Revenue Analysis:
Total and Operating Revenue have shown mixed trends. In the most recent year (2024), Total Revenue was $3,799,529,000, showing an increase compared to 2023 ($5,838,941,000) but not consistently improving across the years as 2023 witnessed a drop from 2022 ($8,152,019,000). Gross Profit margins also varied, with $1,153,072,000 in 2024, rising from $1,157,757,000 in 2023, but showing an overall decrease compared to 2022 ($1,821,554,000).
Cost Management:
Cost of Revenue was significantly high across all years, with 2024 recording $2,646,457,000. It significantly increased in 2023 to $4,681,184,000 and even more in 2022 to $6,330,465,000. Operating Expenses and Total Expenses reflected similar trends, indicating a high cost structure that impacts overall profitability.
Profitability Analysis:
EBITDA was $216,482,000 in 2024, which is a substantial improvement from $84,236,000 in 2023 and $813,423,000 in 2022. Operating Income and Pretax Income have been inconsistent, with some years experiencing losses (2024 and 2023) and healthier profits in 2022 ($596,555,000 and $618,532,000 respectively). Net Income has fluctuated, showing a loss in 2024 and 2023 but a profit in 2022 ($483,495,000).
Cash Flow Indicators:
The Reconciled Depreciation values suggest moderate investment in asset renewal or expansion, with figures like $132,594,000 in 2024 and similar levels in prior years. Interest Expense remained consistently high, indicating significant debt servicing costs that affect net earnings.
Taxation:
The Tax rate for calculations varied notably, from 0.4 in 2024, decreasing from 0.21 in 2023, and much lower at about 0.093661 in previous quarters. Tax Provisions have been proportionate to pre-tax profits, though specific anomalies can be seen, such as negative effective tax rates due to losses.
Shareholder Metrics:
Diluted and Basic EPS figures indicate substantial variability in profitability, swinging from positive figures like 1.78 (diluted, 2022) to negatives like -0.53 (diluted, 2024). Average Shares remain steady, suggesting stable equity base management. Net Income Available to Common Stockholders varied greatly across the years but mostly remained positive except for some instances.
Conclusion:
LYV has demonstrated fluctuating financial performance over the past three years with revenue, profitability, and net income showing inconsistencies. These inconsistencies were largely influenced by substantial costs and expenses, including high interest expenses. The company maintained stable shareholder counts but showed variable EPS. Improving cost management and perhaps restructuring financial commitments could enhance profitability.
Appendices:
Supporting data tables and calculations can be found embedded within the financial metrics and ratios discussed above.