10-K · February 19, 2026
Live Nation reiterates its market leadership in live entertainment — connecting over 805 million fans and promoting ~55,000 events in 2025 — with Concerts generating $20.9 billion (83% of revenue) in 2025. The company’s…
Earnings analysis · 10-Q
LYV earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Live Nation Entertainment reported a robust revenue growth in Q1 2026, with total revenue reaching $3.79 billion, exceeding expectations. However, the company faced a substantial EPS loss of -$1.85, significantly…
Read full summary
Live Nation Entertainment reported a robust revenue growth in Q1 2026, with total revenue reaching $3.79 billion, exceeding expectations. However, the company faced a substantial EPS loss of -$1.85, significantly missing consensus estimates due to significant legal expenses, overshadowing the positive ticket sales growth and deferred revenue increases.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.85
- Operating margin
- -9.8%
What stood out
-
Revenue Exceeds Projections
Total revenue for Q1 2026 was $3.79 billion, surpassing estimates of $3.6 billion by 5.3%.
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Strong Ticket Sales Growth
Ticket sales for events expected to occur in 2026 are pacing up in high single-digits compared to last year.
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Record Deferred Revenue
Deferred revenue jumped to $6.6 billion, up by $1.2 billion or 22% year-over-year.
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Positive Segment Growth
All segments reported revenue increases: Concerts up 12%, Ticketing up 10%, and Sponsorship & Advertising up 20%.
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Improved Operating Cash Flow
Cash provided by operating activities increased significantly to $2.34 billion for Q1 2026.
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Substantial Capital Expenditures
Capital expenditures totaled $249.26 million in Q1 2026, up from $140.88 million a year earlier.
What to watch
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High Legal Accruals Impact
The company recorded a $450 million legal accrual, impacting operating income significantly.
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Increased Operating Losses
Operating loss for the quarter was $370.5 million, down from an operating income of $114.8 million in Q1 2025.
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Potential Debt Service Issues
Total net debt rose to $8.5 billion from $8.2 billion as of December 31, 2025, increasing financial pressures.
Management's outlook
No numeric FY guidance provided; management expects continued growth based on strong ticket sales.
Earlier filings 4
10-Q · August 7, 2025
Live Nation reported Q2 revenue of $7,006,641,000, up $983,225,000 (+16.3%) versus Q2 2024, but diluted EPS declined to $0.41 from $1.03 a year ago. Operating income rose modestly to $486,653,000, while gross margin…
10-Q · May 1, 2025
Live Nation reported Q1 revenue of $3,382,117 (thousand) versus $3,799,529 in Q1 2024, a YoY decline of $417,412 (thousand). The company swung to GAAP operating income of $114,769 (thousand) from an operating loss of…
10-Q · July 30, 2024
Live Nation reported Q2 revenue of $6,023,416 (three months ended June 30, 2024) versus $5,630,723 in Q2 2023, with operating income of $465,819 and diluted EPS of $1.03. Operating margin improved to ~7.7% and operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.