Liberty Media Corp

Latest Results (30.08.2026):

Liberty Media Corporation — second quarter 2026: Consolidated revenue of $934 million and consolidated operating income of $88 million, with consolidated Adjusted OIBDA of $206 million. Results reflect a large year-over-year timing/calendar impact from fewer Formula 1 events in the period and the addition of MotoGP results following Liberty’s acquisition.

Consolidated results

Q2 2026 consolidated revenue $934M (vs. $1,341M Q2 2025); operating income $88M (vs. $280M); Adjusted OIBDA $206M (vs. $369M). Net earnings attributable to Liberty stockholders $5M (vs. $204M).

Formula 1 (F1) — quarter impact

Q2 2026 F1 revenue $764M (down 38% YoY) driven by five races in the quarter vs. nine in Q2 2025; F1 operating income $73M and Adjusted OIBDA $139M. Season-based revenue recognition and fewer events (calendar changes) were the primary drivers of the decline.

MotoGP performance

Q2 2026 MotoGP revenue $170M, operating income $37M and Adjusted OIBDA $76M (pro forma comparisons show small YoY variance; 7 races in both periods). Liberty noted commercial wins including multi‑year manufacturer/team deals through 2031 and appointing CAA as global sponsorship agency.

Cash, debt and leverage

Cash and cash equivalents $1,465M at 6/30/2026 (cash increased ~$133M during Q2; $410M YTD). Total debt $4,855M at 6/30/2026 (total debt down $134M in Q2). Consolidated leverage 3.4x; F1 and MotoGP in compliance with covenants. MotoGP repriced debt (new €720M Term Loan B, $209M Term Loan A, €100M revolver) and funded $114M of debt repayment.

Corporate items, cash flow and buybacks

YTD net cash provided by operations $673M. Corporate-level SG&A included $20M in Q2. No share repurchases May 1–July 31, 2026; $1.1B remaining repurchase authorization as of Aug 1, 2026.

Key commercial and calendar developments

F1: Bahrain Grand Prix rescheduled to be hosted in Malaysia in October (assumed 23-race calendar), 10-year Las Vegas Grand Prix extension through 2037, Pirelli partnership extended through 2028, ServusTV renewal in Austria. MotoGP: signed manufacturer/team agreements through 2031, renewed promoter/broadcast deals (including DAZN Spain, Sky DACH), and shifted hospitality arrangements with Quint.