$TKO · TKO Group Holdings, Inc.
TKO reported Q3 FY2026 results: revenue of $1.360B (up 21%/$240.2M), net income of $277.9M (up $171.1M), and Adjusted EBITDA of $555.7M (up 54%). Diluted EPS was $1.33. The company raised full-year 2026 guidance to revenue of $5.790B–$5.830B and Adjusted EBITDA of $2.295B–$2.315B, and announced intent to repurchase the remaining ~$936M under its $3B authorization, funded primarily by additional debt and cash.
- Revenue rose 21% to $1.360B, led by UFC up 60% to $519.2M.
- Adjusted EBITDA rose 54% to $555.7M; margin expanded to 41% from 32%.
- FY26 guidance raised to $5.790B–$5.830B revenue and $2.295B–$2.315B Adjusted EBITDA.
- Company returned over $1.6B to equity holders year-to-date via buybacks and dividends.
- Gross debt was $4.647B and cash $630.9M as of September 30, 2026.
Shares closed +3.35% at $193.48, but extended-hours trading slipped to $190.00 (-1.80% vs regular close), suggesting some profit-taking after the strong regular-session run.
A second consecutive guidance raise plus a debt-funded buyback signals management conviction, but adds leverage to an already heavily indebted balance sheet.
TKO's live-events and media-rights portfolio (UFC, WWE, IMG) is benefiting from secular demand for premium sports content, with UFC's new Skydance deal and FIFA World Cup 2026 hospitality driving growth.
Guidance assumes all live events, including Middle East events, stage as planned; buyback funding via additional debt adds leverage to an already $4.647B gross debt load.