June 7th- Endeavor November 19th, 2021

EDR, November 19th, 2021,  $35C, $2.25

Endeavor is global entertainment, sports, content company who's assets make it very attractive to own for long term. Endeavor is a true "entertainment" play, as they are involved in all forms of entertainment. Most notably, they will be participating in the Olympics and recently have become 100% owner of UFC.  

During their latest conference call on 6/2/21 management discussed how talent is in short supply, leveraging them in negotiations.  Emanuel on conference call said they are asking for higher prices for their talent as the the demand curve has shifted. In summary, Emanuel said, "As we emerge from the pandemic, we are witnessing strong demand for all forms of content".

 

3 Main segments of Endeavors business:

-Talent management

-Sports

-Events, Experiences, Rights 

 

Quarter Highlights:

1) Revenues came in at $1.07B, slightly lower than last year

2) Operating income was $94.5M vs 53.8M last year

3) Net income $2.4M vs. (-51.3M) last year

 

We like this as re-opening stock as the revenues return to UFC, events resume, and movie production ramps up.