Equity Profile

FWONK

Formula One Group

Communication ServicesMovies & Entertainment$22.8B

Aug6Thu

Pre-Earnings Brief

UpcomingQ3-2024Pre-Market9:00 AM EDT

Company Snapshot

Formula One Group (FWONK) is a leading organization in the movies and entertainment sector, primarily known for its global motorsport events. With a market cap of $23 billion, it plays a significant role in the sports entertainment industry, attracting millions of viewers and substantial sponsorship revenue.

Key Metrics to Watch

EPS

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

$-0.02

Revenue

Revenue figures will indicate the company's ability to generate income from its events and media rights, which is vital for growth.

$670M

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

FWONK Q3-2024 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 Q2 2024, Formula One reported an EPS of $0.08, significantly missing the expected $0.32, which led to a 5.12% drop in stock price the following day. The company did not provide specific revenue figures for the quarter.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Formula One's upcoming earnings, with expectations for a slight loss in EPS and moderate revenue growth. The company has struggled with earnings surprises in recent quarters.

Bull Case

If Formula One can exceed revenue expectations and show signs of profitability, it may signal a recovery in viewer engagement and sponsorship deals, boosting investor confidence.

Bear Case

Conversely, if the company reports a larger-than-expected loss or lower revenue, it may indicate ongoing challenges in the business, leading to further declines in stock price.

Key Metrics to Watch

EPS

$-0.02

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

Revenue

$670M

Revenue figures will indicate the company's ability to generate income from its events and media rights, which is vital for growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-0.02?

A better-than-expected EPS could signal improved operational efficiency and profitability, which the market will closely watch.

What are the revenue figures compared to the consensus of $670M?

Revenue performance will be critical in assessing the company's growth trajectory and ability to attract viewers and sponsors.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the potential for Formula One to rebound from its recent earnings misses, as increased global interest in motorsports could drive higher revenues than anticipated.

Supporting Evidence

Despite recent misses, Formula One has a strong brand and loyal fanbase that could translate into increased revenue.

The options market indicates a significant potential move, suggesting that traders are anticipating a surprise in either direction.

Key Risk

If revenue comes in above $726M, it could invalidate the current bearish sentiment and suggest a stronger recovery.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Formula One can recover from recent earnings misses and demonstrate growth in a competitive entertainment landscape.

Bull Confirmed If

Revenue exceeding $726M would confirm the bull case, indicating strong demand and operational success.

Bear Confirmed If

Revenue falling below $570M would confirm the bear case, suggesting ongoing struggles in viewer engagement and sponsorship.

Pre-Earnings Positioning

Options Market

Implied Move

±12.1%

The options market is pricing in a significant potential move in either direction, reflecting uncertainty around the earnings report.

Detail

ATM IV

0.3%

30d HV

27.0%

Calls (700)P/C Ratio: 47.14Puts (33K)

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 by about 2.91%, confirming a potential turnaround in performance.

In-Line / Cautious

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

Miss

If the company misses expectations, history suggests a decline of around 2.91%, reinforcing concerns about its financial health.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-TXAugust Lee Pfluger IIRep.
0

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on viewer engagement metrics and how they are impacting revenue.
2Details on sponsorship deals and partnerships that could enhance revenue streams.
3Management's outlook on future races and events, particularly in emerging markets.
4Insights into cost management strategies that could improve profitability.

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 is crucial for understanding the company's profitability and how it compares to analyst expectations.

$-0.02

Revenue

Revenue figures will indicate the company's ability to generate income from its events and media rights, which is vital for growth.

$670M

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

FWONK Q3-2024 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

If Formula One can exceed revenue expectations and show signs of profitability, it may signal a recovery in viewer engagement and sponsorship deals, boosting investor confidence.

Bear Case

Conversely, if the company reports a larger-than-expected loss or lower revenue, it may indicate ongoing challenges in the business, leading to further declines in stock price.

Key Metrics to Watch

EPS

$-0.02

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

Revenue

$670M

Revenue figures will indicate the company's ability to generate income from its events and media rights, which is vital for growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-0.02?

A better-than-expected EPS could signal improved operational efficiency and profitability, which the market will closely watch.

What are the revenue figures compared to the consensus of $670M?

Revenue performance will be critical in assessing the company's growth trajectory and ability to attract viewers and sponsors.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the potential for Formula One to rebound from its recent earnings misses, as increased global interest in motorsports could drive higher revenues than anticipated.

Supporting Evidence

Despite recent misses, Formula One has a strong brand and loyal fanbase that could translate into increased revenue.

The options market indicates a significant potential move, suggesting that traders are anticipating a surprise in either direction.

Key Risk

If revenue comes in above $726M, it could invalidate the current bearish sentiment and suggest a stronger recovery.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Formula One can recover from recent earnings misses and demonstrate growth in a competitive entertainment landscape.

Bull Confirmed If

Revenue exceeding $726M would confirm the bull case, indicating strong demand and operational success.

Bear Confirmed If

Revenue falling below $570M would confirm the bear case, suggesting ongoing struggles in viewer engagement and sponsorship.

Pre-Earnings Positioning

Options Market

Implied Move

±12.1%

The options market is pricing in a significant potential move in either direction, reflecting uncertainty around the earnings report.

Detail

ATM IV

0.3%

30d HV

27.0%

Calls (700)P/C Ratio: 47.14Puts (33K)

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 by about 2.91%, confirming a potential turnaround in performance.

In-Line / Cautious

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

Miss

If the company misses expectations, history suggests a decline of around 2.91%, reinforcing concerns about its financial health.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-TXAugust Lee Pfluger IIRep.
0

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on viewer engagement metrics and how they are impacting revenue.
2Details on sponsorship deals and partnerships that could enhance revenue streams.
3Management's outlook on future races and events, particularly in emerging markets.
4Insights into cost management strategies that could improve profitability.