Paramount Skydance Corporation
05/04/2026 | Press release | Distributed by Public on 05/04/2026 14:31
Q1 2026 Trending Schedules
Cover
| March Quarter 2026 Trending Schedules |
Intro
| Trending Schedules |
| Information included in these schedules has been derived from information contained in our Quarterly Report on Form 10-Q for the first quarter of 2026, Current Report on Form 8-K filed with the Securities and Exchange Commission on April 8, 2026, 2025 Annual Report on Form 10-K, and Quarterly Report on Form 10-Q for the third quarter of 2025, as well as the Quarterly Reports on Form 10-Q of our predecessor, Paramount Global, for the first and second quarters of 2025. References to "we," "us" and "our" refer to Paramount Skydance Corporation and its consolidated subsidiaries, unless the context otherwise requires. Beginning in 2026, we transitioned our reporting structure into three new segments: Studios, Direct-to-Consumer, and TV Media. In addition, we updated our segment expense allocations to better reflect how we operate and make cost decisions across the business. Certain centralized costs that were previously allocated at the segment level are now reported within corporate expenses. Segment results for 2025 in these schedules have been recast to reflect these changes. On August 7, 2025, Paramount Global and Skydance Media, LLC ("Skydance") became subsidiaries of Paramount Skydance Corporation (the "Skydance Transactions"). Our financial results are presented in two distinct periods to indicate the new basis of accounting established for Paramount Global's net assets upon the closing of the Skydance Transactions. The periods prior to August 7, 2025 include only Paramount Global and are identified as "Predecessor", and the periods beginning on August 7, 2025 reflect Paramount Skydance Corporation and are identified as "Successor". For additional information, please refer to Note 1 of our Annual Report on Form 10-K for the year ended December 31, 2025. In addition, in order to help investors view our results in a manner consistent with our management we are including supplemental pro forma revenues and combined amounts for the third quarter and full year 2025. These schedules contain certain financial measures that are not in accordance with accounting principles generally accepted in the United States of America ("GAAP"). As a result of the new accounting basis established upon the closing of the Skydance Transactions, the GAAP basis for our segment information for the Predecessor period is based on our previous segments. To provide information consistent with how management reviews results, the 2025 amounts by segment presented in these schedules in each of the Predecessor periods reflect amounts recast under the new segment presentation and therefore constitute a non-GAAP presentation. Reconciliations from the historical segment presentation to the new segment presentation are provided in Supplemental Disclosures Regarding Non-GAAP Financial Measures in a letter to our shareholders for the first quarter of 2026, which can be found on the Paramount Investors homepage. Other reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the body of these schedules. |
Sch. 1
| TRENDING SCHEDULES | Schedule 1 | |||||||||||||||||||
| Summarized Reported Results (GAAP) | ||||||||||||||||||||
| (unaudited; in millions, except per share amounts) | ||||||||||||||||||||
| Predecessor | Successor | |||||||||||||||||||
| Period | Period | Quarter | 3 Months | |||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | ||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 12/31/25 | 3/31/26 | |||||||||||||||
| Advertising | $ 2,513 | $ 2,152 | $ 664 | $ 1,280 | $ 2,523 | $ 2,442 | ||||||||||||||
| Affiliate and subscription | 3,397 | 3,445 | 1,400 | 2,027 | 3,402 | 3,501 | ||||||||||||||
| Theatrical | 148 | 254 | 73 | 39 | 115 | 152 | ||||||||||||||
| Licensing and other | 1,134 | 998 | 444 | 775 | 2,108 | 1,252 | ||||||||||||||
| Revenues | 7,192 | 6,849 | 2,581 | 4,121 | 8,148 | 7,347 | ||||||||||||||
| Expenses | (6,504) | (6,025) | (2,284) | (3,466) | (7,536) | (6,266) | ||||||||||||||
| Programming charges | - | - | - | - | (41) | - | ||||||||||||||
| Impairment charges | - | (157) | - | - | - | - | ||||||||||||||
| Restructuring, transaction-related items, and other corporate matters | (85) | (181) | (188) | (185) | (546) | (103) | ||||||||||||||
| Gain on dispositions | 35 | - | - | - | - | - | ||||||||||||||
| Depreciation and amortization | (88) | (87) | (29) | (226) | (364) | (362) | ||||||||||||||
| Operating income (loss) | $ 550 | $ 399 | $ 80 | $ 244 | $ (339) | $ 616 | ||||||||||||||
| Amounts attributable to Parent: | ||||||||||||||||||||
| Net earnings (loss) from continuing operations | $ 152 | $ 57 | $ (244) | $ (13) | $ (573) | $ 168 | ||||||||||||||
| Discontinued operations, net of tax | - | - | - | - | 0 | 0 | ||||||||||||||
| Net earnings (loss) attributable to Parent | $ 152 | $ 57 | $ (244) | $ (13) | $ (573) | $ 168 | ||||||||||||||
| Diluted net earnings (loss) per share attributable to Parent: (1) | ||||||||||||||||||||
| Continuing operations | $ 0.22 | $ 0.08 | $ (0.36) | $ (0.01) | $ (0.52) | $ 0.15 | ||||||||||||||
| Discontinued operations | $ - | $ - | $ - | $ - | $ - | $ - | ||||||||||||||
| Diluted net earnings (loss) per common share attributable to Parent (1) | $ 0.22 | $ 0.08 | $ (0.36) | $ (0.01) | $ (0.52) | $ 0.15 | ||||||||||||||
| Weighted average number of diluted shares outstanding | 678 | 680 | 675 | 1,098 | 1,104 | 1,118 | ||||||||||||||
| (1) Refer to Schedule 7 for further details on the calculation of reported diluted net earnings (loss) per common share attributable to Parent ("Reported EPS"). |
Sch. 2
| TRENDING SCHEDULES | Schedule 2 | |||||||||||||||||||||||
| Summarized Adjusted Results (Non-GAAP) | ||||||||||||||||||||||||
| (unaudited; in millions, except per share amounts) | ||||||||||||||||||||||||
| Predecessor | Successor | Pro Forma (1) | Successor | Pro Forma (1) | Successor | |||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | |||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | ||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | |||||||||||||||||
| Advertising | $ 2,513 | $ 2,152 | $ 664 | $ 1,280 | $ 1,944 | $ 2,523 | $ 9,132 | $ 2,442 | ||||||||||||||||
| Affiliate and subscription | 3,397 | 3,445 | 1,400 | 2,027 | 3,427 | 3,402 | 13,671 | 3,501 | ||||||||||||||||
| Theatrical | 148 | 254 | 73 | 39 | 112 | 115 | 629 | 152 | ||||||||||||||||
| Licensing and other | 1,134 | 998 | 444 | 775 | 1,231 | 2,108 | 5,962 | 1,252 | ||||||||||||||||
| Revenues | $ 7,192 | $ 6,849 | $ 2,581 | $ 4,121 | $ 6,714 | $ 8,148 | $ 29,394 | $ 7,347 | ||||||||||||||||
| Predecessor | Successor | Combined (2) | Successor | Combined (2) | Successor | |||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | |||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | ||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | |||||||||||||||||
| Expenses | $ (6,504) | $ (6,025) | $ (2,284) | $ (3,466) | $ (5,750) | $ (7,536) | $ (25,815) | $ (6,266) | ||||||||||||||||
| Adjusted EBITDA | $ 732 | $ 863 | $ 313 | $ 684 | $ 997 | $ 674 | $ 3,266 | $ 1,161 | ||||||||||||||||
| Adjusted net earnings (loss) attributable to Parent | $ 195 | $ 315 | $ (162) | $ 138 | $ (24) | $ (129) | $ 357 | $ 261 | ||||||||||||||||
| Adjusted diluted net earnings (loss) per common share attributable to Parent (1) | $ 0.29 | $ 0.46 | $ (0.24) | $ 0.12 | $ (0.12) | $ (0.12) | $ 0.52 | $ 0.23 | ||||||||||||||||
| Weighted average number of diluted shares outstanding | 678 | 680 | 675 | 1,120 | n/a | 1,104 | n/a | 1,118 | ||||||||||||||||
| (1) Pro Forma Revenues for the third quarter of 2025 and twelve months ended December 31, 2025 include the below adjustments in the applicable Predecessor period, which represent Skydance revenues after the elimination of intercompany revenues from Paramount Global. Pro Forma Revenues also reflect the combination of the Predecessor and Successor revenues during each of these periods. | ||||||||||||||||||||||||
| Period | ||||||||||||||||||||||||
| Quarter Ended | From | |||||||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | ||||||||||||||||||||||
| Licensing and other | $ 96 | $ 395 | $ 12 | |||||||||||||||||||||
| Revenues | $ 96 | $ 395 | $ 12 | |||||||||||||||||||||
| (2) Combined amounts for the third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | ||||||||||||||||||||||||
| (3) Refer to Schedule 7 for further details on the calculation of Adjusted diluted EPS attributable to Parent ("Adjusted EPS"), including a reconciliation between Reported EPS and Adjusted EPS. |
Sch. 3
| TRENDING SCHEDULES | Schedule 3 | ||||||||||||||||||||||
| Studios Financial Results | |||||||||||||||||||||||
| (unaudited; in millions) | |||||||||||||||||||||||
| Predecessor | Successor | Pro Forma (1) | Successor | Pro Forma (1) | Successor | ||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | ||||||||||||||||
| Theatrical | $ 148 | $ 254 | $ 73 | $ 39 | $ 112 | $ 115 | $ 629 | $ 152 | |||||||||||||||
| Licensing and other | 1,006 | 877 | 387 | 695 | 1,094 | 1,937 | 5,405 | 1,127 | |||||||||||||||
| Advertising | 5 | 4 | 2 | 4 | 6 | 8 | 23 | 4 | |||||||||||||||
| Revenues | $ 1,159 | $ 1,135 | $ 462 | $ 738 | $ 1,212 | $ 2,060 | $ 6,057 | $ 1,283 | |||||||||||||||
| Predecessor | Successor | Combined (2) | Successor | Combined (2) | Successor | ||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | ||||||||||||||||
| Content costs | $ 738 | $ 737 | $ 278 | $ 540 | $ 818 | $ 1,434 | $ 3,727 | $ 816 | |||||||||||||||
| Advertising and marketing | 117 | 200 | 108 | 57 | 165 | 248 | 730 | 100 | |||||||||||||||
| Other (3) | 222 | 229 | 78 | 120 | 198 | 215 | 864 | 203 | |||||||||||||||
| Expenses | $ 1,077 | $ 1,166 | $ 464 | $ 717 | $ 1,181 | $ 1,897 | $ 5,321 | $ 1,119 | |||||||||||||||
| Adjusted EBITDA | $ 82 | $ (31) | $ (2) | $ 21 | $ 19 | $ 163 | $ 233 | $ 164 | |||||||||||||||
| (1) Pro Forma Revenues for the third quarter of 2025 and twelve months ended December 31, 2025 include the below adjustments in the applicable Predecessor period, which represent Skydance revenues after the elimination of intercompany revenues from Paramount Global. Pro Forma Revenues also reflect the combination of the Predecessor and Successor revenues during each of these periods. | |||||||||||||||||||||||
| Period | |||||||||||||||||||||||
| Quarter Ended | From | ||||||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | |||||||||||||||||||||
| Licensing and other | $ 96 | $ 395 | $ 12 | ||||||||||||||||||||
| Revenues | $ 96 | $ 395 | $ 12 | ||||||||||||||||||||
| (2) Combined amounts for the third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | |||||||||||||||||||||||
| (3) Other segment expenses for our Studios segment include employee compensation; costs relating to the distribution of our content; costs for occupancy, technology, and professional services; and other costs associated with our operations. |
Sch. 4
| TRENDING SCHEDULES | Schedule 4 | ||||||||||||||||||||||
| Direct-to-Consumer Financial Results | |||||||||||||||||||||||
| (unaudited; in millions) | |||||||||||||||||||||||
| Predecessor | Successor | Pro Forma (1) | Successor | Pro Forma (1) | Successor | ||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | ||||||||||||||||
| Advertising | $ 473 | $ 494 | $ 179 | $ 300 | $ 479 | $ 553 | $ 1,999 | $ 517 | |||||||||||||||
| Affiliate and subscription | 1,678 | 1,769 | 744 | 1,043 | 1,787 | 1,756 | 6,990 | 1,881 | |||||||||||||||
| Licensing and other | - | 1 | - | 1 | 1 | - | 2 | - | |||||||||||||||
| Revenues | $ 2,151 | $ 2,264 | $ 923 | $ 1,344 | $ 2,267 | $ 2,309 | $ 8,991 | $ 2,398 | |||||||||||||||
| Predecessor | Successor | Combined (1) | Successor | Combined (1) | Successor | ||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | ||||||||||||||||
| Content costs | $ 1,230 | $ 1,114 | $ 428 | $ 546 | $ 974 | $ 1,214 | $ 4,532 | $ 1,246 | |||||||||||||||
| Advertising and marketing | 359 | 305 | 120 | 160 | 280 | 514 | 1,458 | 315 | |||||||||||||||
| Other (2) | 566 | 591 | 238 | 329 | 567 | 611 | 2,335 | 586 | |||||||||||||||
| Expenses | $ 2,155 | $ 2,010 | $ 786 | $ 1,035 | $ 1,821 | $ 2,339 | $ 8,325 | $ 2,147 | |||||||||||||||
| Adjusted EBITDA | $ (4) | $ 254 | $ 137 | $ 309 | $ 446 | $ (30) | $ 666 | $ 251 | |||||||||||||||
| Paramount+ (Global) | |||||||||||||||||||||||
| Subscribers (3) | 77.8 | 76.8 | n/a | n/a | 77.9 | 78.9 | 78.9 | 79.6 | |||||||||||||||
| Revenues | $ 1,686 | $ 1,771 | $ 709 | $ 1,060 | $ 1,769 | $ 1,837 | $ 7,063 | $ 1,974 | |||||||||||||||
| (1) The third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | |||||||||||||||||||||||
| (2) Other segment expenses for our Direct-to-Consumer segment include employee compensation; revenue-sharing costs, including for third-party distribution; costs for occupancy, technology, and professional services; and other costs associated with our operations. | |||||||||||||||||||||||
| (3) Subscribers include customers who are registered for Paramount+, either directly through our owned and operated apps and websites, or through third-party distributors. Subscribers also include customers who are provided with access through a subscription bundle with a domestic linear video streaming service (vMVPD) or an international third-party distributor. Our subscriber count includes only paid subscriptions and reflects the number of subscribers as of the applicable period-end date. |
Sch. 5
| TRENDING SCHEDULES | Schedule 5 | ||||||||||||||||||||||
| TV Media Financial Results | |||||||||||||||||||||||
| (unaudited; in millions) | |||||||||||||||||||||||
| Predecessor | Successor | Pro Forma (1) | Successor | Pro Forma (1) | Successor | ||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | ||||||||||||||||
| Advertising | $ 2,036 | $ 1,655 | $ 484 | $ 977 | $ 1,461 | $ 1,966 | $ 7,118 | $ 1,921 | |||||||||||||||
| Affiliate and subscription | 1,719 | 1,676 | 656 | 984 | 1,640 | 1,646 | 6,681 | 1,620 | |||||||||||||||
| Licensing and other | 129 | 123 | 58 | 81 | 139 | 187 | 578 | 125 | |||||||||||||||
| Revenues | $ 3,884 | $ 3,454 | $ 1,198 | $ 2,042 | $ 3,240 | $ 3,799 | $ 14,377 | $ 3,666 | |||||||||||||||
| Predecessor | Successor | Combined (1) | Successor | Combined (1) | Successor | ||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | ||||||||||||||||
| Content costs | $ 1,896 | $ 1,576 | $ 504 | $ 903 | $ 1,407 | $ 1,871 | $ 6,750 | $ 1,719 | |||||||||||||||
| Advertising and marketing | 133 | 100 | 52 | 52 | 104 | 172 | 509 | 80 | |||||||||||||||
| Other (2) | 904 | 866 | 357 | 527 | 884 | 881 | 3,535 | 812 | |||||||||||||||
| Expenses | $ 2,933 | $ 2,542 | $ 913 | $ 1,482 | $ 2,395 | $ 2,924 | $ 10,794 | $ 2,611 | |||||||||||||||
| Adjusted EBITDA | $ 951 | $ 912 | $ 285 | $ 560 | $ 845 | $ 875 | $ 3,583 | $ 1,055 | |||||||||||||||
| (1) The third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | |||||||||||||||||||||||
| (2) Other segment expenses for our TV Media segment include employee compensation; revenue-sharing costs to television stations affiliated with the CBS Television Network; costs relating to the distribution of our content; costs for research, occupancy, technology, and professional services; and other costs associated with our operations. |
Sch. 6
| TRENDING SCHEDULES | Schedule 6 | |||||||||||||||||||||||
| Reconciliation of Adjusted EBITDA (Non-GAAP) | ||||||||||||||||||||||||
| (unaudited; in millions) | ||||||||||||||||||||||||
| Predecessor | Successor | Combined (1) | Successor | Combined (1) | Successor | |||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | |||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | ||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | |||||||||||||||||
| Studios | $ 82 | $ (31) | $ (2) | $ 21 | $ 19 | $ 163 | $ 233 | $ 164 | ||||||||||||||||
| Direct-to-Consumer | (4) | 254 | 137 | 309 | 446 | (30) | 666 | 251 | ||||||||||||||||
| TV Media | 951 | 912 | 285 | 560 | 845 | 875 | 3,583 | 1,055 | ||||||||||||||||
| Corporate/Eliminations | (297) | (272) | (107) | (206) | (313) | (334) | (1,216) | (309) | ||||||||||||||||
| Adjusted EBITDA | 732 | 863 | 313 | 684 | 997 | 674 | 3,266 | 1,161 | ||||||||||||||||
| Depreciation and amortization | (88) | (87) | (29) | (226) | (255) | (364) | (794) | (362) | ||||||||||||||||
| Stock-based compensation | (44) | (39) | (16) | (29) | (45) | (62) | (190) | (80) | ||||||||||||||||
| Programming charges (2) | - | - | - | - | - | (41) | (41) | - | ||||||||||||||||
| Impairment charges (2) | - | (157) | - | - | - | - | (157) | - | ||||||||||||||||
| Restructuring, transaction-related items, and other corporate matters (2) | (85) | (181) | (188) | (185) | (373) | (546) | (1,185) | (103) | ||||||||||||||||
| Gain on dispositions (2) | 35 | - | - | - | - | - | 35 | - | ||||||||||||||||
| Interest expense, net | (179) | (182) | (72) | (114) | (186) | (188) | (735) | (200) | ||||||||||||||||
| Loss from investment | - | - | - | - | - | (40) | (40) | - | ||||||||||||||||
| Other items, net | (37) | (39) | (16) | (8) | (24) | (31) | (131) | (24) | ||||||||||||||||
| (Provision for) benefit from income taxes | (100) | (50) | 229 | (85) | 144 | 125 | 119 | (155) | ||||||||||||||||
| Equity in loss of investee companies, net of tax | (73) | (67) | (31) | (33) | (64) | (71) | (275) | (62) | ||||||||||||||||
| Net earnings (loss) (Parent and noncontrolling interests) | 161 | 61 | 190 | 4 | 194 | (544) | (128) | 175 | ||||||||||||||||
| Net earnings attributable to noncontrolling interests | (9) | (4) | (434) | (17) | (451) | (29) | (493) | (7) | ||||||||||||||||
| Net earnings (loss) attributable to Parent | $ 152 | $ 57 | $ (244) | $ (13) | $ (257) | $ (573) | $ (621) | $ 168 | ||||||||||||||||
| (1) The third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | ||||||||||||||||||||||||
| (2) See Schedule 8 for a description of these items affecting comparability. |
Sch. 7
| TRENDING SCHEDULES | Schedule 7 | |||||||||||||||||||||||
| Reconciliation of Adjusted Net Earnings (Loss) and Diluted EPS (Non-GAAP) | ||||||||||||||||||||||||
| (unaudited; in millions, except per share amounts) | ||||||||||||||||||||||||
| Predecessor | Successor | Combined (1) | Successor | Combined (1) | Successor | |||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | |||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | ||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | |||||||||||||||||
| Net earnings (loss) attributable to Parent: | ||||||||||||||||||||||||
| Reported net earnings (loss) | $ 152 | $ 57 | $ (244) | $ (13) | $ (257) | $ (573) | $ (621) | $ 168 | ||||||||||||||||
| Impact of adjustments on net earnings (loss) (2) | 43 | 258 | 82 | 151 | 233 | 444 | 978 | 93 | ||||||||||||||||
| Adjusted net earnings (loss) | $ 195 | $ 315 | $ (162) | $ 138 | $ (24) | $ (129) | $ 357 | $ 261 | ||||||||||||||||
| Per share information attributable to Parent: | ||||||||||||||||||||||||
| Reported diluted earnings (loss) per share | $ 0.22 | $ 0.08 | $ (0.36) | $ (0.01) | $ (0.37) | $ (0.52) | $ (0.58) | $ 0.15 | ||||||||||||||||
| Impact of adjustments on diluted earnings (loss) per share (2) | 0.07 | 0.38 | 0.12 | 0.13 | 0.25 | 0.40 | 1.10 | 0.08 | ||||||||||||||||
| Adjusted diluted EPS | $ 0.29 | $ 0.46 | $ (0.24) | $ 0.12 | $ (0.12) | $ (0.12) | $ 0.52 | $ 0.23 | ||||||||||||||||
| Weighted average number of diluted shares outstanding, reported (3) | 678 | 680 | 675 | 1,098 | n/a | 1,104 | n/a | 1,118 | ||||||||||||||||
| Weighted average number of diluted shares outstanding, adjusted | 678 | 680 | 675 | 1,120 | n/a | 1,104 | n/a | 1,118 | ||||||||||||||||
| (1) The third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | ||||||||||||||||||||||||
| (2) See Schedule 8 for a description of items affecting comparability of net earnings (loss) and diluted EPS. | ||||||||||||||||||||||||
| (3) For periods when we reported a net loss the dilutive impact to shares for Reported EPS is excluded because it would be antidilutive. |
Sch. 8
| TRENDING SCHEDULES | Schedule 8 | |||||||||||||||||||||||
| Items Affecting Comparability | ||||||||||||||||||||||||
| (unaudited; in millions, except per share amounts) | ||||||||||||||||||||||||
| Predecessor | Successor | Combined (1) | Successor | Combined (1) | Successor | |||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | |||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | ||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | |||||||||||||||||
| Programming charges (2) | $ - | $ - | $ - | $ - | $ - | $ 41 | $ 41 | $ - | ||||||||||||||||
| Impairment charges (3) | - | 157 | - | - | - | - | 157 | - | ||||||||||||||||
| Restructuring, transaction-related items, and other corporate matters (4) | 85 | 181 | 188 | 185 | 373 | 546 | 1,185 | 103 | ||||||||||||||||
| Gain on dispositions (5) | (35) | - | - | - | - | - | (35) | - | ||||||||||||||||
| Gain on extinguishment of debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | ||||||||||||||||
| Loss from investments (6) | - | - | - | - | - | 40 | 40 | - | ||||||||||||||||
| Impact of adjustments on earnings (loss) before income taxes | 50 | 338 | 188 | 185 | 373 | 627 | 1,388 | 103 | ||||||||||||||||
| Income tax impact of above items (7) | (14) | (82) | (33) | (30) | (63) | (155) | (314) | (6) | ||||||||||||||||
| Discrete tax items (8) | 7 | 2 | (73) | (4) | (77) | (28) | (96) | (4) | ||||||||||||||||
| Impact of adjustments on income taxes | (7) | (80) | (106) | (34) | (140) | (183) | (410) | (10) | ||||||||||||||||
| Impact of adjustments on net earnings (loss) attributable to Parent | $ 43 | $ 258 | $ 82 | $ 151 | $ 233 | $ 444 | $ 978 | $ 93 | ||||||||||||||||
| Impact of adjustments on diluted EPS attributable to Parent | $ 0.07 | $ 0.38 | $ 0.12 | $ 0.13 | $ 0.25 | $ 0.40 | $ 1.10 | $ 0.08 | ||||||||||||||||
| (1) The third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | ||||||||||||||||||||||||
| (2) In the fourth quarter of 2025, we abandoned certain Skydance content, principally development projects, in connection with a review of our content portfolio following the closing of the Skydance Transactions. | ||||||||||||||||||||||||
| (3) The second quarter of 2025 reflects charges to reduce the carrying value of intangible assets to their fair value. | ||||||||||||||||||||||||
| (4) Reflects severance costs, lease impairments, transaction-related items, and other corporate matters. | ||||||||||||||||||||||||
| (5) Primarily reflects a gain recognized upon the disposition of a noncore business. | ||||||||||||||||||||||||
| (6) Reflects fair value adjustments to our investments. | ||||||||||||||||||||||||
| (7) The tax impact has been calculated by applying the tax rates applicable to the adjustments presented. | ||||||||||||||||||||||||
| (8) Includes the net discrete tax expense or (benefit) related to valuation allowance changes, the establishment of a reserve for uncertain tax positions, the resolution of income tax matters, amounts realized in connection with the filing of tax returns, and tax expense or (excess benefit) from the vesting of stock-based compensation awards, among others. |
Sch. 9
| TRENDING SCHEDULES | Schedule 9 | ||||||||||||||||||||||||
| Free Cash Flow (Non-GAAP) | |||||||||||||||||||||||||
| (unaudited; in millions) | |||||||||||||||||||||||||
| Predecessor | Successor | Combined (1) | Successor | Combined (1) | Successor | ||||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||||
| 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | ||||||||||||||||||
| Net cash flow provided by (used for) operating activities | $ 180 | $ 159 | $ (175) | $ 268 | $ 93 | $ 217 | $ 649 | $ 185 | |||||||||||||||||
| Capital expenditures | (57) | (45) | (32) | (46) | (78) | (116) | (296) | (89) | |||||||||||||||||
| Free cash flow | $ 123 | $ 114 | $ (207) | $ 222 | $ 15 | $ 101 | $ 353 | $ 96 | |||||||||||||||||
| Predecessor | Successor | ||||||||||||||||||||||||
| Quarter | |||||||||||||||||||||||||
| Quarter Ended | Quarter Ended | Ended | |||||||||||||||||||||||
| 3/31/25 | 6/30/25 | 9/30/25 | 12/31/25 | 3/31/26 | |||||||||||||||||||||
| Debt | $ 14,507 | $ 14,514 | $ 13,633 | $ 13,658 | $ 15,483 | ||||||||||||||||||||
| Less: Cash and cash equivalents | 2,673 | 2,739 | 3,263 | 3,274 | 1,941 | ||||||||||||||||||||
| Net debt | $ 11,834 | $ 11,775 | $ 10,370 | $ 10,384 | $ 13,542 | ||||||||||||||||||||
| Predecessor | Successor | Combined (1) | Successor | Combined (1) | Successor | ||||||||||||||||||||
| Period | Period | Quarter | Quarter | 12 Months | Quarter | ||||||||||||||||||||
| Quarter Ended | From | From | Ended | Ended | Ended | Ended | |||||||||||||||||||
| Supplemental Cash Flow Information | 3/31/25 | 6/30/25 | 7/1/25 - 8/6/25 | 8/7/25 - 9/30/25 | 9/30/25 | 12/31/25 | 12/31/25 | 3/31/26 | |||||||||||||||||
| Payments for restructuring, transaction-related items, and transformation initiatives (2) | $ 108 | $ 71 | $ 49 | $ 81 | $ 130 | $ 153 | $ 462 | $ 181 | |||||||||||||||||
| (1) The third quarter of 2025 and twelve months ended December 31, 2025 each reflect the combination of the Predecessor and Successor amounts during the period, which is supplementally presented to help investors view these amounts in a manner consistent with our management. | |||||||||||||||||||||||||
| (2) Free cash flow includes payments for restructuring, transaction-related items, and transformation initiatives, including the unification and evolution of systems and platforms, and migration to the cloud. |
Paramount Skydance Corporation published this content on May 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 04, 2026 at 20:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]