Analyst Consensus ?
ConsensusBuy25 ratings
Bullish1872.0%
Neutral624.0%
Bearish14.0%
Liberty Media Corporation · FWONK · FY2026 Q3 · Calendar Q4 2026
F1 attendance and hospitality lead, while expansion carries execution risks
The call supports a cautious case that F1 attendance and premium hospitality, alongside licensing, media partnerships and MotoGP cross-promotion, can underpin growth. The case remains conditional on demand, execution and a stable race calendar; the supplied analysis does not establish that these drivers will outweigh geopolitical or leverage risks.
Why did FWONK rise 7.7% after missing EPS estimates in FY2026 Q3?
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Reported Before market openNASDAQCommunication Services
$26.71B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.54
Consensus $0.56
EPS surprise
-3.7%
Reported versus consensus
Reported revenue
$1.23B
Consensus $1.24B
Revenue surprise
-1.5%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+7.7%
Event window
SPY move
-4.4%
Same window
Abnormal move
+12.1%
Stock minus SPY
Volume
3.9×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
FWONKSPY benchmark
Ask FN2 about FWONK FY2026 Q3
Choose a question to continue your research
Why did FWONK rise 7.7% after missing EPS estimates in FY2026 Q3?What changed in FWONK's guidance and outlook in FY2026 Q3?Give me the bull and bear case for FWONK after FY2026 Q3 earnings.
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Transcript intelligence
What changed
The current-quarter analysis emphasizes strong F1 attendance and hospitality, MotoGP leadership changes and cross-promotion, and a simplified capital structure after the Malone share transaction. Against the prior-quarter account of F1 revenue pressure from calendar variability and MotoGP growth, the current narrative puts more weight on F1 demand and expansion opportunities.
Guidance delta
Guidance sentiment was characterized as maintained; no change is identified in the supplied analysis.
Key takeaways
- F1 attendance and Paddock Club hospitality were highlighted as revenue drivers despite flat overall top-line performance.
- MotoGP leadership changes and cross-promotion with F1 are intended to support commercial development.
- Race-calendar expansion, sprint events, licensing and media partnerships are presented as growth opportunities.
- Calendar variability, geopolitical instability and leverage remain important counterweights.
Management priorities
- Expand premium hospitality products across F1 and MotoGP.
- Develop race-calendar and event-format opportunities, including planned new markets and additional sprint events.
- Build licensing and media-rights partnerships and strengthen MotoGP commercial leadership.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$105.98Current
$81Low
$108.44Average
$134High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 6, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Susquehanna | Positive | Positive | Maintain | Oct 16, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Sep 29, 2026 |
| Guggenheim | Buy | Buy | Maintain | Aug 17, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 7, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jul 28, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 6, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | May 8, 2026 |
| Rosenblatt | Buy | Buy | Maintain | Jun 4, 2025 |
| Seaport Global | Buy | Neutral | Upgrade | Mar 17, 2025 |
| Morgan Stanley | Overweight | Overweight | Maintain | Feb 28, 2025 |
| Citigroup | Buy | Neutral | Upgrade | Oct 5, 2023 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Sep 5, 2023 |
| Benchmark | Buy | Buy | Maintain | Aug 7, 2023 |
| TD Cowen | Outperform | Outperform | Maintain | Jun 5, 2023 |
| Goldman Sachs | Neutral | Neutral | Maintain | Apr 18, 2023 |
| Pivotal Research | Buy | Buy | Maintain | Apr 17, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 14, 2022 |
| Barclays | Underweight | Underweight | Maintain | Aug 8, 2022 |
| B. Riley FBR | Buy | Buy | Maintain | Mar 18, 2020 |
| B. Riley Securities | Buy | Buy | Maintain | Mar 17, 2020 |
| FBN Securities | Perform | Outperform | Downgrade | Sep 18, 2019 |
| B. Riley | Buy | Neutral | Upgrade | May 16, 2019 |
| Bank of America | Buy | Buy | Maintain | Sep 28, 2017 |
| FBR Capital | Neutral | Neutral | Maintain | Aug 15, 2017 |
Named analyst price targets
Upside is calculated against the persisted current price $105.98. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Susquehanna | Analyst unavailable | $110 | $90.81 | +3.8% | Oct 16, 2026 |
| Wells Fargo | Analyst unavailable | $96 | $94.86 | -9.4% | Sep 29, 2026 |
| Jefferies | Anthony Berni | $115 | $94.95 | +8.5% | Sep 9, 2026 |
| Guggenheim | Curry Baker | $134 | $104.24 | +26.4% | Aug 14, 2026 |
| Morgan Stanley | Analyst unavailable | $125 | $101.88 | +17.9% | Jul 29, 2026 |
| Capital One Financial | Analyst unavailable | $116 | $102.23 | +9.4% | Jul 29, 2026 |
| Bernstein | Analyst unavailable | $119 | $100.93 | +12.3% | Jul 28, 2026 |
| Capital One Financial | Analyst unavailable | $115 | $98.5 | +8.5% | Jul 6, 2026 |
| Morgan Stanley | Sean Diffley | $120 | $94.1 | +13.2% | May 8, 2026 |
| Bernstein | Ian Moore | $115 | $94.25 | +8.5% | May 8, 2026 |
| Morgan Stanley | Analyst unavailable | $117 | $85.95 | +10.4% | Apr 30, 2026 |
| UBS | Analyst unavailable | $104 | $91.67 | -1.9% | Apr 15, 2026 |
| Guggenheim | Curry Baker | $124 | $86.66 | +17.0% | Jan 30, 2026 |
| Bernstein | Ian Moore | $111 | $90.28 | +4.7% | Jan 12, 2026 |
| Wolfe Research | Peter Supino | $123 | $93.48 | +16.1% | Dec 15, 2025 |
| Susquehanna | Analyst unavailable | $119 | $102.32 | +12.3% | Nov 6, 2025 |
| Susquehanna | Joseph Stauff | $120 | $103.32 | +13.2% | Jul 11, 2025 |
| Seaport Global | Analyst unavailable | $96 | $85.96 | -9.4% | Mar 16, 2025 |
| Morgan Stanley | Analyst unavailable | $110 | $96.43 | +3.8% | Feb 28, 2025 |
| Morgan Stanley | Benjamin Swinburne | $115 | $92.58 | +8.5% | Dec 18, 2024 |
| UBS | Ryan Gravett | $85 | $79.69 | -19.8% | Oct 17, 2024 |
| Seaport Global | David Joyce | $87 | $77.14 | -17.9% | Oct 7, 2024 |
| Rosenblatt Securities | Barton Crockett | $91 | $77.21 | -14.1% | Aug 14, 2024 |
| Rosenblatt Securities | Barton Crockett | $88 | $65.54 | -17.0% | Apr 2, 2024 |
| Morgan Stanley | Benjamin Swinburne | $72 | $58.12 | -32.1% | Jun 15, 2022 |
| Morgan Stanley | Analyst unavailable | $65 | $62.76 | -38.7% | May 2, 2022 |
| Rosenblatt Securities | Analyst unavailable | $81 | $66.63 | -23.6% | Apr 26, 2022 |
Track every rating change on FWONK the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFormula One Group is a global entity primarily involved in the motorsports industry, both domestically in the United States and abroad. It holds the exclusive commercial rights for the Formula 1 World Championship, an extensive series of motor races spanning roughly nine months each year. During this competition, both teams and individual drivers vie for separate titles: the Constructors' Championship for the teams and the Drivers' Championship for the individual racers. The company was established in 1950 and is headquartered in Englewood, Colorado, operating as a subsidiary of Liberty Media Corporation.
Communication Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TIGO Millicom International Cellular S.A. | FY2026 Q3 · Calendar Q4 2026 | -40.8% | +2.6% | Millicom sets Q3 EBITDA record, maintains full-year guidance |
| FWONA Formula One Group | FY2026 Q3 · Calendar Q4 2026 | -23.5% | +9.5% | Formula One’s Q3: Hospitality and licensing offset calendar variability |
| LYV Live Nation Entertainment, Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.9% | -1.1% | Live Nation raises outlook as record attendance and Ticketmaster gains drive Q3 |
Latest beats and misses
Who reports nextBeat on EPS
- MTDFY2026 Q3 · November 5, 2026+3.6% EPS+4.8% move
- IAGFY2026 Q3 · November 5, 2026+16.7% EPS+4.6% move
- GMABFY2026 Q3 · November 5, 2026+55.6% EPS-4.3% move
- STEFY2027 Q2 · November 4, 2026+9.7% EPS+2.5% move
- IRMFY2026 Q3 · November 5, 2026+4.6% EPS-11.1% move
- AFRMFY2027 Q1 · November 5, 2026+23.8% EPS+1.9% move
Missed on EPS
- VMRKFY2026 Q3 · November 4, 2026-425.6% EPS+2.4% move
- NTRAFY2026 Q3 · November 5, 2026-49.3% EPS-15.2% move
- TIGOFY2026 Q3 · November 5, 2026-40.8% EPS+2.6% move
- UHALFY2027 Q2 · November 4, 2026-15.4% EPS-3.2% move
- LAMRFY2026 Q3 · November 5, 2026-3.6% EPS-0.8% move
- CMIFY2026 Q3 · November 5, 2026-6.0% EPS-4.9% move
Get the FWONK recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-11-05T21:17:33.350315+00:00
- FN2 earnings calendar · 2026-11-06T01:23:16.275024+00:00
- Polygon adjusted daily market bars · 2026-11-06T12:00:48.575427+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-06T12:00:48.572718+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-06. For educational purposes only; not investment advice.