Q3 Rundown: Sphere Entertainment (NYSE:SPHR) Vs Other Leisure Facilities Stocks

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how leisure facilities stocks fared in Q3, starting with Sphere Entertainment (NYSE:SPHR).

Leisure facilities companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted their spending from "things" to "experiences". Leisure facilities seek to benefit but must innovate to do so because of the industry's high competition and capital intensity.

The 12 leisure facilities stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 1.7% while next quarter’s revenue guidance was 4.5% below.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Sphere Entertainment (NYSE:SPHR)

Sphere Entertainment reported revenues of $227.9 million, up 93.1% year on year. This print exceeded analysts’ expectations by 2.7%. Despite the top-line beat, it was still a mixed quarter for the company with a significant miss of analysts’ EBITDA estimates.

Executive Chairman and CEO James L. Dolan said, "The vision for Sphere has always included a global network of venues, and our recently announced plans for a second Sphere in Abu Dhabi mark a significant milestone toward that goal. We are confident in the opportunities ahead for Sphere and believe we are well-positioned to drive long-term shareholder value. "

Sphere Entertainment achieved the fastest revenue growth of the whole group. Still, the market seems discontent with the results. The stock is down 13% since reporting and currently trades at $41.79.

Is now the time to buy Sphere Entertainment? Find out by reading the original article on StockStory, it’s free.

Best Q3: Live Nation (NYSE:LYV)

Live Nation reported revenues of $7.65 billion, down 6.2% year on year, falling short of analysts’ expectations by 2.2%. However, the business still had a very strong quarter with an impressive beat of analysts’ adjusted operating income estimates.

The market seems happy with the results as the stock is up 13% since reporting. It currently trades at $140.06.

Weakest Q3: Dave & Buster's (NASDAQ:PLAY)

Dave & Buster's reported revenues of $453 million, down 3% year on year, falling short of analysts’ expectations by 2.3%. It was a softer quarter as it posted a significant miss of analysts’ EPS estimates.

Dave & Buster's delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 28% since the results and currently trades at $26.50.

Life Time (NYSE:LTH)

Life Time reported revenues of $693.2 million, up 18.5% year on year. This result was in line with analysts’ expectations. Overall, it was a satisfactory quarter as it also put up a decent beat of analysts’ EPS estimates.

The stock is up 12.2% since reporting and currently trades at $28.39.

European Wax Center (NASDAQ:EWCZ)

European Wax Center reported revenues of $55.43 million, flat year on year. This number topped analysts’ expectations by 2.3%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is down 13.4% since reporting and currently trades at $6.95.

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This content was originally published on Stock Story