-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
FWON.K delivered strong Q1 2026 results with total operating revenue of $711M, up 76% from the prior year, and adjusted OIBDA of $181M compared to $73M a year ago. The improvement was driven by three races held vs. two in the prior-year period, with media rights and sponsorship revenues both increasing. The company secured long-term race agreements including Austrian GP through 2041 and Canadian GP through 2035, while adding new sponsors Standard Chartered and Pepsico and extending the Concorde Agreement with all teams through 2030. Management noted geopolitical tensions hurt results as sponsors canceled the Bahrain and Saudi Arabia GPs in April. Looking ahead, the company announced Portugal GP's return in 2027-2028, plans for a new Madrid race, and the debut of Cadillac and Audi racing teams. As of March 31, 2026, FWON.K had $5.0B total debt and $1.33B cash, with 2026 introducing next-generation F1 cars and regulations designed for dynamic racing. FWON.K would benefit from a resolution of the Iran-U.S. war.