TKO Group Stock Price, News & Analysis

UFC 306 at RIYADH SEASON NOCHE UFC, held on September 14 at Sphere in Las Vegas, set multiple records, including the highest-grossing UFC event ever with a $22 million gate and a sold-out crowd of 16,024. The event also marked the highest-grossing single event at Sphere.

Notable achievements include:

• Highest-grossing sponsorship sales for a UFC event
• First UFC event with a title partner (Riyadh Season)
• Record merchandise sales and per-cap for both UFC and Sphere
• 89% of ticket buyers from outside Nevada

The event featured innovative technology, including live fighter heart rate tracking, novel Octagon lighting, and haptic seats. It also showcased a premiere film, 'For Mexico, For All Time', celebrating Mexican culture and history.

WekaIO Inc. (WEKA) has been named the official partner for UFC 306 AT RIYADH SEASON NOCHE UFC at Sphere Las Vegas on September 14th. This event marks the first live sporting event at Sphere, celebrating Mexican Independence Day and honoring Mexican fighters' contributions to combat sports. The WEKA Data Platform will power the event's data management and infrastructure needs.

Silent House Productions, partnering with UFC, required a solution to handle the rendering of hundreds of terabytes of native 12K video for display on Sphere's 16K x 16K resolution screen. WEKA was chosen due to its successful track record with previous Sphere events and its ability to meet the demanding performance and scale requirements.

The event will feature six hours of live MMA action and an immersive film with six chapters from award-winning filmmakers, presenting unique production challenges in this groundbreaking venue.

Endeavor Group Holdings (NYSE: EDR), a global sports and entertainment company, has announced a Q3 2024 cash dividend of approximately $27 million. Class A common stockholders will receive $0.06 per share, payable on September 30, 2024, to shareholders of record as of September 16, 2024. The company notes that future dividend declarations are subject to various factors, including financial conditions, market conditions, and legal requirements. Additionally, Endeavor mentions a merger agreement with Silver Lake that requires quarterly dividend payments of $0.06 per share for each outstanding Class A common stock prior to closing.

TKO Group Holdings (NYSE: TKO), a premium sports and entertainment company, has announced its participation in the Goldman Sachs Communacopia & Technology Conference. The company's President and COO, Mark Shapiro, will represent TKO at the event on September 11, 2024, at 1:50 p.m. Eastern Time in San Francisco, CA.

Investors and interested parties can access a live stream of the session, as well as a replay available for at least 30 days, through the company's investor relations website at investor.tkogrp.com. This participation provides an opportunity for TKO to showcase its position in the sports and entertainment industry and engage with investors and analysts.

Endeavor Group Holdings (NYSE: EDR) reported its Q2 2024 financial results, showing revenue of $1.751 billion and an Adjusted EBITDA of $380.7 million. The company experienced growth across its Owned Sports Properties segment, driven by successful events like WrestleMania 40 and UFC 300. The Representation segment also showed strength due to recovery following industry strikes. However, the company reported a net loss of $253.8 million.

Notably, Endeavor is in the process of being acquired by Silver Lake in a take-private transaction, expected to close by Q1 2025. As part of this deal, the company plans to divest its Sports Data & Technology segment. Endeavor's cash and cash equivalents stood at $697.7 million, with total debt at $5.073 billion as of June 30, 2024.

TKO Group Holdings reported record second-quarter 2024 financial results with revenue rising 179% to $851.2M, and net income increasing to $150.7M. Adjusted EBITDA also hit a record $420.9M. The company raised its full-year 2024 guidance for revenue to $2.670B-$2.745B and Adjusted EBITDA to $1.220B-$1.240B.

The increase in revenue was driven by higher contributions from both UFC and WWE, with UFC reporting a 29% increase to $394.4M, and WWE contributing $456.8M.

However, operating expenses also rose significantly, with direct operating costs up by $177M, SG&A expenses up by $169.1M, and depreciation and amortization up by $88.8M. TKO's gross debt stood at $2.744B, with cash and cash equivalents at $277.5M.

Additionally, TKO repurchased 1.9M shares for $165M in Q2 2024.

Aires Tech and WWE, part of TKO Group Holdings (NYSE: TKO), have announced a multi-year global marketing partnership. The collaboration aims to educate fans about electromagnetic frequency (EMF) protection and support WWE Superstars in enhancing their performance and recovery. Aires Tech will be featured across WWE properties, including 'WWE NOW' and 'Celtic Warrior Workouts' on Sheamus's YouTube channel.

The partnership, effective from June 11 through the end of 2025, will be visible at WWE SummerSlam on August 3. This agreement follows Aires Tech's partnership with UFC earlier this year. Aires Tech's CEO, Josh Bruni, emphasized the importance of raising awareness about EMF's potential health effects. The company has also partnered with Canada Basketball and individual athletes as part of their #AiresAthletes campaign.

Bojangles, the Carolina-born restaurant chain, announces the return of its BBQ Pulled Pork Sandwich for a time. In partnership with WWE, Bojangles is offering exclusive collectible cups featuring legendary WWE Tag Teams with the purchase of a WWE Sandwich Combo throughout July.

The promotion includes four designs showcasing The Brothers of Destruction, The Outsiders, The Hart Foundation, and The Dudley Boyz. The WWE sandwich lineup also features the Bo's Chicken Sandwich and Grilled Chicken Sandwich. Bojangles is also offering a -time Peach Cobbler dessert to complement the meal.

Endeavor Group Holdings (NYSE: EDR) will release its Q2 2024 financial results on August 8, 2024, before market hours.

Due to an ongoing acquisition by Silver Lake, the company will not hold an earnings conference call.

Investors can access the earnings release and presentation materials on Endeavor’s investor relations website.