Endeavor Group Holdings, Inc. (NYSE:EDR) Q4 2023 Earnings Call Transcript
Endeavor Group Holdings, Inc. (NYSE:EDR) Q4 2023 Earnings Call Transcript February 28, 2024
Endeavor Group Holdings, Inc. misses on earnings expectations. Reported EPS is $0.06 EPS, expectations were $0.16. EDR isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Hello, and welcome to the Endeavor Fourth Quarter and Full Year 2023 Results Conference Call. I'll now hand it over to James Marsh, SVP and Head of Investor Relations. Please go ahead.
James Marsh: Good morning, and welcome to Endeavor's fourth quarter and full year 2023 earnings call. A short while ago, we issued a press release, which you can view on our Investor Relations site, investor.endeavorco.com. A recording of this call will also be available via that site for at least 30 days. Today, you will hear from Endeavor's CEO, Ariel Emanuel; and CFO, Jason Lublin. In light of our previously announced and ongoing review of strategic alternatives, we will not be taking questions following Ariel and Jason's prepared remarks. The purpose of this call is to provide you with the information regarding our fourth quarter and full year 2023 performance. I do want to remind everyone that the information discussed will include forward-looking statements and/or projections that involve risks, uncertainties and assumptions as well as described in the Risk Factors section of our filings with the Securities and Exchange Commission, including our 10-Qs and 10-K.
If these risks or uncertainties ever materialize or any assumptions prove inaccurate, our results may differ materially from those expressed or implied by such forward-looking statements and projections. Forward-looking statements speak only as of the date that they are made, and we undertake no obligation to update them publicly and let new information or future events, except as legally required. Our commentary today will also include non-GAAP financial measures, which we believe provide an additional tool for investors to use in evaluating ongoing operating results and trends. This measure should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP. Reconciliations between GAAP and non-GAAP metrics for our reported results can be found in our press release issued today as well as in the non-GAAP financial information posted on our IR website.
With that, I'll turn it over to our CEO, Ariel Emanuel.
Ariel Emanuel: Thanks, James, and good morning, everyone. 2023 marked a transformational year for Endeavor in ways that further cemented our leading positions in sports and entertainment and demonstrated the value we are creating for shareholders. We closed our acquisition of WWE launched TKO and immediately began leveraging the Endeavor flywheel to create synergies and unlock growth across areas, including media rights and partnerships. We strengthened and expanded our representation capabilities through strategic tuck-in acquisitions in sports, country music, literary and non-scripted content. We inked landmark sports rights deals at IMG and achieved new attendance milestones across our owned events portfolio. We sold IMG Academy at an enterprise value of $1.25 billion.
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