Q3 Earnings Roundup: Live Nation (NYSE:LYV) And The Rest Of The Leisure Facilities Segment

Stock Story

AMC Entertainment

+6.52%

Live Nation Entertainment

+0.79%

Planet Fitness

+1.56%

United Parks & Resorts

+6.53%

Xponential Fitness

-0.35%

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 Live Nation .

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 11 leisure facilities stocks we track reported a satisfactory Q3. As a group, revenues missed analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 0.6% below.

Thankfully, share prices of the companies have been resilient as they are up 9.2% on average since the latest earnings results.

Live Nation

Owner of Ticketmaster and operator of music festival EDC, Live Nation is a company specializing in live event promotion, venue management, and ticketing services for concerts and shows.

Live Nation reported revenues of $8.50 billion, up 11.1% year on year. This print fell short of analysts’ expectations by 0.9%, but it was still a satisfactory quarter for the company with an impressive beat of analysts’ adjusted operating income estimates but a miss of analysts’ events estimates.

Unsurprisingly, the stock is down 3.4% since reporting and currently trades at $145.57.

Best Q3: AMC Entertainment

With a profile that was raised due to meme stock mania beginning in 2021, AMC Entertainment operates movie theaters primarily in the US and Europe.

AMC Entertainment reported revenues of $1.3 billion, down 3.6% year on year, outperforming analysts’ expectations by 6.3%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

AMC Entertainment achieved the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 34.5% since reporting. It currently trades at $1.65.

Weakest Q3: United Parks & Resorts

Parent company of SeaWorld and home of the world-famous Shamu, United Parks & Resorts is a theme park chain featuring marine life, live entertainment, roller coasters, and waterparks.

United Parks & Resorts reported revenues of $511.9 million, down 6.2% year on year, falling short of analysts’ expectations by 5.2%. It was a disappointing quarter as it posted a miss of analysts’ visitors estimates and a significant miss of analysts’ revenue estimates.

As expected, the stock is down 19% since the results and currently trades at $37.43.

Read our full analysis of United Parks & Resorts’s results here.

Planet Fitness

Founded by two brothers who purchased a struggling gym, Planet Fitness is a gym franchise that caters to casual fitness users by providing a friendly and inclusive atmosphere.

Planet Fitness reported revenues of $330.3 million, up 13% year on year. This number beat analysts’ expectations by 2%. It was a strong quarter as it also put up an impressive beat of analysts’ adjusted operating income estimates and a narrow beat of analysts’ same-store sales estimates.

The stock is up 16.5% since reporting and currently trades at $106.86.

Read our full, actionable report on Planet Fitness here, it’s free.

Xponential Fitness

Owner of CycleBar, Rumble, and Club Pilates, Xponential Fitness is a boutique fitness brand offering diverse and specialized exercise experiences.

Xponential Fitness reported revenues of $78.82 million, down 2.1% year on year. This result surpassed analysts’ expectations by 3.9%. Overall, it was a very strong quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 32% since reporting and currently trades at $8.32.

Read our full, actionable report on Xponential Fitness here, it’s free.

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Spotting Winners: European Wax Center (NASDAQ:EWCZ) And Leisure Facilities Stocks In Q3

Stock Story

Lucky Strike Entertainment Corporation

+1.52%

United Parks & Resorts

+6.53%

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the leisure facilities stocks, including European Wax Center and its peers.

The 11 leisure facilities stocks we track reported a satisfactory Q3. As a group, revenues missed analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 0.6% below.

Thankfully, share prices of the companies have been resilient as they are up 7.9% on average since the latest earnings results.

European Wax Center

Founded by two siblings, European Wax Center is a beauty and waxing salon chain specializing in professional wax services and skincare products.

European Wax Center reported revenues of $54.19 million, down 2.2% year on year. This print exceeded analysts’ expectations by 2.7%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS and EBITDA estimates.

Chris Morris, Chairman and CEO of European Wax Center, Inc., stated: “European Wax Center delivered a solid third quarter performance as we continued to strengthen the fundamentals that power our business model. Our new leadership team is executing with discipline and remains focused on our three strategic priorities: driving sales through traffic growth, improving four-wall profitability for our franchisees, and pursuing disciplined, profitable expansion.”

European Wax Center delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 14.4% since reporting and currently trades at $4.18.

Best Q3: AMC Entertainment

With a profile that was raised due to meme stock mania beginning in 2021, AMC Entertainment operates movie theaters primarily in the US and Europe.

AMC Entertainment reported revenues of $1.3 billion, down 3.6% year on year, outperforming analysts’ expectations by 6.3%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA estimates.

AMC Entertainment delivered the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 38.3% since reporting. It currently trades at $1.56.

Weakest Q3: United Parks & Resorts

Parent company of SeaWorld and home of the world-famous Shamu, United Parks & Resorts is a theme park chain featuring marine life, live entertainment, roller coasters, and waterparks.

As expected, the stock is down 19.9% since the results and currently trades at $37.05.

Read our full analysis of United Parks & Resorts’s results here.

Topgolf Callaway

Formed between the merger of Callaway and Topgolf, Topgolf Callaway sells golf equipment and operates technology-driven golf entertainment venues.

Topgolf Callaway reported revenues of $934 million, down 7.8% year on year. This result surpassed analysts’ expectations by 2.3%. It was a very strong quarter as it also logged EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Topgolf Callaway delivered the highest full-year guidance raise but had the slowest revenue growth among its peers. The stock is up 42.6% since reporting and currently trades at $13.22.

Read our full, actionable report on Topgolf Callaway here, it’s free for active Edge members.

Lucky Strike

Born from the transformation of traditional bowling alleys into modern entertainment destinations, Lucky Strike operates bowling alleys and other entertainment venues with upscale amenities, arcade games, and food and beverage services across North America.

Lucky Strike reported revenues of $292.3 million, up 12.3% year on year. This number topped analysts’ expectations by 3.3%. Overall, it was a strong quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

The stock is up 15.7% since reporting and currently trades at $9.34.

Read our full, actionable report on Lucky Strike here, it’s free for active Edge members.

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Stocks making big moves this week: PacBio, Crocs, FuelCell Energy, AMC Entertainment, and ON24

Stock Story

Pacific Biosciences of California

Check out the companies making headlines this week:

PacBio : Genomics company Pacific Biosciences of California rose by 6.1% on Wednesday after Cathie Wood's investment firm, ARK Invest, purchased a substantial number of its shares. See our full article here.

Crocs : Footwear company Crocs fell by 3% on Monday after the stock tested a technical resistance level amid underlying investor concerns about slowing growth. See our full article here.

FuelCell Energy : Carbonate fuel cell technology developer FuelCell Energy fell by 9.8% on Wednesday after the company filed for a common stock offering of up to $200 million See our full article here.

AMC Entertainment : Theater company AMC Entertainment fell by 3.2% on Monday after investor concerns about the company's underlying financial health overshadowed a report of strong moviegoer attendance over the final weekend of 2025. See our full article here.

ON24 : Digital engagement platform ON24 rose by 36.9% on Tuesday after the company agreed to be acquired by Cvent in an all-cash transaction. See our full article here.

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Why AMC Entertainment (AMC) Stock Is Falling Today

Stock Story

AMC Entertainment

+6.52%

What Happened?

Shares of theater company AMC Entertainment fell 3.2% in the morning session after investor concerns about the company's underlying financial health overshadowed a report of strong moviegoer attendance over the final weekend of 2025. The company reported that 5.5 million people visited its theaters globally. Despite this positive attendance, the stock's decline reflected deep skepticism about the company's future. Financial data revealed significant challenges, including a substantial debt burden.

What Is The Market Telling Us

AMC Entertainment’s shares are very volatile and have had 22 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 7 months ago when the stock gained 10.5% on the news that the major indices rebounded (Nasdaq +2.0%, S&P 500 +1.5%) as President Trump postponed the planned 50% tariff on European Union imports, shifting the start date to July 9, 2025. Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand.

AMC Entertainment is down 59.3% since the beginning of the year, and at $1.64 per share, it is trading 59.8% below its 52-week high of $4.07 from January 2025. Investors who bought $1,000 worth of AMC Entertainment’s shares 5 years ago would now be looking at an investment worth $80.92.

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AMC Entertainment on Track for Record Low Close — Data Talk

Dow Jones Newswires

AMC Entertainment

+6.52%

AMC Entertainment Holdings, Inc. Class A (AMC) is currently at $1.68, down $0.02 or 1.18%

Would be new all-time closing low (Based on available data back to Dec. 18, 2013)
On pace for largest percent decrease since Dec. 22, 2025, when it fell 2.86%
Currently down 12 of the past 13 days
Currently down 11 consecutive days; down 27.59% over this period
Longest losing streak since Jan. 27, 2022, when it fell for 11 straight trading days
Worst 11 day stretch since the 11 days ending May 30, 2024, when it fell 38.25%
Down 31.43% month-to-date; on pace for worst month since Jan. 2024, when it fell 33.82%
Down 57.79% year-to-date; on pace for worst year since 2023, when it fell 82.96%
Down 99.5% from its all-time closing high of $339.05 on June 2, 2021
Down 58.62% from 52 weeks ago (Dec. 24, 2024), when it closed at $4.06
Down 58.72% from its 52-week closing high of $4.07 on Jan. 7, 2025
Would be a new 52-week closing low
Traded as low as $1.64; new all-time intraday low (Based on available data back to Dec. 18, 2013)
Down 3.53% at today's intraday low

All data as of 10:05:25 AM ET

Source: Dow Jones Market Data, FactSet

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Leisure Facilities Stocks Q3 Recap: Benchmarking Xponential Fitness (NYSE:XPOF)

Stock Story

United Parks & Resorts

+6.53%

Xponential Fitness

-0.35%

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at leisure facilities stocks, starting with Xponential Fitness .

The 11 leisure facilities stocks we track reported a satisfactory Q3. As a group, revenues missed analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 0.6% below.

Thankfully, share prices of the companies have been resilient as they are up 5.3% on average since the latest earnings results.

Xponential Fitness

Owner of CycleBar, Rumble, and Club Pilates, Xponential Fitness is a boutique fitness brand offering diverse and specialized exercise experiences.

Xponential Fitness reported revenues of $78.82 million, down 2.1% year on year. This print exceeded analysts’ expectations by 3.9%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

“Over my first 90 days, I’ve gained a much clearer picture of our strengths and opportunities ahead. This time has only reinforced my confidence in both the power of our brands and the commitment of our franchisees,” said Mike Nuzzo, CEO of Xponential Fitness, Inc.

Interestingly, the stock is up 25.9% since reporting and currently trades at $7.93.

Best Q3: AMC Entertainment

With a profile that was raised due to meme stock mania beginning in 2021, AMC Entertainment operates movie theaters primarily in the US and Europe.

AMC Entertainment scored the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 32.1% since reporting. It currently trades at $1.71.

Weakest Q3: United Parks & Resorts

Parent company of SeaWorld and home of the world-famous Shamu, United Parks & Resorts is a theme park chain featuring marine life, live entertainment, roller coasters, and waterparks.

As expected, the stock is down 24.7% since the results and currently trades at $34.80.

Read our full analysis of United Parks & Resorts’s results here.

Vail Resorts

Founded by two Aspen, Colorado ski patrol guides, Vail Resorts is a mountain resort company offering luxury experiences in over 30 locations across the globe.

Vail Resorts reported revenues of $271 million, up 4.1% year on year. This print came in 1.2% below analysts' expectations. Zooming out, it was a mixed quarter as it also logged an impressive beat of analysts’ skier visits estimates but a slight miss of analysts’ revenue estimates.

The stock is up 4.5% since reporting and currently trades at $148.00.

Read our full, actionable report on Vail Resorts here, it’s free for active Edge members.

Planet Fitness

Founded by two brothers who purchased a struggling gym, Planet Fitness is a gym franchise that caters to casual fitness users by providing a friendly and inclusive atmosphere.

Planet Fitness reported revenues of $330.3 million, up 13% year on year. This result beat analysts’ expectations by 2%. It was a strong quarter as it also put up a solid beat of analysts’ adjusted operating income estimates and a narrow beat of analysts’ same-store sales estimates.

The stock is up 21.5% since reporting and currently trades at $111.39.

Read our full, actionable report on Planet Fitness here, it’s free for active Edge members.

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AMC's stock sinks to a 6th straight record low, as 'Avatar' sequel's big opening fails to impress

MarketWatch

AMC Entertainment

+6.52%

By Tomi Kilgore

Movie-theater chain's shares fall for a 10th straight session

AMC Entertainment's stock fell to a sixth straight record low, after the disclosure of another debt-agreement amendment that involves the sale of shares.

Shares of AMC Entertainment Holdings sank on Monday to extend a long losing streak, as investors paid little attention to the movie-theater chain's announcement that it just scored its biggest pre-Christmas-weekend box office in four years.

Instead, investors appeared to focus on the company's funding issues, as AMC disclosed the latest amendment to its terms of debt securities, which include the potential for more open-market sales of common stock.

AMC's stock (AMC) dropped 2.9% to close Monday at $1.70. For what was once one of the original meme stocks, that was not only the 10th straight decline, which is the longest such stretch since the 11-session streak that ended Jan. 27, 2022, it also closed at a record low for a sixth straight session.

The selloff continued even as the company said that based on attendance at its movie theaters and admissions revenue, it had the best pre-Christmas holiday weekend since 2021. The strength was led by Walt Disney Co.'s (DIS) "Avatar: Fire and Ash," which reported a domestic box-office haul of $88 million over the past weekend, the seventh-highest ever for an opening weekend in December, according to Box Office Mojo.

AMC also said it was the first weekend in 2025 in which there were five movies that had a domestic box office of at least $14 million each. The movies on that list, other than "Avatar," were "David," "The Housemaid," "The SpongeBob Movie: Search for SquarePants" and "Zootopia 2," which debuted in late November.

Also on Monday, the company disclosed in an 8-K filing with the Securities and Exchange Commission that it will pay $6.25 million to the holders of its exchangeable notes due 2030, in the form of AMC common stock, for agreeing to certain amendments to the debt agreements.

The company may also conduct one or more "at-the-market" offerings of common stock for cash, with proceeds not to exceed $150 million.

The amendment comes less than two months after the company reported third-quarter admissions revenue that fell about 4% from a year ago, and concessions revenue that slid nearly 8%, as well as its eighth straight quarterly net loss, according to FactSet data. The net loss for the quarter had jumped to $298.2 million from $20.7 million a year ago, mainly because of charges related to a debt-restructuring deal announced in July.

The stock has now tumbled 26.7% during its current losing streak. It has also slid 30.6% so far in December, to put it on track for its worst monthly performance since it shed 33.8% in January 2024.

AMC's closing price of $1.70 on Monday was a far cry from its meme-induced record-high close of $339.05 seen on June 2, 2021.

Keep in mind that the day before the company's 1-for-10 reverse stock split, aimed at raising its share price, went into effect on Aug. 24, 2023, the stock had closed at a pre-split price of $1.96.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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