NYSE$MANU

Manchester United · Q4 2026 earnings

Q4 2026 earnings · · Before market open · Investor relations

Briefing

Manchester United reports record full-year revenue of £677.6 million despite no European competition.

Manchester United achieved record full-year revenue of £677.6 million for fiscal 2026, up 1.7% from £666.5 million, with operating profit turning to £22.6 million from a prior-year loss. Q4 revenue was £157.5 million and adjusted EBITDA £28.9 million, down from prior-year comparatives due to match phasing and prior events. The club posted a full-year net loss of £43.0 million and introduced FY2027 guidance of £740-760 million revenue and £205-225 million adjusted EBITDA.

  • Record full-year revenue of £677.6m despite no UEFA competition participation.
  • Full-year adjusted EBITDA reached record £216.4m, up 18.4%.
  • Q4 revenue £157.5m and adjusted EBITDA £28.9m, impacted by Premier League match phasing.
  • FY2027 guidance set at £740-760m revenue and £205-225m adjusted EBITDA with Champions League return.

Headline financials

Total Revenue

£210M

Previous: £909M-76.9%
EPS (adj)

-£0.16

Previous: -£0.19+13.9%
Adjusted EBITDA

£28.9M

Previous: £37.5M-23.0%
Net Income

-£38.4M

Previous: -£45.1M+14.8%
Operating Income

-£20.1M

Previous: -£28.4M+29.4%

Revenue & EPS history

Manchester United · Revenue · Quarterly

£210M

Q4 2026-76.9%vs Q4 2025
Beat estimate in 7 of 10 quarters(70%)
ActualEstimate

Revenue by segment

Manchester United · £158M total across 3 segments · Q4 2026

  • Commercial
    £72.2M—
  • Broadcasting
    £49.7M—
  • Matchday
    £35.6M—

Forward guidance

For full year fiscal 2027, revenue guidance of £740 million to £760 million and adjusted EBITDA guidance of £205 million to £225 million.

Tailwinds

  • Return to UEFA Champions League expected to boost revenue.
  • Improved Premier League performance continuing.

Headwinds

  • Increased player staff costs associated with Champions League participation.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 6 quarterly earnings reports

Historical avg

+1.3%

Avg return

Earnings day

+3.5%

Avg return

5 days after

+4.2%

Avg return

30 days after

54%

7 / 13 earnings

Positive

+18.8%

Q3 2025

Best reaction

-6.4%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026———
Q3 2026+11.9%+10.7%—
Q2 2026-2.1%-0.1%-7.8%
Q4 2025-6.4%-7.6%+9.2%
Q3 2025+18.8%+22.3%+26.7%
Q1 2025-3.0%+0.0%-3.2%
Q4 2024+1.1%+0.6%+4.6%
Q2 2024-1.2%-1.4%-4.4%
Q4 2014+1.4%——
Q3 2014-4.3%——
Q1 2014+2.9%——
Q4 2013+0.3%——
Q4 2012+1.1%——
Q1 2013-3.8%——
Q2 2011———
Q1 2011———
Q4 2011———

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