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Jun 30, 2024
Endeavor Q2 2024 Earnings Report
Endeavor's Q2 2024 financial results were released, revealing revenue growth driven by Owned Sports Properties and Representation segments, offset by a net loss due to discontinued operations.
Key Takeaways
Endeavor reported $1.751 billion in revenue for Q2 2024, with growth in Owned Sports Properties and Representation segments. The company experienced a net loss of $253.8 million, impacted by discontinued operations, while adjusted EBITDA reached $380.7 million.
Q2 2024 revenue reached $1.751 billion.
Owned Sports Properties segment experienced growth due to marquee live events and partnerships.
Representation segment benefited from recovery following WGA and SAG-AFTRA strikes and demand for music tours.
The company is progressing towards a take-private transaction with Silver Lake.
Forward Guidance
Endeavor is set to be acquired by Silver Lake, with stockholders receiving $27.50 per share in cash, and the transaction is expected to close by the end of the first quarter of 2025, pending customary conditions and approvals.
Positive Outlook
- Stockholders will receive $27.50 per share in cash.
- Silver Lake will acquire 100% of the outstanding shares it does not already own.
- No other stockholder approval is required.
- The merger agreement requires the Company to declare and pay a dividend of $0.06 per share each quarter.
- The transaction is expected to close by the end of the first quarter of 2025.
Challenges Ahead
- The transaction is subject to customary closing conditions.
- The transaction requires regulatory approvals.
- There are risks related to the potential transaction with Silver Lake.
- The company is exposed to changes in public and consumer tastes and preferences.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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