WWE® To Report First Quarter 2023 Results
13 April 2023 - 6:05AM
Business Wire
WWE (NYSE: WWE) announced that it will report its first quarter
2023 results on Wednesday, May 3, 2023 prior to the market opening.
The Company will host a conference call beginning at 8:30 a.m. ET
to discuss the results.
All interested parties are welcome to listen to a live webcast
that will be hosted through the Company’s web site at
corporate.wwe.com/investors. Participants can access the conference
call by dialing 855-200-4993 (toll free) or 323-794-2092 from
outside the U.S. (conference ID for both lines: 7356182). Please
reserve a line approximately 10 minutes prior to the start time of
the conference call.
The earnings presentation referenced during the call will be
made available on May 3, 2023 at corporate.wwe.com/investors. A
replay of the call will be available approximately two hours after
the conference call concludes and can be accessed on the Company’s
web site.
About WWE WWE, a publicly
traded company (NYSE: WWE), is an integrated media organization and
recognized leader in global entertainment. The Company consists of
a portfolio of businesses that create and deliver original content
52 weeks a year to a global audience. WWE is committed to
family-friendly entertainment on its television programming,
premium live events, digital media, and publishing platforms. WWE’s
TV-PG programming can be seen in more than 1 billion homes
worldwide in 30 languages through world-class distribution partners
including NBCUniversal, FOX, BT Sport, Sony India, and Rogers. The
award-winning WWE Network includes all premium live events,
scheduled programming and a massive video-on-demand library and is
currently available in more than 180 countries. In the United
States, NBCUniversal’s streaming service, Peacock, is the exclusive
home to WWE Network.
Additional information on WWE can be found at wwe.com and
corporate.wwe.com.
Trademarks: All WWE programming,
talent names, images, likenesses, slogans, wrestling moves,
trademarks, logos, and copyrights are the exclusive property of WWE
and its subsidiaries. All other trademarks, logos and copyrights
are the property of their respective owners.
Forward-Looking Statements: This
press release contains, and oral statements made from time to time
by our representatives may contain, forward-looking statements
pursuant to the safe harbor provisions of the Securities Litigation
Reform Act of 1995. Forward looking statements include, without
limitation, statements relating to our previously disclosed
proposed business combination with Ultimate Fighting Championship;
our outlook regarding future financial results; the impact of
recent changes to management and our board of directors (the
“Board”); the timing and outcome of the Company’s media and other
rights negotiations including major domestic programming licenses
expected to be negotiated in 2023; the Company’s plans to remediate
identified material weaknesses in our disclosure control and
procedures and our internal control over financial reporting; and
regulatory, investigative or enforcement inquiries, subpoenas or
demands arising from, related to, or in connection with the
management and accounting matters. The words “may,” “will,”
“could,” “anticipate,” “plan,” “continue,” “project,” “intend,”
“estimate,” “believe,” “expect,” “outlook,” “target,” “goal,”
“guidance” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain such words. These statements relate to future
possible events, as well as our plans, objectives, expectations and
intentions and are not historical facts and accordingly involve
known and unknown risks and uncertainties and other factors that
may cause the actual results or the performance by us to be
materially different from expected future results or performance
expressed or implied by any forward-looking statements. These
forward-looking statements are subject to uncertainties relating
to, without limitation, the impact of actions by Mr. McMahon (who
has a controlling interest in the Company due to his ownership of a
substantial majority of our Class B common stock and whose
interests could conflict with those of our Class A common
stockholders) which could have adverse financial and operational
impacts.
The following additional factors, among others, could cause
actual results to differ materially from those contained in
forward-looking statements: the consummation of the business
combination with Ultimate Fighting Championship in the expected
timeline or at all; diversion of management’s time and attention
due to the pending business combination; COVID-19, which may
continue to affect negatively world economies as well as our
industry, business and results of operations; a rapidly evolving
and highly competitive media landscape; WWE Network; computer
systems, content delivery and online operations of our Company and
our business partners; privacy norms and regulations; our need to
continue to develop creative and entertaining programs and events;
our need to retain and continue to recruit key performers; the
possibility of a decline in the popularity of our brand of sports
entertainment; possible adverse changes in the regulatory
atmosphere and related private sector initiatives; the highly
competitive, rapidly changing and increasingly fragmented nature of
the markets in which we operate and/or our inability to compete
effectively, especially against competitors with greater financial
resources or marketplace presence; uncertainties associated with
international markets including possible disruptions and
reputational risks; our difficulty or inability to promote and
conduct our live events and/or other businesses if we do not comply
with applicable regulations; our dependence on our intellectual
property rights, our need to protect those rights, and the risks of
our infringement of others’ intellectual property rights; potential
substantial liability in the event of accidents or injuries
occurring during our physically demanding events; large public
events as well as travel to and from such events; our expansion
into new or complementary businesses, strategic investments and/or
acquisitions; our accounts receivable; the construction and move to
our new leased corporate and media production headquarters;
litigation and other actions, investigations or proceedings; a
change in the tax laws of key jurisdictions; inflationary pressures
and interest rate changes; our indebtedness including our
convertible notes; our potential failure to meet market
expectations for our financial performance; our share repurchase
program; a substantial number of shares are eligible for sale by
the McMahons and the sale, or the perception of possible sales, of
those shares could cause our stock price to decline; and the
volatility in trading prices of our Class A common stock. In
addition, our dividend is dependent on a number of factors,
including, among other things, our liquidity and historical and
projected cash flow, strategic plan (including alternative uses of
capital), our financial results and condition, contractual and
legal restrictions, general economic and competitive conditions and
such other factors as our Board may consider relevant.
Forward-looking statements made by the Company speak only as of
the date made and are subject to change without any obligation on
the part of the Company to update or revise them. Undue reliance
should not be placed on these statements. For more information
about risks and uncertainties associated with the Company’s
business and our forward-looking statements, please refer to both
the “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and “Risk Factors” in our Form 10-K and
to our other SEC filings.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230412005668/en/
Investors: Seth Zaslow 203-352-1026
seth.zaslow@wwecorp.com Media: Chris
Legentil 203-352-8793 chris.legentil@wwecorp.com
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