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Liberty Media Liberty Formula One (FWONK) Q3 2026 Earnings Report
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FWONK Q3 2026 EPS Results
- Actual EPS
- $0.64
- Consensus EPS
- $0.56
- Beat/Miss
- Beat by +$0.08
- One Year Ago EPS
- $0.26
FWONK Q3 2026 Revenue Results
- Actual Revenue
- ―
- Expected Revenue
- $1.24B
- Beat/Miss
- ―
- YoY Revenue Growth
- ―
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
FWONK Upcoming Earnings
Liberty Media Liberty Formula One's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
FWONK Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. Management highlighted robust Formula 1 demand, record and sold-out attendance, digital and hospitality growth, expanding partnerships, MotoGP engagement momentum, and significant long-term growth initiatives. These positives outweighed the explicitly stated declines in year-to-date Formula 1 and MotoGP financial results, the corporate adjusted OIBDA loss, leverage, and ongoing geopolitical calendar uncertainty.
Company Guidance
Liberty expects the Formula 1 race count to be 23 races for the year, noted that additional 2026 calendar changes may be made, and expects to return to a full 24-race calendar next season; for the full year, it still expects to see roughly 200-basis-point improvement in leverage on the team-payments metric, with the payout percentage expected to remain relatively stable through 2030. In 2027, Formula 1 expects to expand the Sprint format to 10 Sprints, up from 6 this year, while MotoGP expects Argentina, Adelaide, and Australia to come online, with renewals “probably around 7. 75% of the calendar.”
- Strong Operating Performance and Continued InvestmentManagement said Liberty Media's operating businesses performed "incredibly well" and had a great third quarter. The company remains focused on continuing to invest behind its two iconic franchises, Formula 1 and MotoGP.
- Formula 1 Demand and Attendance MomentumDemand for Formula 1 was described as running ahead of what the company can supply. Through Austin, F1 welcomed 5.8 million fans season to date, recorded 18 consecutive sold-out events, and had 11 races set new attendance records.
- Successful Bahrain-to-Malaysia Race RelocationFormula 1 successfully staged the Bahrain Grand Prix in Malaysia after a calendar disruption. The event drew 261 thousand fans, the biggest Grand Prix attendance ever at Sepang.
- Madrid Grand Prix Sold Out in Its First YearFormula 1 raced at a brand-new circuit in Madrid for the first time and sold out in year 1. Management highlighted Madrid's potential to become a broader sport, entertainment, business, and cultural showcase.
- Formula 1 Calendar and Format ExpansionFormula 1 expects to return to a full 24-race calendar next season. The Sprint format is planned to expand to 10 races from 6 this year, and Portugal and Turkey are scheduled to return to the calendar next year.
- Expansion to Africa and Global Geographic ReachFormula 1 announced a landmark 10-year agreement for an African Grand Prix in Rwanda beginning in the early 2030s. Management said Rwanda's addition will bring F1 racing to every inhabited continent and noted that Africa is estimated to have more than 100 million Formula 1 fans.
- Formula 1 Digital and Social GrowthFormula 1's social media following reached 129 million, up 16% year over year. Total YouTube views surpassed 1.7 billion, up 30% year over year, with 75 million hours of watch time. YouTube highlights views reached 270 million, up 25% year over year, with 16.2 million hours watched.
- Hospitality Demand and Capacity ExpansionHospitality revenue increased, driven by strong demand for the Paddock Club, including a favorable contribution from Madrid. Paddock Collaborate capacity in Monza and a new Paddock Club space in Austin each increased capacity by 15%. Management said next year's capacity is almost gone because of strong demand.
- New Premium Hospitality and Partner ExperiencesF1 launched the LVMH Out Lap dining experience in Belgium, the Netherlands, Monza, and Madrid, with plans to make it available at all European races in 2027. The Soho House and Lewis Hamilton House 44 collaboration is planned to grow from 9 locations this year to 13 in 2027.
- Las Vegas Grand Prix MomentumTicket revenue, including hospitality, for the upcoming Las Vegas Grand Prix was pacing ahead, while sponsorship had already surpassed 2025 levels. Management said the event was expected to have high revenue, contained costs, and fantastic attendance. The race has generated over $3 billion in cumulative economic input for Las Vegas.
- Formula 1 Licensing, Retail, and Exhibition GrowthF1 signed new licensing agreements, including a bespoke Leica F1 camera, extended its Disney partnership through 2028, opened 3 additional flagship stores and new off-track F1 hubs, and reported record-breaking merchandise sales in Austin. The traveling F1 Exhibition has visited 11 cities across 4 continents and sold more than 2 million tickets.
- Formula 1 Commercial and Media PartnershipsF1 extended its media rights relationship with DAZN in Spain, Portugal, and Andorra through 2030, renewed its LIQUI MOLY sponsorship under a new multiyear agreement, and said sponsorship momentum remained strong with new partners expected across additional categories.
- Apple TV Partnership Expands U.S. ReachManagement said the Apple TV relationship provided an opportunity to reach younger U.S. fans, noting that the U.S. market is 40% male with an average age between 18 and 24. The product was said to have exceeded expectations, and Apple was described as potentially interested in future market opportunities.
- Formula 1 Team Payment Leverage Improvement ExpectedTeam payments were 58.7% of pre-team-share adjusted OIBDA year to date. For the full year, management still expected roughly 200-basis-point improvement in leverage on this metric, in line with the average improvement over the past 4 years.
- MotoGP Organizational StrengtheningMotoGP promoted Carlos Ezpeleta to Deputy CEO and added senior executives across strategy, operations, commercial, media, and finance. Management said the new leadership team brings experience from UFC, TKO Group Holdings, Formula 1, Tottenham Hotspur, the NFL, Warner Bros. Discovery, and Manchester United.
- MotoGP Fan and Digital Engagement GrowthFive MotoGP races set new circuit attendance records season to date. MotoGP ended the quarter with 63 million total followers across platforms; TikTok engagement increased over 60% and viewership increased over 40%.
- MotoGP Commercial and Calendar DevelopmentsMotoGP renewed media partnerships with DAZN, Kayo Sports, and Fox in Australia under a new multiyear agreement beginning in 2027. It extended Portugal through 2029 and Mugello through 2031, and Red Bull will become title sponsor of the Australian Grand Prix next season.
- MotoGP Growth Initiatives and New Race FormatMotoGP plans to launch its 2027 season in Rio de Janeiro with a citywide celebration and bike exhibition. Beginning next season, qualifying will be restructured so Qualifying 1 and Qualifying 2 move to Saturday morning, a change management said is intended to make the weekend easier to follow, create additional storylines, and support safety.
- MotoGP Rider Development and Competitive ProductThe 2027 MotoGP grid will include 5 new riders, including 4 Moto2 graduates and the reigning World Superbike champion. Management said the influx of young talent reinforces the strength of MotoGP's rider development pathway.
- Cross-Sport Audience ExpansionMotoGP activated at the Formula 1 weekend in Austin, reaching a sold-out crowd of 467 thousand F1 fans and generating over 50 million impressions online across MotoGP and F1 digital platforms. Management also cited recent activations alongside FIBA.
- Liquidity and Debt Covenant ComplianceAt quarter end, Liberty Media had approximately $2.3 billion of cash and liquid investments, including $1.3 billion at F1 and $199 million at MotoGP. F1's $500 million revolver and MotoGP's €100 million revolver remained undrawn, and both businesses were in compliance with their debt covenants.
- Capital Structure SimplificationLiberty Media acquired all Series B common stock held by Dr. John Malone and related entities in exchange for Series A and Series C shares. Malone's aggregate voting power declined to approximately 3%, and management said the transaction better aligns voting power with economic ownership while simplifying the capital structure.
- Corporate Governance and Legal LeadershipPhillip Blek joined Liberty Media from Cravath in October as Chief Legal Officer. Management also said it would continue evaluating the optimal capital structure and governance structure.
- Grand Prix Plaza Rental RevenueCorporate and other revenue was $18 million year to date, relating to rental income generated by Grand Prix Plaza in Las Vegas.
FWONK Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | 0.95- | 0.33 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 0.560.64 | 0.26 | 146.15% (+0.38) | |
| Aug 06, 2026 | 2026 (Q2) | 0.240.02 | 1.52 | -98.68% (-1.50) | |
| May 07, 2026 | 2026 (Q1) | -0.040.22 | 0.09 | 144.44% (+0.13) | |
| Feb 26, 2026 | 2025 (Q4) | 0.370.33 | -1 | 132.93% (+1.33) | |
| Nov 05, 2025 | 2025 (Q3) | 0.260.26 | 0.48 | -45.49% (-0.22) | |
| Aug 07, 2025 | 2025 (Q2) | 0.641.52 | 0.1 | 1420.00% (+1.42) | |
| May 07, 2025 | 2025 (Q1) | -0.100.09 | 0.32 | -71.88% (-0.23) | |
| Feb 27, 2025 | 2024 (Q4) | 0.38-1.00 | 0.25 | -500.80% (-1.25) | |
| Nov 07, 2024 | 2024 (Q3) | 0.210.48 | 0.49 | -3.05% (-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
