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Sep 30, 2021
Endeavor Q3 2021 Earnings Report
Endeavor's Q3 2021 financial results were released, demonstrating growth and recovery from the pandemic's impact.
Key Takeaways
Endeavor reported a strong Q3 2021 with revenue of $1.4 billion and a net income of $63.6 million. The company benefited from the increased demand for premium content and live events as the pandemic's impact lessened. Increased revenue guidance for 2021 was also announced.
Delivered best nine-month, year-to-date period in UFC history.
Representation revenue increased significantly due to the resumption of productions and touring events, and increased brand spending.
Announced the intended acquisition of OpenBet to integrate with the Company’s IMG ARENA business.
Increased 2021 revenue and adjusted EBITDA guidance.
Forward Guidance
Endeavor increased its full year 2021 revenue and adjusted EBITDA guidance.
Positive Outlook
- Revenue is expected to be between $4.89 and $4.95 billion
- Adjusted EBITDA is expected to be between $835 and $845 million
- Capitalizing on the elevated demand for premium content
- Capitalizing on the elevated demand for live events
- Unique positioning within the sports and entertainment industry
Challenges Ahead
- Impact of the COVID-19 global pandemic on Endeavor’s business
- Changes in public and consumer tastes and preferences and industry trends
- Dependence on key relationships with television and cable networks
- Dependence on key relationships with satellite providers
Historical Earnings Impact
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Avg. Return Before/After Earnings
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