Equity Profile

FWONK

Formula One Group

Communication ServicesMovies & Entertainment$25.0B

May7Thu

Pre-Earnings Brief

UpcomingQ1-2026Pre-Market9:00 AM EDT

Company Snapshot

Formula One Group (FWONK) is a leading organization in the motorsport industry, primarily known for its Formula One racing events. As part of the Communication Services sector, it plays a significant role in entertainment and media, attracting millions of fans worldwide and generating substantial revenue through broadcasting rights, sponsorships, and ticket sales.

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of profitability and will show how well the company is managing its expenses relative to its revenue.

$-0.01

Revenue

Revenue figures will provide insight into the overall business performance and demand for Formula One events, especially in the context of global economic conditions.

$670M

Wall Street expectations, options signals, track record, and call prep available with Pro.

FWONK Q1-2026 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 the last quarter, Formula One Group reported an EPS of $0.08, which was significantly below the expected $0.32, leading to a 5.12% drop in stock price the following day. The disappointing results raised concerns about the company's ability to meet growth expectations.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about the upcoming earnings, with expectations of a slight loss in EPS but a solid revenue figure. The market is closely watching how the company navigates its financial challenges amidst rising costs and competition.

Bull Case

If Formula One can exceed revenue expectations and show signs of profitability, it could indicate strong demand for its events and a recovery in its financial performance, potentially boosting investor confidence.

Bear Case

Conversely, if the company fails to meet revenue expectations or reports a larger-than-expected loss, it could signal deeper issues within the business, leading to further declines in stock price.

Key Metrics to Watch

EPS

$-0.01

Earnings per share (EPS) is a key indicator of profitability and will show how well the company is managing its expenses relative to its revenue.

Revenue

$670M

Revenue figures will provide insight into the overall business performance and demand for Formula One events, especially in the context of global economic conditions.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-0.01?

A better-than-expected EPS could indicate improved operational efficiency and cost management, which is crucial for restoring investor confidence.

How does the revenue of $670M compare to previous quarters and what factors are influencing this figure?

Understanding the revenue drivers will help gauge the company's market position and growth potential in the competitive entertainment landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be underestimating the potential for a revenue surprise due to increased global interest in Formula One, especially in emerging markets.

Supporting Evidence

Recent trends show a growing fan base and increased ticket sales in key markets.

The company has historically outperformed expectations during high-profile race events, which could drive revenue higher than anticipated.

Key Risk

If the company reports revenue below $570M, it could validate bearish sentiment and lead to a significant sell-off.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will reflect the company's ability to rebound from previous disappointments and meet market expectations.

Bull Confirmed If

Revenue exceeding $726M would confirm strong demand and operational success.

Bear Confirmed If

Revenue falling below $570M would indicate significant challenges in the business.

Pre-Earnings Positioning

Options Market

Implied Move

±5.9%

The options market is pricing in a potential move of nearly 6% in either direction, indicating uncertainty about the upcoming earnings report.

Detail

30d HV

27.1%

Calls (600)P/C Ratio: 4.00Puts (8K)

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 beats expectations, history suggests the stock could rise significantly, potentially around 3% on the first day.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction, reflecting ongoing investor caution.

Miss

A miss could lead to a decline of around 2.91%, as seen in previous quarters where expectations were not met.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on ticket sales and attendance figures for upcoming races.
2Insights into sponsorship deals and partnerships that could impact revenue.
3Management's commentary on cost management strategies and operational efficiencies.
4Trends in viewership and broadcasting rights revenue, especially in new markets.
5Any guidance on future events and their expected financial impact.

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

EPS

Earnings per share (EPS) is a key indicator of profitability and will show how well the company is managing its expenses relative to its revenue.

$-0.01

Revenue

Revenue figures will provide insight into the overall business performance and demand for Formula One events, especially in the context of global economic conditions.

$670M

Wall Street expectations, options signals, track record, and call prep available with Pro.

FWONK Q1-2026 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

Bear Case

Conversely, if the company fails to meet revenue expectations or reports a larger-than-expected loss, it could signal deeper issues within the business, leading to further declines in stock price.

Key Metrics to Watch

EPS

$-0.01

Earnings per share (EPS) is a key indicator of profitability and will show how well the company is managing its expenses relative to its revenue.

Revenue

$670M

Revenue figures will provide insight into the overall business performance and demand for Formula One events, especially in the context of global economic conditions.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-0.01?

A better-than-expected EPS could indicate improved operational efficiency and cost management, which is crucial for restoring investor confidence.

How does the revenue of $670M compare to previous quarters and what factors are influencing this figure?

Understanding the revenue drivers will help gauge the company's market position and growth potential in the competitive entertainment landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be underestimating the potential for a revenue surprise due to increased global interest in Formula One, especially in emerging markets.

Supporting Evidence

Recent trends show a growing fan base and increased ticket sales in key markets.

The company has historically outperformed expectations during high-profile race events, which could drive revenue higher than anticipated.

Key Risk

If the company reports revenue below $570M, it could validate bearish sentiment and lead to a significant sell-off.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will reflect the company's ability to rebound from previous disappointments and meet market expectations.

Bull Confirmed If

Revenue exceeding $726M would confirm strong demand and operational success.

Bear Confirmed If

Revenue falling below $570M would indicate significant challenges in the business.

Pre-Earnings Positioning

Options Market

Implied Move

±5.9%

The options market is pricing in a potential move of nearly 6% in either direction, indicating uncertainty about the upcoming earnings report.

Detail

30d HV

27.1%

Calls (600)P/C Ratio: 4.00Puts (8K)

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 beats expectations, history suggests the stock could rise significantly, potentially around 3% on the first day.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction, reflecting ongoing investor caution.

Miss

A miss could lead to a decline of around 2.91%, as seen in previous quarters where expectations were not met.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on ticket sales and attendance figures for upcoming races.
2Insights into sponsorship deals and partnerships that could impact revenue.
3Management's commentary on cost management strategies and operational efficiencies.
4Trends in viewership and broadcasting rights revenue, especially in new markets.
5Any guidance on future events and their expected financial impact.