Warner Music Group Corp. ( Nasdaq : WMG) filed a current report on August 3, 2026, disclosing preliminary unaudited financial estimates for the three months ended June 30, 2026, ahead of the completion of its formal closing procedures.

Key Highlights

  • Consolidated Revenue estimated at approximately $1,864 million, up 10% (9% in constant currency) from $1,689 million in the same quarter of the prior year.
  • Operating Income estimated at approximately $305 million, an increase of 80% from $169 million for the three months ended June 30, 2025.
  • Adjusted OIBDA estimated at approximately $433 million, up 16% (15% in constant currency) from $373 million a year earlier.
  • EPS estimated at approximately $0.39, compared to ($0.03) for the three months ended June 30, 2025; Adjusted EPS estimated at approximately $0.51 versus $0.42.
  • Cash provided by Operating Activities estimated at approximately $142 million, an increase of $96 million or 209% from $46 million in the prior-year quarter.
  • Total consolidated indebtedness estimated at approximately $4,710 million as of June 30, 2026, including non-recourse indebtedness of $666 million.
  • Cash and cash equivalents estimated at approximately $618 million as of June 30, 2026.

Warner Music Group Preliminary Estimates for the Three Months Ended June 30, 2026

According to the filing, Warner Music Group Corp. presented preliminary estimated financial information as of and for the three months ended June 30, 2026, based on currently available information. The company disclosed that these estimates are unaudited, have not been finalized, and that KPMG LLP has not performed any procedures on nor expressed any opinion or assurance regarding such estimates. The filing stated that "actual financial results may materially differ from such preliminary estimates."

The filing reported that Recorded Music revenue, prior to intersegment eliminations, is estimated to have increased 10% (9% in constant currency) to approximately $1,488 million from $1,354 million, while Music Publishing revenue, prior to intersegment eliminations, is estimated to have increased 12% (11% in constant currency) to approximately $377 million from $336 million. Consolidated digital revenue is estimated to have increased 11% (9% in constant currency) to approximately $1,251 million. Recorded Music streaming revenue is estimated at approximately $1,001 million, reflecting subscription revenue growth of 12% (11% in constant currency) and ad-supported revenue growth of 10% (8% in constant currency). Music Publishing digital revenue is estimated to have increased 15% (same in constant currency) to approximately $235 million.

The filing attributed the period-over-period increase in Adjusted OIBDA "primarily" to "strong operating performance in the quarter and savings from the Company's restructuring plans." The company also reiterated, according to the filing, "its commitment to delivering on its financial targets of high-single-digit consolidated revenue growth, double-digit Adjusted OIBDA and Adjusted EPS growth and 50-60% Operating Cash Flow conversion," and stated it expects to deliver an Adjusted OIBDA Margin increase "at the high end of its 150-200 basis point financial target for the twelve months ended September 30, 2026." The filing noted that Adjusted OIBDA and Adjusted EPS are non-GAAP measures and should be considered in addition to, not as substitutes for, GAAP measures.

What Was Disclosed

Warner Music Group Corp. disclosed preliminary unaudited revenue, operating income, Earnings Per Share , cash flow, and Balance Sheet estimates for its fiscal third quarter ended June 30, 2026, along with a reiteration of its stated financial targets, in a current report filed August 3, 2026.