Formula One Group (FWONA) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $934 million, down 30% year-over-year, primarily due to fewer Formula 1 events, while MotoGP contributed $170 million in revenue following its acquisition.

• Operating income for Q2 2026 was $88 million, a significant decrease from the prior year, mainly from lower Formula 1 results, partially offset by MotoGP.

• Adjusted OIBDA for Q2 2026 was $206 million, down 44% year-over-year, driven by the Formula 1 calendar variance.

• MotoGP signed new long-term agreements with all manufacturers and teams through 2031, supporting future growth.

• Announced a 10-year extension for the Las Vegas Grand Prix and extended key broadcast and sponsorship partnerships for both F1 and MotoGP.

Financial highlights

• Formula 1 Q2 2026 revenue fell 38% to $764 million, with operating income down 75% to $73 million and Adjusted OIBDA down 61% to $139 million, due to four fewer races compared to Q2 2025.

• MotoGP Q2 2026 revenue was $170 million, with Adjusted OIBDA up 3% on a pro-forma basis; six-month revenue increased 6% to $264 million.

• Consolidated net earnings attributable to stockholders for Q2 2026 were $5 million, compared to $204 million in Q2 2025.

• Total consolidated cash and cash equivalents increased to $1.47 billion as of June 30, 2026, while total debt decreased to $4.92 billion.

• Interest expense rose to $68 million in Q2 2026, reflecting higher average debt.

Outlook and guidance

• Formula 1 expects 23 events in 2026 after calendar adjustments due to Middle East conflicts.

• Management remains focused on disciplined capital allocation, strategic investments, and expanding global reach and fan engagement for both F1 and MotoGP.

• Full-year team payments as a percent of pre-team share Adjusted OIBDA expected to improve by 200 basis points.

• MotoGP anticipates continued commercial growth and organizational strengthening, with new technical regulations in 2027.