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.
LYV YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
LYV Revenue by Segment
With YoY comparisons, source: SEC Filings
“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
LYV Earnings Trends
LYV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LYV EPS Trend
Earnings per share: estimate vs actual
LYV Revenue Trend
Quarterly revenue: estimate vs actual
LYV Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-0.32 | $-1.85 | -485.63% | $3.79B | +5.30% |
| Q4 25 BEAT FY | $-1.05 | $-0.24 | +77.08% | $6.31B | +3.35% |
| FY Full Year | $-0.21 | $2.74 | +1,382.17% | $25.20B | +0.77% |
| Q3 25 MISS | $1.49 | $0.73 | -50.96% | $8.50B | -1.46% |
| Q2 25 MISS | $1.02 | $0.41 | -59.80% | $7.01B | +1.64% |
| Q1 25 MISS | $-0.03 | $-0.32 | -966.67% | $3.38B | -3.83% |