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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Manchester United
Manchester United (MANU) investor relations material
Manchester United Q4 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2026 earnings summary23 Sep, 2026
Executive summary
Achieved record full year revenue of £677.6 million, up 1.7% year-over-year, despite no UEFA competition participation.
Operating profit for the year reached £22.6 million, reversing a prior year loss of £18.4 million, driven by cost and headcount reductions and improved Premier League performance.
Adjusted EBITDA hit a record £216.4 million, up 18.4% from fiscal 2025.
Net loss for the year was £43.0 million, compared to £33.0 million in the prior year.
Men's team finished 3rd in the Premier League, returning to the UEFA Champions League for 2026/27.
Financial highlights
Full year revenue: £677.6 million (+1.7% YoY); Q4 revenue: £157.5 million (-4.0% YoY).
Adjusted EBITDA: £216.4 million (+18.4% YoY); Q4 adjusted EBITDA: £28.9 million (-22.9% YoY).
Operating profit: £22.6 million (vs. £18.4 million loss prior year).
Net loss: £43.0 million (vs. £33.0 million loss prior year).
Commercial revenue fell 4.8% YoY; broadcasting revenue rose 19.6% YoY; matchday revenue fell 4.2% YoY.
Outlook and guidance
Fiscal 2027 revenue guidance: £740–£760 million; adjusted EBITDA guidance: £205–£225 million.
Guidance reflects return to UEFA Champions League and higher player/staff costs.
Club remains compliant with Premier League and UEFA financial regulations.
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Latest events from Manchester United
- Operating profit and adjusted EBITDA surged, with upgraded revenue guidance for fiscal 2026.MANU
Q3 2026 - Profitability rebounded on cost cuts, with guidance maintained despite lower revenue.MANUQ2 2026
- Shelf registration enables up to $400M in flexible securities offerings leveraging a global sports brand.MANURegistration Filing
- Profitability improved on lower costs despite a 2% revenue dip; guidance reaffirmed.MANUQ1 2026
- Record revenue and improved profitability driven by commercial growth and cost reductions.MANUQ4 2025
- Net profit rebounded to £1.3m in Q1 FY2025 despite lower revenue and match volume.MANUQ1 2025
- Record revenue and restructuring mark a transformative year, but losses widened.MANUQ4 2024
- Q3 net loss widened to £71.5m, but full-year revenue is forecast at a record £660m.MANUQ3 2024
- Revenue up 17.4% and operating profit returned as transformation and investment accelerate.MANUQ3 2025
Next Manchester United earnings date
Q1 20273 Dec, 2026
Manchester United
Next Manchester United earnings date
Q1 20273 Dec, 2026
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Frequently asked questions
The Theatre of Dreams
Manchester United is a professional football club based in Manchester, England, that competes in the English Premier League. The club was founded in 1878 and has a rich history, having won numerous domestic and international titles throughout the years. Given the extraordinarily successful history, Manchester United's home stadium, Old Trafford, is now called The Theatre of Dreams.
The primary business model of Manchester United is generating revenue through matchday tickets, broadcasting rights, commercial partnerships, and merchandise sales. The club has a global fan base, which it leverages to secure lucrative commercial partnerships with companies such as Adidas, Chevrolet (General Motors), TeamViewer, and Kohler. The club has one of the largest fan bases in the world, with millions of supporters in countries such as China, India, and the United States.
An odd and tough industry
Creating profits within the football industry can be challenging, as the costs associated with player wages, transfer fees, and stadium operations can be significant. Additionally, football clubs are subject to fluctuations in revenue based on their on-field success, with winning trophies often leading to increased revenue through merchandise sales and sponsorship deals.
In recent years, Manchester United has experienced mixed financial results. The club reported record revenues of £627.1 million in the 2018/19 season, primarily due to increased broadcasting and commercial revenue. However, the COVID-19 pandemic had a significant impact on the club's financial performance, with revenue dropping to £509 million in the 2019/20 season due to the absence of matchday revenue. Despite this, Manchester United remains one of the wealthiest football clubs in the world, with a valuation of over $4 billion.