Endeavor Group (EDR) Q4 2024 earnings summary

Executive summary

• Full year 2024 revenue reached $7.111 billion, with growth in Owned Sports Properties and Representation segments.

• Net loss for 2024 was $1.215 billion; Adjusted EBITDA was $1.316 billion.

• Q4 2024 revenue was $1.568 billion, net loss $237.2 million, Adjusted EBITDA $277.1 million.

• Focus remains on asset sales to TKO, Silver Lake take-private transaction, and long-term representation strategy.

Financial highlights

• Year-over-year revenue increased to $7.111 billion from $5.491 billion.

• Net loss widened to $1.215 billion from net income of $557 million in 2023, largely due to discontinued operations and impairments.

• Adjusted EBITDA rose to $1.316 billion from $1.140 billion year-over-year.

• Cash and cash equivalents at year-end were $1.201 billion; total debt was $5.678 billion.

Outlook and guidance

• Sale of PBR, On Location, and IMG to TKO in a $3.25 billion all-equity deal expected to close in Q1 2025.

• Take-private transaction with Silver Lake at $27.50 per share in cash expected to close by end of Q1 2025.

• Ongoing review and potential sale of select events, including Miami Open, Madrid Open, and Frieze.