Endeavor(EDR) - 2023 Q4 - Earnings Call Transcript

Financial Data and Key Metrics Changes - For Q4 2023, the company generated $1.58 billion in consolidated revenue, an increase of$322.3 million or 26% compared to Q4 2022 [30] - Adjusted EBITDA for Q4 was $292.8 million, up$53.2 million or 22% [30] - For the full year, revenue reached $5.96 billion, up$692 million or 13%, while adjusted EBITDA was $1.216 billion, an increase of$52 million or 5% [30][32] - The net loss for Q4 was $29.3 million, a significant improvement from a net loss of$225.7 million a year ago [31] - Full year net income was $557.5 million, compared to$321.7 million in the previous year [32] Business Line Data and Key Metrics Changes - The Owned Sports Properties segment generated $642.8 million in revenue for Q4, up$341.3 million or 113%, with adjusted EBITDA of $224.7 million, an increase of 58$414.5 million in Q4, down 8%, with adjusted EBITDA of $13.7 million, down 55$427.4 million in Q4, up 5%, but adjusted EBITDA decreased by 17% [37] - Sports Data and Technology segment revenue for Q4 was $113.6 million, up 5$1.25 billion [11] - The Miami Open and Madrid Open achieved record attendance in 2023, with 386,000 and 325,000 fans respectively [18][19] - The company has expanded its presence in the art fair sector through acquisitions [17] Q&A Session Summary Question: What are the expectations for the integration of TKO? - Management expects continued progress in integrating TKO, leveraging synergies to unlock value [42] Question: How is the company addressing the impact of strikes in the representation segment? - The company is focused on recovery in the TV and film industry post-strikes, with growth anticipated in sports and music divisions [45]