Equity Profile

FWONK

Formula One Group

Communication ServicesMovies & Entertainment$22.2B

Aug6Thu

Pre-Earnings Brief

UpcomingQ3-2024Pre-Market9:00 AM EDT

Company Snapshot

Formula One Group (FWONK) operates in the communication services sector, primarily focusing on the entertainment industry through its Formula One racing events. The company plays a significant role in global motorsport, attracting millions of fans and generating substantial revenue through broadcasting rights, sponsorships, and ticket sales.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and is closely watched by investors.

$-0.02

Revenue

Revenue figures provide insight into the company's overall performance and growth potential.

$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 Group reported an EPS of $0.08, which was significantly below the expected $0.32, leading to a stock decline of 5.12% the following day. The company did not provide revenue figures for this quarter.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect a challenging quarter for Formula One Group, with a consensus EPS of $-0.02 and revenue expectations at $670 million. Given the recent earnings miss, investor sentiment may be cautious.

Bull Case

If the company can exceed revenue expectations and show signs of profitability, it could restore investor confidence and drive the stock higher.

Bear Case

Conversely, if the company reports a larger-than-expected loss or lower revenue, it may lead to further declines in stock price, especially given the recent history of earnings misses.

Key Metrics to Watch

Earnings Per Share (EPS)

$-0.02

EPS is a key indicator of a company's profitability and is closely watched by investors.

Revenue

$670M

Revenue figures provide insight into the company's overall performance and growth potential.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $-0.02?

A better-than-expected EPS could signal a turnaround in profitability, which is crucial for restoring investor confidence.

How does the revenue of $670 million compare to last year's figures?

Understanding revenue growth or decline will provide insights into the company's market position and overall health.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be overly pessimistic, as the recent focus on profitability could lead to a surprise in EPS if cost-cutting measures have been effective.

Supporting Evidence

The company has a history of surprising on the upside when expectations are low.

Recent trends in sponsorship and viewership may indicate stronger revenue than anticipated.

Key Risk

If the EPS comes in better than $-0.02, it could shift market sentiment significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it follows a series of earnings misses, and investors are looking for signs of recovery.

Bull Confirmed If

An EPS of $0.07 or better, along with revenue exceeding $726 million, would confirm the bull case.

Bear Confirmed If

An EPS of $-0.16 or worse, with revenue falling below $570 million, would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±12.06%

The options market is pricing in a significant move, indicating that investors are anticipating volatility around the earnings announcement.

Detail

ATM IV

0.3%

30d HV

27.0%

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

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss setup in Communication Services

n=30

Fade rate: 16 of 30 (53%)

This setup has occurred 30 times across Communication Services in the last 2 years. 16 of 30 faded and 14 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.4%, with a raw directional average of -0.6% (modestly negative historical bias).

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

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await clearer guidance.

Miss

A miss could lead to a decline of approximately 2.91%, reinforcing concerns about the company's performance.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-TXAugust Lee Pfluger IIRep.
0

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on sponsorship deals or partnerships that could enhance revenue.
2Insights into viewership trends and their impact on future earnings.
3Management's commentary on cost-cutting measures and their effectiveness.
4Any guidance on upcoming races and their expected financial impact.
5Responses to questions about competitive pressures in the entertainment sector.

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

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and is closely watched by investors.

$-0.02

Revenue

Revenue figures provide insight into the company's overall performance and growth potential.

$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

Bull Case

If the company can exceed revenue expectations and show signs of profitability, it could restore investor confidence and drive the stock higher.

Bear Case

Conversely, if the company reports a larger-than-expected loss or lower revenue, it may lead to further declines in stock price, especially given the recent history of earnings misses.

Key Metrics to Watch

Earnings Per Share (EPS)

$-0.02

EPS is a key indicator of a company's profitability and is closely watched by investors.

Revenue

$670M

Revenue figures provide insight into the company's overall performance and growth potential.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $-0.02?

A better-than-expected EPS could signal a turnaround in profitability, which is crucial for restoring investor confidence.

How does the revenue of $670 million compare to last year's figures?

Understanding revenue growth or decline will provide insights into the company's market position and overall health.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be overly pessimistic, as the recent focus on profitability could lead to a surprise in EPS if cost-cutting measures have been effective.

Supporting Evidence

The company has a history of surprising on the upside when expectations are low.

Recent trends in sponsorship and viewership may indicate stronger revenue than anticipated.

Key Risk

If the EPS comes in better than $-0.02, it could shift market sentiment significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it follows a series of earnings misses, and investors are looking for signs of recovery.

Bull Confirmed If

An EPS of $0.07 or better, along with revenue exceeding $726 million, would confirm the bull case.

Bear Confirmed If

An EPS of $-0.16 or worse, with revenue falling below $570 million, would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±12.06%

The options market is pricing in a significant move, indicating that investors are anticipating volatility around the earnings announcement.

Detail

ATM IV

0.3%

30d HV

27.0%

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

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss setup in Communication Services

n=30

Fade rate: 16 of 30 (53%)

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

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await clearer guidance.

Miss

A miss could lead to a decline of approximately 2.91%, reinforcing concerns about the company's performance.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-TXAugust Lee Pfluger IIRep.
0

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on sponsorship deals or partnerships that could enhance revenue.
2Insights into viewership trends and their impact on future earnings.
3Management's commentary on cost-cutting measures and their effectiveness.
4Any guidance on upcoming races and their expected financial impact.
5Responses to questions about competitive pressures in the entertainment sector.