Equity Profile

FWONK

Formula One Group

Communication ServicesMovies & Entertainment$26.0B

Aug6Thu

Pre-Earnings Brief

UpcomingQ3-2024Pre-Market9:00 AM EDT

Company Snapshot

Formula One Group (FWONK) is a leading organization in the entertainment sector, primarily known for its global motorsport events. As a key player in the communication services industry, it benefits from rising consumer interest in live sports and entertainment experiences.

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

-$0.02

Revenue

Revenue figures will provide insight into the company's overall performance and growth trajectory, especially in light of recent trends in live events.

$670M

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

FWONK Q3-2024 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 Q2-2024, Formula One reported an EPS of $0.08, which was significantly below the expected $0.32, leading to a 5.12% drop in stock price the following day. The company continues to face challenges in meeting analyst expectations.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about the upcoming earnings, expecting a slight loss in EPS and moderate revenue. The market is closely watching for any signs of recovery in profitability.

Bull Case

If the company can exceed revenue expectations and show a path to profitability, it could signal a strong recovery and boost investor confidence.

Bear Case

Conversely, if the company fails to meet even the lowered expectations, it could lead to further declines in stock price and investor sentiment.

Key Metrics to Watch

EPS

-$0.02

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

Revenue

$670M

Revenue figures will provide insight into the company's overall performance and growth trajectory, especially in light of recent trends in live events.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the company report revenue above $670 million?

Exceeding this revenue target could indicate stronger demand and operational improvements, which are crucial for restoring investor confidence.

What is the outlook for EPS moving forward?

Given the recent history of missing EPS estimates, clarity on future profitability will be vital for market sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a revenue rebound driven by increased fan engagement and event attendance, which could lead to better-than-expected results.

Supporting Evidence

The options market is pricing a significant move, indicating that traders anticipate volatility and potential surprises.

Recent trends in live sports viewership suggest a growing audience, which could translate into higher revenues.

Key Risk

If the company reports revenue significantly above $670 million, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Formula One can recover from recent earnings misses and demonstrate growth.

Bull Confirmed If

Reporting revenue above $726 million would confirm the bull case, indicating strong demand and operational efficiency.

Bear Confirmed If

Conversely, revenue below $570 million would confirm the bear case, suggesting ongoing challenges in the business.

Pre-Earnings Positioning

Options Market

Implied Move

±12.1%

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings report.

Detail

ATM IV

0.3%

30d HV

27.0%

Calls (700)P/C Ratio: 47.14Puts (33K)

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 Formula One beats expectations, history suggests the stock could rise by around 2.91%, confirming a positive turnaround narrative.

In-Line / Cautious

An in-line report may lead to muted reactions, as the market digests management's commentary on future prospects.

Miss

If the company misses expectations, history indicates a potential decline of about 2.91%, further impacting investor sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on ticket sales and attendance figures for upcoming races.
2Details on new sponsorship deals or partnerships that could enhance revenue.
3Management's commentary on cost control measures and profitability outlook.
4Insights into fan engagement strategies and their impact on future events.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

-$0.02

Revenue

Revenue figures will provide insight into the company's overall performance and growth trajectory, especially in light of recent trends in live events.

$670M

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

FWONK Q3-2024 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, expecting a slight loss in EPS and moderate revenue. The market is closely watching for any signs of recovery in profitability.

Bull Case

If the company can exceed revenue expectations and show a path to profitability, it could signal a strong recovery and boost investor confidence.

Bear Case

Conversely, if the company fails to meet even the lowered expectations, it could lead to further declines in stock price and investor sentiment.

Key Metrics to Watch

EPS

-$0.02

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

Revenue

$670M

Revenue figures will provide insight into the company's overall performance and growth trajectory, especially in light of recent trends in live events.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the company report revenue above $670 million?

Exceeding this revenue target could indicate stronger demand and operational improvements, which are crucial for restoring investor confidence.

What is the outlook for EPS moving forward?

Given the recent history of missing EPS estimates, clarity on future profitability will be vital for market sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a revenue rebound driven by increased fan engagement and event attendance, which could lead to better-than-expected results.

Supporting Evidence

The options market is pricing a significant move, indicating that traders anticipate volatility and potential surprises.

Recent trends in live sports viewership suggest a growing audience, which could translate into higher revenues.

Key Risk

If the company reports revenue significantly above $670 million, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Formula One can recover from recent earnings misses and demonstrate growth.

Bull Confirmed If

Reporting revenue above $726 million would confirm the bull case, indicating strong demand and operational efficiency.

Bear Confirmed If

Conversely, revenue below $570 million would confirm the bear case, suggesting ongoing challenges in the business.

Pre-Earnings Positioning

Options Market

Implied Move

±12.1%

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings report.

Detail

ATM IV

0.3%

30d HV

27.0%

Calls (700)P/C Ratio: 47.14Puts (33K)

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 Formula One beats expectations, history suggests the stock could rise by around 2.91%, confirming a positive turnaround narrative.

In-Line / Cautious

An in-line report may lead to muted reactions, as the market digests management's commentary on future prospects.

Miss

If the company misses expectations, history indicates a potential decline of about 2.91%, further impacting investor sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on ticket sales and attendance figures for upcoming races.
2Details on new sponsorship deals or partnerships that could enhance revenue.
3Management's commentary on cost control measures and profitability outlook.
4Insights into fan engagement strategies and their impact on future events.