Manchester United plc (NYSE:MANU) reported third-quarter fiscal 2026 results on Wednesday that exceeded market expectations, sending the club’s shares sharply higher in premarket trading.
The football club posted adjusted earnings per share of £0.03, outperforming analyst expectations for a break-even result.
Manchester United shares climbed 7.61% in premarket trading following the earnings announcement.
Quarterly revenue increased to £189.5 million, beating analyst forecasts of £164 million and rising 18.1% from £160.5 million recorded in the same period last year.
The club also raised its full-year fiscal 2026 revenue guidance to between £655 million and £665 million. The midpoint of £660 million sits above analyst consensus estimates of £653.4 million.
Manchester United further upgraded its adjusted EBITDA forecast for the year to a range of £200 million to £210 million.
Chief executive Omar Berrada said, “We feel very positive about the club’s progress this season and the continuing positive impact of our business transformation initiatives.”
“Finishing third in the Premier League and securing qualification to next season’s UEFA Champions League is testament to our men’s team’s improved form on the pitch.”
For the nine months ended March 31, 2026, Manchester United generated operating profit of £37.7 million, compared with an operating loss of £3.2 million in the same period a year earlier.
The improvement was driven by cost-reduction measures and stronger Premier League performance. Adjusted EBITDA for the nine-month period increased 29.0% to £187.5 million from £145.3 million.
Broadcasting revenue rose 57.1% during the quarter to £64.9 million, supported by the club’s stronger expected Premier League finishing position.
Commercial revenue increased 10.3% to £82.4 million, while matchday revenue declined 5.2% to £42.2 million due to three fewer home games compared with the previous year.
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