Liberty Media Corp-Liberty Formula One - C

Q2 FY2026 EarningsFWONK Q2 FY26 results missed consensus on the top-line, with revenue of $934M vs. $958.2M expected. Despite the revenue miss, profitability metrics were strong as EBIT of $139M (calculated as Adjusted OIBDA minus D&A) slightly beat the $139.8M consensus when adjusting for consolidated segments. The variance was primarily driven by Formula 1 calendar shifts (5 races vs. 9 YoY), partially offset by the full-quarter inclusion of MotoGP. Management reported high cash generation with $673M in CFO for H1, significantly exceeding the $212.8M quarterly mean estimate.