Liberty Live Holdings (LLYVK) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $105.9M and net earnings were $333.8M, largely reflecting $309.2M of net gains on financial instruments; nine-month net loss narrowed to $229.0M and adjusted OIBDA loss to $2.3M.

• Q3 revenue was $1.226B, operating income $237M, net earnings $162M and Adjusted OIBDA $353M; nine-month revenue was $2.871B, operating income $389M, net earnings $223M and Adjusted OIBDA $740M.

Financial highlights

• Quint Q3 revenue rose $44.2M YoY to $105.9M; nine-month revenue rose $69.2M to $316.6M despite lower NBA and hotel-package revenue.

• Q3 operating loss narrowed to $11.6M from $16.8M; nine-month operating loss narrowed to $29.2M from $36.7M. Q3 EPS was $3.63 basic and $3.60 diluted, versus a $0.61 loss per share.

• Q3 net gains on financial instruments were $309.2M versus losses of $175.7M YoY; nine-month net losses were $344.1M versus $481.6M.

• Q3 revenue of $1.226B compared with $1.085B; operating income was $237M versus $158M and net earnings $162M versus $13M. Nine-month revenue was $2.871B versus $2.873B.

• Adjusted OIBDA was $353M in Q3 versus $297M and $740M for nine months versus $739M; prior-year nine-month results included $28M of MotoGP acquisition costs added back in the reconciliation.

Outlook and guidance

• Projected remaining-year cash uses outside normal operating expenses included $7.3M of interest and service fees; funding sources include cash, operating cash flow and margin-loan borrowings. Available liquidity was assessed as sufficient, with $400M available under the Live Nation Margin Loan.

• Middle East conflict-related calendar changes are expected to adversely affect 2026 Quint results; further changes may be needed if the conflict persists.

• F1’s 2026 calendar was revised to 23 races and MotoGP’s calendar has a different order and mix; further changes may be necessary. F1 announced 10 Sprint events for 2027.

• F1 Live returns in Milan in February 2027 as a three-day event; MotoGP’s 2027 calendar introduces a revised weekend format.