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Live Nation Entertainment

Live Nation Entertainment (LYV) Q1 2026 Earnings

Reported May 5, 2026 at 4:16 PM ET · SEC Source

Q1 26 EPS

$-1.85

MISS 485.63%

Est. $-0.32

Q1 26 Revenue

$3.79B

BEAT +5.30%

Est. $3.60B

Did LYV Beat Earnings? Q1 2026 Results

Live Nation Entertainment delivered a split verdict in Q1 2026, posting revenue of $3.79 billion, up 12.2% year-over-year and ahead of the $3.60 billion consensus by 5.30%, while a massive EPS miss clouded the headline. The company reported a loss of… Read more Live Nation Entertainment delivered a split verdict in Q1 2026, posting revenue of $3.79 billion, up 12.2% year-over-year and ahead of the $3.60 billion consensus by 5.30%, while a massive EPS miss clouded the headline. The company reported a loss of $1.85 per share, falling sharply short of the $0.32 loss analysts had expected, a gap of nearly 486%, with the shortfall almost entirely attributable to a $450 million legal accrual tied to governmental investigations and litigation that swung GAAP operating income to a loss of $370.50 million from profit of $114.80 million a year ago. Strip out that charge and the operational picture looks considerably healthier, with adjusted operating income rising 9% to $371 million and the Sponsorship segment posting 20% revenue growth. Event-related deferred revenue reached a company-record $6.60 billion, up 22%, and management projecting double-digit adjusted operating income growth for the full year, suggesting the live entertainment demand cycle remains firmly intact despite the legal overhang.

Key Takeaways

  • • Fan attendance of 24 million in Q1, up 7% year-over-year
  • • 81 million fee-bearing tickets transacted in Q1, up 4%
  • • Primary GTV grew 14%, with concerts delivering most of the growth
  • • International festival strength in South America drove Sponsorship growth
  • • Growing venue portfolio contributing to sponsorship and concerts AOI
  • • Event-related deferred revenue of $6.6 billion, up 22%, largest in company history

LYV Forward Guidance & Outlook

Live Nation is pacing for double-digit adjusted operating income growth in 2026, though GAAP operating income will be impacted by the $450 million legal accrual. Over 85% of large-venue shows are booked for 2026 with show counts up year-over-year. Full-year fan attendance is projected to grow high-single digits. Concerts segment on track for double-digit AOI growth with improving margins. Ticketmaster primary fee-bearing ticket volume expected to grow mid-single digits for the full year, with AOI margin similar to 2025. Anti-scalper efforts expected to impact full-year Ticketmaster AOI by mid-single digits. Sponsorship AOI expected to grow double-digits for the full year. Full-year capital expenditures expected at $1.1–$1.2 billion, with $800–$850 million for venue expansion. Depreciation and amortization expected to grow 12-15% vs. FY25. Net interest expense expected at $280 million. Income tax expense expected at 15-20% of AOI. Noncontrolling interest expense expected to grow 25%. Accretion expense expected at $160-180 million. AOI-to-free cash flow adjusted conversion expected in line with or higher than 2025.

24/7 Wall St

LYV YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

LYV Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“2026 is off to a powerful start, with first quarter revenue climbing 12% to $3.8 billion. In an increasingly digital and AI-driven world, the global desire for authentic human connection has never been stronger. We are seeing a fundamental shift as fans prioritize the 'live' experience—the chance to be physically present with their favorite artists and share that energy with friends and fellow fans in a way a screen simply cannot replicate.”

— Michael Rapino, Q1 2026 Earnings Press Release

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