Equity Profile

FWONK

Formula One Group

Communication ServicesMovies & Entertainment$25.0B

Aug6Thu

Pre-Earnings Brief

UpcomingQ3-2024Pre-Market9:00 AM EDT

Company Snapshot

Formula One Group (FWONK) is a leading motorsport organization that manages the Formula One racing series, a global phenomenon in entertainment and sports. As part of the Communication Services sector, it plays a significant role in the movies and entertainment industry, leveraging its brand to attract viewers and sponsors worldwide.

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability, and this quarter's consensus shows a potential loss, which could impact investor sentiment.

$-0.02

Revenue

Revenue figures will provide insight into the company's ability to generate income from its events and partnerships, especially in a competitive entertainment landscape.

$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 below the expected $0.32, leading to a 5.12% drop in stock price the following day. The revenue figures were not disclosed, but the earnings miss raised concerns about the company's performance.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about this quarter's earnings, with expectations of a slight loss in EPS and moderate revenue. The market will be watching closely for any signs of recovery or continued struggles.

Bull Case

If the company can exceed the EPS expectations and show strong revenue growth, it could indicate a rebound in viewer engagement and sponsorship revenue, boosting investor confidence.

Bear Case

Conversely, if the company reports a larger loss than expected or lower revenue, it could signal ongoing challenges in attracting audiences and sponsors, leading to further declines in stock price.

Key Metrics to Watch

EPS

$-0.02

Earnings per share is a key indicator of profitability, and this quarter's consensus shows a potential loss, which could impact investor sentiment.

Revenue

$670M

Revenue figures will provide insight into the company's ability to generate income from its events and partnerships, especially in a competitive entertainment landscape.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $-0.02?

A better-than-expected EPS could signal a turnaround in profitability and boost investor confidence.

What is the revenue figure relative to the consensus of $670M?

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

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for a rebound in viewer engagement and sponsorship revenues, which could lead to better-than-expected results.

Supporting Evidence

The options market is pricing in a significant move, indicating that investors are bracing for surprises.

Recent historical performance shows that the company has previously exceeded expectations, suggesting potential upside.

Key Risk

If revenue exceeds $726M, it could challenge the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Formula One can recover from recent earnings misses and improve its financial performance.

Bull Confirmed If

An EPS of $0.07 or better, along with revenue exceeding $726M, would confirm a strong recovery.

Bear Confirmed If

An EPS loss greater than $-0.16 or revenue below $570M would indicate ongoing struggles.

Pre-Earnings Positioning

Options Market

Implied Move

±12.1%

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

Detail

ATM IV

0.3%

30d HV

27.0%

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

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 a potential stock increase around 2.91%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting continued uncertainty about future growth.

Miss

A miss could lead to a decline of around 2.91%, reinforcing bearish sentiment and concerns about the company's trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any commentary on viewer engagement metrics and sponsorship deals.
2Insights into cost management and operational efficiencies.
3Updates on new partnerships or initiatives to drive revenue.
4Management's outlook on the upcoming racing season and its impact on financials.
5Responses to questions about competitive pressures in the entertainment industry.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability, and this quarter's consensus shows a potential loss, which could impact investor sentiment.

$-0.02

Revenue

Revenue figures will provide insight into the company's ability to generate income from its events and partnerships, especially in a competitive entertainment landscape.

$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 the company can exceed the EPS expectations and show strong revenue growth, it could indicate a rebound in viewer engagement and sponsorship revenue, boosting investor confidence.

Bear Case

Conversely, if the company reports a larger loss than expected or lower revenue, it could signal ongoing challenges in attracting audiences and sponsors, leading to further declines in stock price.

Key Metrics to Watch

EPS

$-0.02

Earnings per share is a key indicator of profitability, and this quarter's consensus shows a potential loss, which could impact investor sentiment.

Revenue

$670M

Revenue figures will provide insight into the company's ability to generate income from its events and partnerships, especially in a competitive entertainment landscape.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $-0.02?

A better-than-expected EPS could signal a turnaround in profitability and boost investor confidence.

What is the revenue figure relative to the consensus of $670M?

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

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for a rebound in viewer engagement and sponsorship revenues, which could lead to better-than-expected results.

Supporting Evidence

The options market is pricing in a significant move, indicating that investors are bracing for surprises.

Recent historical performance shows that the company has previously exceeded expectations, suggesting potential upside.

Key Risk

If revenue exceeds $726M, it could challenge the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Formula One can recover from recent earnings misses and improve its financial performance.

Bull Confirmed If

An EPS of $0.07 or better, along with revenue exceeding $726M, would confirm a strong recovery.

Bear Confirmed If

An EPS loss greater than $-0.16 or revenue below $570M would indicate ongoing struggles.

Pre-Earnings Positioning

Options Market

Implied Move

±12.1%

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

Detail

ATM IV

0.3%

30d HV

27.0%

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

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 a potential stock increase around 2.91%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting continued uncertainty about future growth.

Miss

A miss could lead to a decline of around 2.91%, reinforcing bearish sentiment and concerns about the company's trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any commentary on viewer engagement metrics and sponsorship deals.
2Insights into cost management and operational efficiencies.
3Updates on new partnerships or initiatives to drive revenue.
4Management's outlook on the upcoming racing season and its impact on financials.
5Responses to questions about competitive pressures in the entertainment industry.