Atlanta Braves (BATRA)

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Atlanta Braves (BATRA) - 2024 Q2 - Quarterly Results
2024-08-08 20:22
Exhibit 99.1 ATLANTA BRAVES HOLDINGS REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS Englewood, Colorado, August 8, 2024 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported second quarter 2024 results. Headlines include: ● Total revenue grew 5% to $283 million in second quarter o Baseball revenue up 4% to $266 million o Mixed-use development revenue up 11% to $17 million ● Operating income up 28% to $25 million and Adjusted OIBDA(1) up 9% to $46 million in second quarter ● Announced ...
Atlanta Braves (BATRA) - 2024 Q2 - Quarterly Report
2024-08-08 20:13
Revenue Performance - Baseball revenue for the three months ended June 30, 2024, was $266.0 million, an increase of 4.2% from $254.9 million in the same period of 2023[136]. - Mixed-Use Development revenue increased to $16.9 million for the three months ended June 30, 2024, up 11.1% from $15.2 million in the prior year[136]. - Total revenue for the three months ended June 30, 2024, reached $282.9 million, a 4.1% increase compared to $270.1 million in the same period of 2023[136]. Income and Earnings - Operating income for the three months ended June 30, 2024, was $24.9 million, compared to $19.5 million in the same period of 2023, reflecting a 27.5% increase[136]. - Net earnings for the three months ended June 30, 2024, were $29.1 million, a significant recovery from a net loss of $28.9 million in the same period of 2023[136]. - Adjusted OIBDA for the three months ended June 30, 2024, was $45.8 million, up from $41.9 million in the same period of 2023[136]. Costs and Expenses - Baseball operating costs increased by $9.6 million for the three months ended June 30, 2024, primarily due to higher player salaries and MLB revenue sharing costs[141]. - Mixed-Use Development costs rose by $0.1 million for the three months ended June 30, 2024, attributed to general repair expenses[142]. - Stock-based compensation increased by $0.6 million and $1.1 million for the three and six months ended June 30, 2024, respectively, compared to the prior year[145]. - Interest expense increased by $0.3 million and $0.8 million during the three and six months ended June 30, 2024, respectively, due to increased interest rates on variable rate debt[150]. Attendance and Future Outlook - The average number of attendees per regular season home game decreased to 30,837 in the three months ended June 30, 2024, from 32,556 in the same period of 2023[136]. - The company anticipates continued growth in both baseball and mixed-use development segments, driven by new sponsorship agreements and increased attendance at events[140]. Financial Position - As of June 30, 2024, the company had $121.2 million in cash and cash equivalents, primarily invested in highly rated financial instruments[155]. - The maximum amount available under the League Wide Credit Facility was $125.0 million as of June 30, 2024, which remains undrawn[159]. - The company had $118.0 million in floating rate debt with a weighted average interest rate of 7.1% and $485.2 million in fixed rate debt with a weighted average interest rate of 4.4% as of June 30, 2024[166]. Internal Controls and Stock Activity - There has been no change in the Company's internal control over financial reporting during the three months ended June 30, 2024[168]. - No common stock repurchases occurred during the three months ended June 30, 2024[171]. - No shares of Atlanta Braves Holdings common stock were surrendered by officers and employees for tax payments during the three months ended June 30, 2024[171].
Atlanta Braves Holdings, Inc. (BATRA) Surpasses Q2 Earnings Estimates
ZACKS· 2024-08-08 14:35
Atlanta Braves Holdings, Inc. (BATRA) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.20%. A quarter ago, it was expected that this company would post a loss of $0.64 per share when it actually produced a loss of $0.83, delivering a surprise of -29.69%.Over the last four quarters, the ...
Is The Options Market Predicting a Spike In Atlanta Braves Holdings (BATRA) Stock?
ZACKS· 2024-06-20 13:50
Investors in Atlanta Braves Holdings, Inc. (BATRA) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 16, 2024 $35 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It ...
Atlanta Braves (BATRA) - 2024 Q1 - Quarterly Results
2024-05-08 19:27
Exhibit 99.1 Regular season home games in period — — ATLANTA BRAVES HOLDINGS REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Englewood, Colorado, May 8, 2024 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported first quarter 2024 results. Headlines include: ● Total revenue grew 20% to $37 million in first quarter o Baseball revenue up 25% to $22 million o Mixed-use development revenue up 13% to $15 million ● Mixed-use development generated $10 million of Adjusted OIBDA(1) in first quar ...
Atlanta Braves (BATRA) - 2024 Q1 - Quarterly Report
2024-05-08 19:17
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41746 ATLANTA BRAVES HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Nevada 92-1284827 (State or o ...
Buffett's Hidden Gems: 3 Top Stocks to Snag in Q1
InvestorPlace· 2024-02-29 20:59
Historically, Warren Buffett has focused on high-performance, well-established American banking, insurance and staples stocks. Often buying names that pay investors significant dividends. In recent years, however, he has become more diversified, buying shares of some tech stocks and a number of developing-market plays. As an investor who believes that buying growth stocks, overseas equities and turnaround plays can be much more profitable than focusing on U.S. value plays and staple producers, I certainly e ...
Atlanta Braves (BATRA) - 2023 Q4 - Earnings Call Transcript
2024-02-28 20:07
The Liberty Braves Group (NASDAQ:BATRA) Q4 2023 Earnings Conference Call February 28, 2024 10:00 AM ET Company Participants Shane Kleinstein - Senior Vice President, Investor Relations Gregory Maffei - President and Chief Executive Officer Stefano Domenicali - President and Chief Executive Officer of Formula One Brian Wendling - Chief Accounting and Principal Financial Officer Renee Wilm - Chief Legal and Admin Officer, Liberty Broadband Derek Schiller - President and CEO of the Atlanta Braves Conference Ca ...
Atlanta Braves (BATRA) - 2023 Q4 - Annual Results
2024-02-28 16:00
Exhibit 99.1 ATLANTA BRAVES HOLDINGS REPORTS FOURTH QUARTER AND YEAR END 2023 FINANCIAL RESULTS Englewood, Colorado, February 28, 2024 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported fourth quarter and year end 2023 results. Headlines include (1): ● Total revenue grew 9% to $641 million in 2023 o Baseball revenue up 9% to $582 million o Mixed-use development revenue up 10% to $59 million ● Mixed-use development generated $39 million of Adjusted OIBDA(2) in 2023 ● Extended Alex ...
Atlanta Braves (BATRA) - 2023 Q4 - Annual Report
2024-02-28 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41746 ATLANTA BRAVES HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Nevada (State or other jurisdictio ...