Endeavor‘s fourth-quarter results showed growth in sports but were impacted by $30 million in legal costs and $47 million in write-offs. Last year, Endeavor incurred costs related to the WWE merger and IMG Academy sale.
Endeavor faces questions on strategic plans as a public entity. After going public in 2021, a strategic review is underway. Longtime partner Silver Lake may propose taking Endeavor private again. Despite the 5% stock increase this year, it’s down 11% since going public.
Endeavor’s focus remains on maximizing shareholder value. Full-year revenue for 2023 was $5.96 billion, with adjusted earnings of $1.21 billion. Net income totaled $557.5 million. Q4 saw revenue of $1.58 billion and adjusted EBITDA of $292.8 million.
Endeavor faced antitrust settlement costs of $20 million and recorded a $47 million write-off in its Events, Experiences, and Rights division. The 2023 strikes impacted the Representation segment, with adjusted EBITDA down 16.5%. More developments are expected.
