Equity Profile

FWONK

Formula One Group

Communication ServicesMovies & Entertainment$26.0B

May7Thu

Pre-Earnings Brief

UpcomingQ1-2026Pre-Market9:00 AM EDT

Company Snapshot

Formula One Group (FWONK) is a leading sports and entertainment company that operates the Formula One racing series. With a market cap of $26 billion, it plays a significant role in the communication services sector, particularly in movies and entertainment, as it attracts global audiences and sponsors.

Key Metrics to Watch

EPS

Earnings per share (EPS) is crucial for understanding the company's profitability and how it compares to analyst expectations.

$-0.01

Revenue

Revenue figures indicate the company's overall sales performance and growth potential, especially in a competitive entertainment market.

$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 company has struggled to meet earnings expectations recently.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about this quarter, expecting a slight loss in EPS but stable revenue. The market is watching closely for any signs of recovery in profitability.

Bull Case

If the company can exceed the EPS estimate and show strong revenue growth, it could signal a turnaround and boost investor confidence.

Bear Case

Conversely, if the company misses earnings expectations again, it may raise concerns about its long-term profitability and competitive position.

Key Metrics to Watch

EPS

$-0.01

Earnings per share (EPS) is crucial for understanding the company's profitability and how it compares to analyst expectations.

Revenue

$670M

Revenue figures indicate the company's overall sales performance and growth potential, especially in a competitive entertainment market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS exceed the consensus estimate of $-0.01?

A positive EPS surprise could indicate improved profitability and help restore investor confidence after recent misses.

What revenue figures will the company report, particularly in relation to the $670M consensus?

Strong revenue performance is essential for demonstrating growth potential and attracting sponsorships, which are crucial for the business.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a recovery in viewership and sponsorship revenues, which could lead to better-than-expected results this quarter.

Supporting Evidence

The recent trends in global sports viewership suggest a rebound in interest, particularly in major events like Formula One.

The options market is pricing in a significant move, indicating that investors are bracing for surprises, which could favor a positive outcome.

Key Risk

If the company reports revenue significantly above $726M, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results are critical as they may indicate whether the company can recover from its recent earnings misses and regain investor trust.

Bull Confirmed If

An EPS of $0.07 or better, coupled with revenue exceeding $726M, would confirm a bullish outlook.

Bear Confirmed If

An EPS worse than $-0.11 and revenue below $570M would reinforce bearish sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±5.9%

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

Detail

30d HV

27.1%

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

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 FWONK beats earnings expectations, history suggests a potential average 1-day move of around 2.91%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss on earnings could lead to a decline, with historical patterns indicating an average drop of about 2.91% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on sponsorship deals or partnerships that could impact revenue.
2Insights into viewership trends and how they may affect future earnings.
3Management's commentary on cost control measures and profitability improvements.
4Details on any new initiatives or changes in strategy to enhance fan engagement.
5Guidance on future quarters and expectations for the rest of the fiscal year.

See the full picture

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share (EPS) is crucial for understanding the company's profitability and how it compares to analyst expectations.

$-0.01

Revenue

Revenue figures indicate the company's overall sales performance and growth potential, especially in a competitive entertainment market.

$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

Analysts are cautiously optimistic about this quarter, expecting a slight loss in EPS but stable revenue. The market is watching closely for any signs of recovery in profitability.

Bull Case

If the company can exceed the EPS estimate and show strong revenue growth, it could signal a turnaround and boost investor confidence.

Bear Case

Conversely, if the company misses earnings expectations again, it may raise concerns about its long-term profitability and competitive position.

Key Metrics to Watch

EPS

$-0.01

Earnings per share (EPS) is crucial for understanding the company's profitability and how it compares to analyst expectations.

Revenue

$670M

Revenue figures indicate the company's overall sales performance and growth potential, especially in a competitive entertainment market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS exceed the consensus estimate of $-0.01?

A positive EPS surprise could indicate improved profitability and help restore investor confidence after recent misses.

What revenue figures will the company report, particularly in relation to the $670M consensus?

Strong revenue performance is essential for demonstrating growth potential and attracting sponsorships, which are crucial for the business.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a recovery in viewership and sponsorship revenues, which could lead to better-than-expected results this quarter.

Supporting Evidence

The recent trends in global sports viewership suggest a rebound in interest, particularly in major events like Formula One.

The options market is pricing in a significant move, indicating that investors are bracing for surprises, which could favor a positive outcome.

Key Risk

If the company reports revenue significantly above $726M, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results are critical as they may indicate whether the company can recover from its recent earnings misses and regain investor trust.

Bull Confirmed If

An EPS of $0.07 or better, coupled with revenue exceeding $726M, would confirm a bullish outlook.

Bear Confirmed If

An EPS worse than $-0.11 and revenue below $570M would reinforce bearish sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±5.9%

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

Detail

30d HV

27.1%

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

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 FWONK beats earnings expectations, history suggests a potential average 1-day move of around 2.91%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss on earnings could lead to a decline, with historical patterns indicating an average drop of about 2.91% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on sponsorship deals or partnerships that could impact revenue.
2Insights into viewership trends and how they may affect future earnings.
3Management's commentary on cost control measures and profitability improvements.
4Details on any new initiatives or changes in strategy to enhance fan engagement.
5Guidance on future quarters and expectations for the rest of the fiscal year.