Atlanta Braves Holdings - C

Q2 FY2026 EarningsQ2 FY26 results presented a mixed performance against consensus, characterized by a substantial top-line beat but significant bottom-line misses. Total revenue reached $934M, exceeding the $313.6M consensus by 197.87%, driven by the integration of MotoGP and resilient Formula 1 pricing. However, EBIT of $88M missed the $21.7M expected mean (when adjusted for reportable segments), and GAAP Net Income of $5M fell significantly short of the $19.8M expectation due to high effective tax rates (76%) and interest expense. The divergence highlights the complexities of the MotoGP acquisition and the pro-rata impact of the F1 race calendar.