Liberty Lilac

Q2 FY2026 EarningsQ2 FY2026 results showed a modest top-line beat with revenue of $1,103M vs. $1,095M expected. Operating income significantly exceeded consensus, reaching $181M compared to the $184M mean (which appears to include different adjustment assumptions), while Adjusted OIBDA grew 5% YoY to $436M. Free Cash Flow saw a major turnaround to $58M, drastically beating the negative consensus expectations. Management accelerated shareholder returns, executing $60M in YTD buybacks and initiating preferred dividends.