Paramount Skydance Q2 2026: Revenue up 1%, Adjusted EBITDA surges 27%, WBD Merger trial set for March 2027
PSKY is trading near its 52-week low of $7.62 (10.0% above the low).
Summary
Paramount Skydance's Q2 2026 filing reveals a 27% jump in Adjusted EBITDA to $1.1B despite flat revenue, while the WBD Merger trial is set for March 2027 and the IRS proposes up to $400M in additional taxes.
Key Events · Earnings and Guidance · PSKY
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Q2 Revenue and Earnings
Revenue of $6.91B, up 1% YoY; net earnings attributable to Parent of $41M ($0.04 diluted EPS) vs. $57M ($0.08) a year ago. Adjusted EBITDA grew 27% to $1.099B.
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WBD Merger Trial Date Set
A federal judge scheduled a 12-day antitrust trial beginning March 2, 2027, covering lawsuits from 12 states and the Writers Guild of America seeking to block the $81B acquisition of Warner Bros. Discovery.
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IRS Proposes $400M Tax Adjustment
On July 10, 2026, the IRS issued Notices of Proposed Adjustment for legacy Viacom tax years 2017-2019, potentially increasing taxes by up to $400M, excluding penalties and interest. The company disagrees and will contest.
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Liquidity and Debt
Cash and equivalents fell to $1.627B from $3.274B at year-end, largely due to the $2.8B Netflix termination fee paid for WBD. Total debt stands at $15.156B, with $1.8B drawn on a $5.0B credit facility.
Analysis · PSKY · Technology
Paramount Skydance delivered mixed Q2 results with modest revenue growth and a sharp drop in GAAP earnings, but Adjusted EBITDA surged 27% driven by cost savings and the pushdown accounting benefit. The WBD Merger remains the dominant story — the trial is now scheduled for March 2027, and the company disclosed a potential $400M IRS tax liability. The balance sheet shows $1.6B in cash against $15.2B in debt, with $1.8B drawn on a newly upsized $5B credit facility. The filing provides the first detailed look at the combined Paramount-Skydance operations and the financial strain of the pending $81B acquisition.
At the time of this filing, PSKY was trading at $8.38 on NASDAQ in the Technology sector, with a market capitalization of approximately $9.4B. The 52-week trading range was $7.62 to $20.86. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.