Liberty Formula One Set for Solid Q1 as Sponsorship Momentum, Margins Improve, UBS Says

MT Newswires Live04-16

Liberty Formula One (FWONK) is positioned for another year of growth as sponsorship momentum continues, margins improve and the revised race calendar is absorbed with limited impact to most revenue lines, UBS Securities said Tuesday in a report.

UBS expects Q1 results to reflect that backdrop, with revenue forecast at $590 million and operating income before depreciation and amortization at $147 million, supported by strong sponsorship demand, favorable race timing and an extra event versus last year.

Race-promotion revenue is likely to see the biggest effect from the revised calendar, while media-rights revenue should remain intact due to minimum distribution requirements, and most sponsorship contracts should also face limited pressure, UBS said

Early pricing for the Las Vegas Grand Prix appears similar to last year, a positive early indicator, while MotoGP monetization remains in its early stages, with new promoter deals expected to have a larger impact starting in 2027, the report said.

Q1 results are due May 6.

UBS reduced its price target on Liberty stock to $104 from $107 and maintained its neutral rating.

Price: 90.34, Change: -0.43, Percent Change: -0.47

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