Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment opportunities Group 1: Company Earnings Estimates - Sterling Infrastructure, Inc. (STRL) has seen a nearly 14% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - CrossAmerica Partners LP (CAPL) has experienced a significant increase of 72.7% in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Atlanta Braves Holdings, Inc. (BATRA) has had a 24.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - China Yuchai International Limited (CYD) has seen a 19.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - Jazz Pharmaceuticals plc (JAZZ) has experienced a 4.8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [4]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $52.1 million, down from $67.7 million in Q4 2023, while full-year revenue increased to $662.7 million from $640.7 million in 2023 [25][26] - Adjusted OIBDA improved to negative $3.8 million in Q4 2024, up from negative $13 million in Q4 2023, indicating a reduction in operating expenses [28][29] - Operating loss for Q4 2024 was $18.6 million, improved from $32.4 million in Q4 2023, and full-year operating loss decreased to $39.8 million from $46.4 million in 2023 [29] Business Line Data and Key Metrics Changes - Baseball revenue increased to $595.4 million in 2024 from $581.7 million in 2023, driven by event and broadcasting revenue [27] - Mixed-use development revenue rose to $67.3 million in 2024 from $59 million in 2023, primarily due to increases in rental income and parking revenue [27] Market Data and Key Metrics Changes - The Battery Atlanta attracted 8.7 million visitors in 2024, generating over $130 million in retail revenue, despite fewer Braves home games and concerts [20][21] - Average visitor frequency at the Battery was 2.4 times with an average dwell time of 165 minutes per visit [21] Company Strategy and Development Direction - The company aims to enhance fan engagement through new partnerships, including streaming rights with FanDuel Sports Network and a deal with Gray Media to increase game accessibility [15][16][38] - The company is committed to providing a world-class experience at Truist Park and the Battery Atlanta, with new developments like the Children's Healthcare of Atlanta Park and the Outfield Market food hall [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the team's ability to compete for a World Series title, highlighting the return of key players from injuries [9][11] - The company views the reemergence of Main Street Sports from bankruptcy as a positive development, enhancing stability and accessibility for fans [14][36] Other Important Information - The company had $110.1 million in cash and cash equivalents as of December 31, 2024, primarily invested in highly rated financial instruments [30] Q&A Session Summary Question: Local media rights and capital structure - Management confirmed the new structure with FanDuel and Gray Media enhances broadcasting revenue growth and maintains strong local media rights [34][36] - On capital structure, management is comfortable with current debt levels and aims to maintain liquidity for investments [42][44] Question: Development opportunities and concert venues - Management indicated ongoing opportunities for development around Truist Park and plans to increase non-game day events [48][50] Question: Broadcasting rights environment - Management downplayed concerns about national broadcasting rights, asserting that the company is well-positioned regardless of market changes [56][60] Question: Social media engagement and international development - Management acknowledged the need for short-form content to engage fans and highlighted efforts to reach international audiences [66][72]

Core Insights - Atlanta Braves Holdings, Inc. reported a quarterly loss of $0.31 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.78, representing an earnings surprise of 60.26% [1] - The company posted revenues of $52.12 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 7.59% and down from $67.75 million year-over-year [2] - The stock has gained about 5% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] Earnings Outlook - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is -$1.07 on revenues of $31 million, and -$0.79 on revenues of $697 million for the current fiscal year [7] Estimate Revisions - The trend for estimate revisions for Atlanta Braves Holdings, Inc. is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] Industry Context - The Diversified Operations industry, to which Atlanta Braves Holdings, Inc. belongs, is currently in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Revenue Performance - Total revenue for the fourth quarter decreased by 23% to $52.1 million, while total revenue for the full year increased by 3% to $662.7 million[2]. - Baseball revenue for the fourth quarter decreased by 35% to $34.2 million, but increased by 2% for the full year to $595.4 million[2][5]. - Mixed-use development revenue grew by 21% in the fourth quarter to $17.9 million and by 14% for the full year to $67.3 million[2][6]. - Total revenue for the year ended December 31, 2024, was $662,748,000, an increase of 3.4% compared to $640,667,000 in 2023[23]. - Baseball revenue decreased to $34,197,000 in Q4 2024 from $52,909,000 in Q4 2023, representing a decline of 35.6%[23]. - Mixed-use development revenue increased to $17,921,000 in Q4 2024 from $14,839,000 in Q4 2023, a growth of 20.0%[23]. Financial Performance - Adjusted OIBDA improved by 71% in the fourth quarter to $(3.8) million and increased by 5% for the full year to $39.7 million[2][16]. - Operating income loss for the fourth quarter improved by 42% to $(18.6) million, while the full year loss decreased by 15% to $(39.7) million[2][16]. - Operating loss for the year ended December 31, 2024, was $39,665,000, an improvement from a loss of $46,440,000 in 2023[23]. - Net loss for the year ended December 31, 2024, was $31,268,000, compared to a net loss of $125,294,000 in 2023[24]. - The company reported a basic net loss per share of $0.50 for the year ended December 31, 2024, compared to a loss of $2.03 in 2023[23]. Cash and Debt Management - Cash increased by $9 million during the fourth quarter due to seasonal working capital changes and distributions from equity method affiliates[17]. - Debt decreased by $23 million in the fourth quarter primarily due to repayments under the TeamCo revolver[17]. - Cash and cash equivalents at the end of the period were $110,144,000, down from $125,148,000 at the end of 2023[21]. - Cash flows from operating activities for the year ended December 31, 2024, were $16,631,000, an increase from $1,626,000 in 2023[24]. Assets and Liabilities - Total assets as of December 31, 2024, were $1,523,846,000, a slight increase from $1,504,330,000 in 2023[21]. - Total liabilities as of December 31, 2024, were $987,622,000, compared to $963,688,000 in 2023[21]. Operational Highlights - The opening of a new eight-stall food hall named the Outfield Market contributed to mixed-use development revenue growth[3]. - The company experienced reduced attendance at regular season home games, impacting baseball event revenue[5].

ATLANTA, Dec. 18, 2024 (GLOBE NEWSWIRE) -- The Atlanta Braves (NASDAQ:BATRA, BATRK)) and Gray Media (NYSE:GTN) have agreed on a multi-year partnership starting in 2025 for Gray to simulcast 15 regular season games alongside FanDuel Sports Network, the Braves' rightsholder partner. The 15 regular season games will be spread across the season, and selected games will be announced at a later date.   Gray will also exclusively produce and air 10 spring training games. The deal will increase the reach of the sel ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Atlanta Braves Holdings, Inc. (BATRA) is a sports and entertainment company. The Zacks Consensus Estimate for its current year earnings has been revised 151.3% downward over the last 60 days.Baxter International Inc. (BAX) is a healthcare company. The Zacks Consensus Estimate for its current year earnings has been revised 33.1% downward over the last 60 days.Bruker Corporation (BRKR) is a scientific instruments company. The Zacks Cons ...

Revenue Performance - Total revenue for Q3 2024 reached $291 million, a 7% increase from $272 million in Q3 2023[1] - Baseball revenue increased by 7% to $273 million, while mixed-use development revenue grew by 12% to $17 million[1][3] - Total revenue for the three months ended September 30, 2024, was $290,674, an increase of 6.3% compared to $271,824 for the same period in 2023[24] - Baseball revenue for the nine months ended September 30, 2024, reached $561,233, up 6.1% from $528,762 in the prior year[24] Operating Income and Earnings - Adjusted OIBDA for Q3 2024 was $31.4 million, a decrease of 22% compared to $40.3 million in Q3 2023[3][7] - Operating income for Q3 2024 was $6.4 million, down 59% from $15.7 million in Q3 2023[3][7] - Operating income for the three months ended September 30, 2024, was $6,402, down from $15,716 in the prior year[24] - Net earnings for the three months ended September 30, 2024, were $10,020, compared to a loss of $6,047 in the same period last year[24] Costs and Expenses - Baseball operating costs increased by 14% to $226 million, primarily due to higher player salaries and MLB revenue sharing[3][7] Cash Flow and Debt - Cash decreased by $20 million in Q3 2024, while debt increased by $40 million due to borrowings for working capital[17] - Cash and cash equivalents at the end of the period were $100,852, a decrease from $125,148 at the end of the previous quarter[19] - Long-term debt decreased to $502,473 as of September 30, 2024, from $527,116 at December 31, 2023[22] - The company reported a net cash used in operating activities of $12,272 for the nine months ended September 30, 2024[26] Assets and Liabilities - Total current assets increased to $224,138 as of September 30, 2024, compared to $218,019 at December 31, 2023[19] - Total liabilities rose to $1,014,780 as of September 30, 2024, compared to $963,688 at December 31, 2023[22] - Total assets increased to $1,557,247 as of September 30, 2024, compared to $1,504,330 at December 31, 2023[20] Attendance and Games - The Atlanta Braves sold over three million tickets for the third consecutive year[2] - There were 41 home games played in Q3 2024 compared to 37 in the prior year period[3] - The team made its 7th consecutive postseason appearance[2] Mixed-Use Development - Mixed-use development revenue increased primarily due to higher parking revenue and increased rental income[6]

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 September 30, 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 ...

Financial Data and Key Metrics Changes - Total revenue increased to $291 million in Q3 2024, up from $272 million in Q3 2023 [20] - Baseball revenue rose to $273 million in Q3 2024, compared to $256 million in the prior year, driven by new sponsorship agreements and contractual rate increases [21] - Adjusted OIBDA decreased to $31 million in Q3 2024 from $40 million in the prior year, primarily due to increased operating costs [23] Business Line Data and Key Metrics Changes - Mixed-use development revenue grew to $17 million in Q3 2024, up from $16 million in the prior year, mainly due to increases in parking and rental income [22] - Operating income fell to $6 million in Q3 2024 from $16 million in the prior year due to higher baseball operating costs [22] Market Data and Key Metrics Changes - The team sold over 3 million tickets for the third consecutive year, ranking fifth highest in Major League Baseball [16] - There remains a 20,000-person waiting list for season tickets, with high renewal rates for 2025 [16] Company Strategy and Development Direction - The company is focused on enhancing the fan experience at Truist Park and the Battery Atlanta, with plans for further upgrades ahead of the 2025 season [17][18] - Management emphasizes the importance of winning and playoff participation as key drivers of value creation [35][36] - The company is exploring growth opportunities in both the ballpark and the Battery, including new media opportunities and special events [27][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the team's leadership and talent, despite falling short of winning the World Series [8] - The company is monitoring the bankruptcy proceedings of Diamond Sports Group, which could impact future revenue [17][42] - Management is optimistic about the potential for legalized sports betting in Georgia, viewing it as beneficial for the game [54] Other Important Information - The company had $100.9 million in cash and cash equivalents as of September 30, 2024, with compliance in all financial debt covenants [24] - The Atlanta Braves Foundation continues to support community initiatives, reflecting the company's commitment to its local region [12] Q&A Session Summary Question: Growth opportunities for the business - Management highlighted ongoing investments in both the ballpark and the Battery, indicating significant upside potential [27] Question: Conversion of EBITDA to free cash flow - Management noted that increasing expenses, particularly around player payroll, have impacted cash flow despite revenue growth [30] Question: Value creation strategy - Management emphasized that winning is the primary way to drive value, with a focus on increasing top-line revenue [36][37] Question: Local TV rights and Diamond Sports Group bankruptcy - Management is closely monitoring the situation and is prepared for various outcomes, believing they are in a strong position regardless [43] Question: Expansion of concert activity and real estate development - Management is exploring opportunities for more non-game day events and assessing undeveloped real estate associated with the Battery [49] Question: Commentary on sports betting - Management supports the legalization of sports betting in Georgia, viewing it as a positive development for the industry [54] Question: Media opportunities in AR and VR - Management is exploring new media opportunities but has no specific announcements at this time [56]

Atlanta Braves Holdings, Inc. (BATRA) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -54.29%. A quarter ago, it was expected that this company would post earnings of $0.41 per share when it actually produced earnings of $0.46, delivering a surprise of 12.20%.Over the last four quarters, ...