Live Nation Entertainment(US:LYV) ZACKSยท2024-11-07 13:11Core Viewpoint - Live Nation Entertainment, Inc. (LYV) is expected to report a decline in third-quarter 2024 earnings and revenues compared to the previous year, primarily due to reduced stadium activity and increased operational costs [3][4]. Financial Estimates - The Zacks Consensus Estimate for LYV's third-quarter earnings per share (EPS) has decreased to $1.58 from $1.63, reflecting an 11.2% decline from $1.78 in the same quarter last year [2]. - Revenue estimates are approximately $7.91 billion, indicating a 3% decrease from the prior year's figure [2]. Factors Influencing Performance - A decline in stadium shows and lower fan attendance in the International segment are anticipated to negatively impact revenues and earnings [3]. - Increased labor-hiring costs, artist activation costs, and other operational expenses are expected to further affect the bottom line [4]. Revenue Breakdown - Concert revenues are projected to decrease by 0.4% year over year to $6.9 billion, while ticketing revenues are expected to decline by 0.9% to $824.9 million [4]. - Sponsorship and advertising revenues are also forecasted to decrease by 0.4% to $365.2 million [4]. Positive Factors - Despite the challenges, strong global fan demand for live events, robust ticket sales, and growth in sponsorship are likely to support performance [5]. - An increase in average spending per fan, higher ticket prices, and additional revenue streams from beer sales and parking are expected to improve margins in the Concert segments [5]. Earnings Prediction Model - The current model does not predict an earnings beat for LYV, as it lacks a positive Earnings ESP and a favorable Zacks Rank [6]. - LYV has an Earnings ESP of -2.58% and a Zacks Rank of 3 (Hold) [6][7].