 arena records across 5 countries, and live-events revenue increased more than 80% year over year.
- UFC Audience and Media Rights GrowthUFC 329 drove nearly 16 million viewers to Paramount+, peaking at 8.3 million concurrent streams, a record audience on the platform. UFC media-rights revenue increased 66%, driven by higher fees under the Skydance deal and two additional events.
- UFC Partnerships and Licensing ExpansionUFC partnerships revenue increased 29%, driven by new partners, higher renewals, multiple categories, and a favorable event calendar. Consumer-products licensing revenue increased 51%, and EA Sports UFC 6 achieved record financial and engagement metrics for the franchise.
- Financial Incentive Package MomentumDemand for TKO's financial incentive packages is growing. UFC's debut event in Serbia became the highest-grossing event in Belgrade Arena history, while Noche UFC in Glendale became the highest-grossing domestic Fight Night in UFC history. Management said the FIP pipeline into 2027 is expanding.
- WWE Partnership Revenue ReacceleratedWWE global partnerships revenue increased approximately 30% year over year despite having only 1 premium live event versus 4 in the prior-year quarter. SummerSlam became WWE's third-highest-grossing premium live event by partnership revenue, behind WrestleMania 41 and WrestleMania 42. Management expects full-year WWE partnership revenue growth of more than 20%, implying approximately 50% growth in the fourth quarter.
- WWE Audience Reach and Commercial EngagementRaw appeared in Netflix's global top 10 for 12 of 13 weeks, and on September 14 it ranked in the top 10 in 24 countries, its widest reach since debuting on Netflix in January 2025. WWE also launched all programming on Netflix in Japan, and Sunday Night's Main Event sold out State Farm Arena in Atlanta as WWE's highest-grossing non-PLE event across more than 20 visits to the city over the last 10 years.
- WWE Adjusted EBITDA and Margin ImprovementWWE generated $399 million of revenue and $217 million of adjusted EBITDA. Revenue declined 1%, but adjusted EBITDA increased 5% and adjusted EBITDA margin improved to 54% from 52% in the prior-year quarter. Consumer-products licensing revenue increased 13%, driven by higher video-game and trading-card royalties.
- World Cup Hospitality Exceeded PlanOn Location's 2026 FIFA World Cup hospitality program delivered $2.4 billion in total hospitality sales, including nearly $500 million from the final match. More than 640,000 packages were sold across 16 host cities. The event generated approximately $90 million of full-year adjusted EBITDA, meaningfully exceeding the approximately $75 million estimate, including approximately $45 million in the third quarter.
- IMG Growth and New Production PartnershipsIMG revenue increased 16% to $391 million, while adjusted EBITDA increased 89% to $116 million and adjusted EBITDA margin rose to 30% from 18%. IMG was appointed the WTA's production partner under a multiyear agreement covering more than 50 tour events per season, and Netflix named IMG production partner for its 2027 FIFA Women's World Cup coverage, including every match and more than 100 hours of studio programming in Spanish, English, and French.
- Zuffa Boxing ExpansionZuffa Boxing had more than 100 fighters under contract and staged events in New York City, Dublin, and London during the quarter. The Garcia-Benn fight sold out T-Mobile Arena with nearly 19,000 fans and generated an $8 million-plus gate. Management said the boxing initiatives are ahead of schedule and plans to continue moving events into additional cities in 2027.
- Strong Cash Flow and Capital ReturnsTKO generated $450 million of third-quarter free cash flow, representing 81% free-cash-flow conversion of adjusted EBITDA. Year to date, the company returned more than $1.6 billion to equity holders through dividends and share repurchases, including a September 30 cash dividend of approximately $150 million, or $0.79 per share.
- Aggressive Share Repurchase ProgramTKO completed buybacks under its original $2 billion authorization ahead of the initial three- to four-year timeline and intends to use cash on hand and new debt to complete the remaining authorization under its $3 billion repurchase program. Management said it expects to be aggressively buying back stock.
- Healthy Balance Sheet and Future Event CadenceTKO ended the quarter with $4.647 billion of debt, $631 million of cash and cash equivalents, and $959 million of restricted cash. Net leverage was 2x based on $4.016 billion of net debt and $2.037 billion of trailing-twelve-month adjusted EBITDA. Fourth-quarter schedules include 10 UFC live events, including 4 numbered events, and 4 WWE premium live events versus 2 in the prior-year period.
- Strategic Media and Brand PartnershipsTKO is working with Skydance to maximize audience across HBO, TNT, Paramount+, and CBS. WWE is also expanding its partnership with The Walt Disney Company through the John Cena Classic, WWE World, and related Fanatics merchandise initiatives at Walt Disney World Resort.
- Continued Investment in Talent, LA28, and Growth InitiativesTKO increased investment in UFC talent, including bonuses, top-to-bottom roster talent, new fighters, and Contender Series development programming. The company is also continuing sales efforts supporting LA28, is tracking ahead of plan on LA28, and plans to discuss long-term growth drivers, international UFC media rights, partnerships, ticketing, licensing, Zuffa Boxing, and capital allocation at Investor Day in the first quarter.
DE:WWFA Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | 1.32- | -0.07 | ― | ― |
| Nov 04, 2026 | 2026 (Q3) | 1.081.20 | 0.42 | 182.98% (+0.78) | |
| Aug 03, 2026 | 2026 (Q2) | 1.271.21 | 1.05 | 14.53% (+0.15) | |
| May 06, 2026 | 2026 (Q1) | 1.001.01 | 0.62 | 62.32% (+0.39) | |
| Feb 25, 2026 | 2025 (Q4) | 0.21-0.07 | 0.25 | -128.57% (-0.32) | |
| Nov 05, 2025 | 2025 (Q3) | 0.530.42 | 0.25 | 67.86% (+0.17) | |
| Aug 06, 2025 | 2025 (Q2) | 1.051.05 | 0.65 | 62.50% (+0.41) | |
| May 08, 2025 | 2025 (Q1) | 0.550.62 | -1.14 | 154.76% (+1.76) | |
| Feb 26, 2025 | 2024 (Q4) | 0.130.25 | -0.14 | 275.00% (+0.40) | |
| Nov 06, 2024 | 2024 (Q3) | 0.470.25 | -0.23 | 207.69% (+0.49) |
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.
