Q3 Earnings Roundup: Live Nation (NYSE:LYV) And The Rest Of The Leisure Facilities Segment

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how leisure facilities stocks fared in Q3, starting with Live Nation (NYSE:LYV).

Leisure facilities companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted their spending from "things" to "experiences". Leisure facilities seek to benefit but must innovate to do so because of the industry's high competition and capital intensity.

The 11 leisure facilities stocks we track reported a satisfactory Q3. As a group, revenues missed analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 0.6% below.

Thankfully, share prices of the companies have been resilient as they are up 9.2% on average since the latest earnings results.

Live Nation (NYSE:LYV)

Owner of Ticketmaster and operator of music festival EDC, Live Nation (NYSE:LYV) is a company specializing in live event promotion, venue management, and ticketing services for concerts and shows.

Live Nation reported revenues of $8.50 billion, up 11.1% year on year. This print fell short of analysts’ expectations by 0.9%, but it was still a satisfactory quarter for the company with an impressive beat of analysts’ adjusted operating income estimates but a miss of analysts’ events estimates.

Unsurprisingly, the stock is down 3.4% since reporting and currently trades at $145.57.

Is now the time to buy Live Nation? Access our full analysis of the earnings results here, it’s free.

Best Q3: AMC Entertainment (NYSE:AMC)

With a profile that was raised due to meme stock mania beginning in 2021, AMC Entertainment (NYSE:AMC) operates movie theaters primarily in the US and Europe.

AMC Entertainment reported revenues of $1.3 billion, down 3.6% year on year, outperforming analysts’ expectations by 6.3%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

AMC Entertainment achieved the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 34.5% since reporting. It currently trades at $1.65.

Is now the time to buy AMC Entertainment? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: United Parks & Resorts (NYSE:PRKS)

Parent company of SeaWorld and home of the world-famous Shamu, United Parks & Resorts (NYSE:PRKS) is a theme park chain featuring marine life, live entertainment, roller coasters, and waterparks.

United Parks & Resorts reported revenues of $511.9 million, down 6.2% year on year, falling short of analysts’ expectations by 5.2%. It was a disappointing quarter as it posted a miss of analysts’ visitors estimates and a significant miss of analysts’ revenue estimates.

As expected, the stock is down 19% since the results and currently trades at $37.43.

Read our full analysis of United Parks & Resorts’s results here.

Planet Fitness (NYSE:PLNT)

Founded by two brothers who purchased a struggling gym, Planet Fitness (NYSE:PLNT) is a gym franchise that caters to casual fitness users by providing a friendly and inclusive atmosphere.

Planet Fitness reported revenues of $330.3 million, up 13% year on year. This number beat analysts’ expectations by 2%. It was a strong quarter as it also put up an impressive beat of analysts’ adjusted operating income estimates and a narrow beat of analysts’ same-store sales estimates.

The stock is up 16.5% since reporting and currently trades at $106.86.

Read our full, actionable report on Planet Fitness here, it’s free.

Xponential Fitness (NYSE:XPOF)

Owner of CycleBar, Rumble, and Club Pilates, Xponential Fitness (NYSE:XPOF) is a boutique fitness brand offering diverse and specialized exercise experiences.

Xponential Fitness reported revenues of $78.82 million, down 2.1% year on year. This result surpassed analysts’ expectations by 3.9%. Overall, it was a very strong quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 32% since reporting and currently trades at $8.32.

Read our full, actionable report on Xponential Fitness here, it’s free.

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