Equity Profile

FWONK

Formula One Group

Communication ServicesMovies & Entertainment$25.0B

May7Thu

Pre-Earnings Brief

UpcomingQ1-2026Pre-Market9:00 AM EDT

Company Snapshot

Formula One Group (FWONK) operates in the Communication Services sector, focusing on the entertainment of motorsport fans through Formula One racing. With a market cap of $25 billion, it plays a significant role in the global sports entertainment landscape, particularly as consumer spending on live events and streaming continues to evolve.

Key Metrics to Watch

EPS

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator for investors.

$-0.01

Revenue

Revenue figures provide insight into the company's sales performance and overall health, especially in a competitive entertainment market.

$670M

Wall Street expectations, options signals, track record, and call prep available with Pro.

FWONK Q1-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+48.38%

Avg Stock Reaction

-0.73%

Last Quarter Recap

In the last quarter, Formula One Group reported an EPS of $0.08, significantly missing the estimate of $0.32, which led to a 5.12% drop in stock price the following day. The company has faced challenges in meeting market expectations recently.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about the upcoming earnings, with expectations for a slight improvement in revenue but uncertainty around profitability indicated by the negative EPS consensus.

Bull Case

If the company can exceed revenue expectations and show a path to profitability, it may signal a turnaround, boosting investor confidence.

Bear Case

Conversely, if the company continues to miss earnings expectations, it may lead to further declines in stock price and investor sentiment.

Key Metrics to Watch

EPS

$-0.01

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator for investors.

Revenue

$670M

Revenue figures provide insight into the company's sales performance and overall health, especially in a competitive entertainment market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the company achieve revenue of at least $670 million?

This figure is critical as it reflects the company's ability to grow sales and meet market expectations, which could influence stock performance.

Can the EPS come in better than the consensus of $-0.01?

A better-than-expected EPS could signal improved profitability and operational efficiency, which is essential for restoring investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for revenue growth driven by increased fan engagement and new sponsorship deals.

Supporting Evidence

Recent trends in sports viewership suggest a rebound in live event attendance, which could boost revenues unexpectedly.

The company's historical performance shows that it can rebound quickly from misses, as seen in previous quarters.

Options pricing indicates significant movement, suggesting that the market is bracing for surprises.

Key Risk

If revenue growth exceeds $670 million, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's focus is on whether Formula One can turn around its recent performance and meet or exceed market expectations.

Bull Confirmed If

Revenue exceeding $670 million with a positive EPS would confirm a bullish outlook.

Bear Confirmed If

An EPS worse than $-0.01 alongside lower revenue would reinforce bearish sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±5.9%

The options market is pricing in a significant move around the earnings report, indicating uncertainty among investors.

Detail

30d HV

27.1%

Calls (600)P/C Ratio: 4.00Puts (8K)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

100.84%

of float

Insider

2.75%

of float

Holders

835

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
21,133,295 sh · $1.9B
9.43%
3.5%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential stock increase of around 2.91%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further guidance.

Miss

A miss could lead to a decline of about 2.91%, reflecting ongoing concerns about the company's profitability.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on new sponsorship deals and their expected impact on revenue.
2Any commentary on fan engagement and attendance trends for upcoming races.
3Insights into cost management strategies that could improve profitability.
4Details on international expansion efforts and their potential revenue contributions.
5Management's outlook on the competitive landscape and how it plans to differentiate itself.

See the full picture

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator for investors.

$-0.01

Revenue

Revenue figures provide insight into the company's sales performance and overall health, especially in a competitive entertainment market.

$670M

Wall Street expectations, options signals, track record, and call prep available with Pro.

FWONK Q1-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+48.38%

Avg Stock Reaction

-0.73%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about the upcoming earnings, with expectations for a slight improvement in revenue but uncertainty around profitability indicated by the negative EPS consensus.

Bull Case

If the company can exceed revenue expectations and show a path to profitability, it may signal a turnaround, boosting investor confidence.

Bear Case

Conversely, if the company continues to miss earnings expectations, it may lead to further declines in stock price and investor sentiment.

Key Metrics to Watch

EPS

$-0.01

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator for investors.

Revenue

$670M

Revenue figures provide insight into the company's sales performance and overall health, especially in a competitive entertainment market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the company achieve revenue of at least $670 million?

This figure is critical as it reflects the company's ability to grow sales and meet market expectations, which could influence stock performance.

Can the EPS come in better than the consensus of $-0.01?

A better-than-expected EPS could signal improved profitability and operational efficiency, which is essential for restoring investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for revenue growth driven by increased fan engagement and new sponsorship deals.

Supporting Evidence

Recent trends in sports viewership suggest a rebound in live event attendance, which could boost revenues unexpectedly.

The company's historical performance shows that it can rebound quickly from misses, as seen in previous quarters.

Options pricing indicates significant movement, suggesting that the market is bracing for surprises.

Key Risk

If revenue growth exceeds $670 million, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's focus is on whether Formula One can turn around its recent performance and meet or exceed market expectations.

Bull Confirmed If

Revenue exceeding $670 million with a positive EPS would confirm a bullish outlook.

Bear Confirmed If

An EPS worse than $-0.01 alongside lower revenue would reinforce bearish sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±5.9%

The options market is pricing in a significant move around the earnings report, indicating uncertainty among investors.

Detail

30d HV

27.1%

Calls (600)P/C Ratio: 4.00Puts (8K)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

100.84%

of float

Insider

2.75%

of float

Holders

835

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
21,133,295 sh · $1.9B
9.43%
3.5%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential stock increase of around 2.91%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further guidance.

Miss

A miss could lead to a decline of about 2.91%, reflecting ongoing concerns about the company's profitability.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on new sponsorship deals and their expected impact on revenue.
2Any commentary on fan engagement and attendance trends for upcoming races.
3Insights into cost management strategies that could improve profitability.
4Details on international expansion efforts and their potential revenue contributions.
5Management's outlook on the competitive landscape and how it plans to differentiate itself.