Endeavor’s sales grew 38% to nearly $ 1.5 billion in the first quarter of 2022, and on Thursday the company announced net income of $ 518 million, thanks to growth in talent representation and live events. EPS was $ 1.19 per quarter, ending March, a year after the IPO announcement of a talent agency, UFC owner and live event operator.
Its stocks have been flat until recently, due to major market turmoil and new fluctuations around the streaming economy. The market contracted today, climbing 1.83% and closing at $ 18.35.
The company cited customer demand for premium content and live events, including comedy updates and concert tours that have been hit hard by Covid. Representative segment revenue of $ 357 million increased 44% and Adjusted EBITDA, a sort of operating income, increased 65% to $ 102 million.
Revenues from events, experiences and rights increased by $ 826 million, up 53%, thanks to the return to full capacity of more direct events, including Super Bowl LVI, Miami Open, NCAA Final Four and Frieze LA, in addition to $ 38 million in acquisition revenue. NCSA. Adjusted EBITDA increased $ 132.5 million to $ 93 million, or 239%, year over year.
High-profile UFC, in the sports facilities segment, saw a 5% increase in sales to $ 297 million in sponsorship, licensing, commercial PPV and event revenue for the UFC, offset by one less PPV event per quarter from last year. period, as well as more popular PBR events. Adjusted EBITDA rose $ 149 million, up 2%, reflecting Diamond Baseball Holdings’ off-season spending, the company said.
Endeavor increased its 2022 revenue guidance to $ 5.2-5.47 billion and increased its Adjusted EBITDA guidance from $ 1.1 to $ 1.15 billion.
“Our growth in the first quarter was driven by our ability to respond to the high demand for premium content and live events,” said CEO Ariel Emanuel. “We feel great about where we are sitting compared to the age-old winds in all of our businesses.”
The company ended the quarter with $ 2 billion in cash and $ 5.7 billion in debt.
Executives make a call at 5 p.m. ET to discuss the numbers and outlook.
Source: Deadline
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