Pre-earnings brief
Reports
Thu, Nov 5, 2026
Est. EPS
—
Est. revenue
—
Implied move
±7.0%
EPS beat rate
0%
Formula One Group (FWONA) is a leading organization in the movies and entertainment sector, primarily known for its global motorsport events. With a market cap of $22 billion, it plays a significant role in the communication services industry, capitalizing on trends in sports entertainment and consumer engagement.
Last quarter
In Q2-2024, Formula One reported an EPS of $0.08, significantly missing the expected $0.34, which led to a 4.61% drop in stock price the following day. The disappointing results raised concerns about the company's profitability and growth trajectory.
EPS beat streak
0Q
EPS beat rate
0%
Avg EPS surprise
-17.56%
Avg 1-day reaction
-0.71%
Overall, expectations are cautious as the company has missed earnings estimates in the past two quarters. Investors are looking for signs of improvement in profitability and revenue growth.
Bull case
If Formula One can show a strong recovery in EPS and revenue, it could signal that the company is effectively managing its costs and capitalizing on its global fan base, leading to a positive market reaction.
Bear case
On the other hand, continued earnings misses or weak revenue growth could further erode investor confidence, leading to a decline in stock price.
The print will turn on these.
Q1
What will the EPS be for Q3-2024?
Given the significant misses in the last two quarters, the EPS figure will be critical in assessing the company's profitability and operational efficiency.
Q2
How has revenue growth been impacted by recent events?
Understanding the factors affecting revenue will help investors gauge the company's market position and future growth potential.
—
Est. EPS
$-0.50
Est. Rev
$257M
Impl. Move
±7.5%
Why consensus could be wrong
The Street may be underestimating the potential for a rebound in viewership and sponsorship revenue, which could significantly improve EPS this quarter.
Supporting evidence
Despite recent misses, the global popularity of Formula One continues to grow, which could translate into higher revenue.
The options market is pricing a larger move than historical averages, indicating that investors are bracing for potential surprises.
Key risk
If the company reports an EPS significantly above the previous quarter's results, it could challenge the current bearish sentiment.
Pre-commit to what would confirm each case.
This quarter's performance is under scrutiny due to previous earnings misses, making the EPS and revenue growth critical indicators.
Bull confirmed if
A return to an EPS of $0.34 or higher would confirm the bull case, indicating effective cost management and revenue generation.
Bear confirmed if
An EPS below $0.08 would confirm the bear case, suggesting ongoing challenges in profitability.
What the market is pricing for the move.
Implied Move
±7.0%
The options market is pricing in a significant move of around 7% in either direction, indicating uncertainty among investors ahead of the earnings report.
ATM IV
0.3%
30d HV
23.7%
Smart-money positioning from the most recent 13F filings.
Institutional
99.80%
of float
Insider
1.85%
of float
Holders
404
institutions
Top Holders· as of Jun 2026
Linonia Partnership LP
2,118,059 sh · $186.9M
8.83%
Flat
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Formula One beats expectations, history suggests a potential stock increase of around 2.84%, confirming a turnaround in profitability.
In line / cautious
If results are in line with expectations but management's commentary remains cautious, the stock may experience minimal movement as investors reassess future prospects.
Miss
A miss on EPS could lead to a decline, with historical data suggesting an average drop of 2.84% following such outcomes.
The lines on the call that would change the story.
Principal Financial Group, Inc.
1,483,855 sh · $130.9M
6.19%
-2.3%
NORGES BANK
1,308,568 sh · $115.4M
5.45%
29.3%
State Of Wisconsin Investment Board
1,195,287 sh · $105.4M
4.98%
-7.6%
Blackrock Inc.
1,187,221 sh · $104.7M
4.95%
1.9%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.