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 June 30, 2025 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 ot ...

Exhibit 99.1 ATLANTA BRAVES HOLDINGS REPORTS SECOND QUARTER 2025 FINANCIAL RESULTS Atlanta, Georgia, August 7, 2025 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported results for its second quarter ended June 30, 2025. Highlights include: Discussion of Results | | Three months ended | | | | | Six months ended | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | June 30, | | | | | June 30, | | | | | | 2025 | 2024 | % Change | | 2025 | 2024 | % Change | | | | amounts in ...

Group 1 - Atlanta Braves Holdings (NASDAQ: BATRA, NASDAQ: BATRK, OTCQB: BATRB) has outperformed the market by approximately 2% since the previous article published in March [1] - The financial markets are considered efficient, with most stocks reflecting their real current value, suggesting that the best investment opportunities arise from less-followed stocks or those mispriced in their markets [1] Group 2 - The analyst holds a beneficial long position in BATRA through stock ownership, options, or other derivatives, indicating a personal investment interest in the company [2]

Industry Overview - The Zacks Media Conglomerates industry is thriving due to the consumer shift towards over-the-top (OTT) content, with major players like Disney, Atlanta Braves Holdings, and Madison Square Garden Entertainment investing heavily in original content to attract Gen Z and millennial subscribers [1][2] - The industry's growth is supported by cost-effective alternative packages, such as skinny bundles, which offer lower prices compared to traditional offerings [1] - Challenges include declining broadcast television ratings, reduced demand for home entertainment sales, and advertisers' cautious spending amid inflation and high interest rates [1][2] Trends Impacting the Industry - Original content is driving growth as media companies adapt to consumer preferences for subscription services over traditional pay-TV, leading to increased opportunities for targeted advertising [3] - The demand for high-speed internet is a key catalyst, enhancing the consumption of high-quality videos and binge-watching trends, particularly in international markets with a growing broadband ecosystem [4] - The industry faces difficulties from cord-cutting trends and the maturation of the pay-TV sector, which has led to increased competition from streaming services [5] Industry Performance - The Zacks Media Conglomerates industry ranks 44 within the broader Zacks Consumer Discretionary sector, placing it in the top 18% of over 245 Zacks industries, indicating positive earnings outlook [6][8] - Despite this ranking, the industry has underperformed compared to the broader sector and the S&P 500, returning 4.9% over the past year versus 15.8% for the sector and 10% for the S&P 500 [9] Valuation Metrics - The industry is currently trading at a trailing 12-month price-to-sales (P/S) ratio of 1.51X, significantly lower than the S&P 500's 5.33X and the sector's 2.28X, suggesting potential undervaluation [12] Company Highlights - **Atlanta Braves Holdings**: Reported a 27% year-over-year revenue growth to $47 million, with baseball revenues up 30% to $29 million. The company has a strong cash position of $244.7 million and access to $275 million in liquidity [15][17] - **Disney**: Achieved profitability for Disney+ and Hulu with a combined subscription base of 180.7 million. The company is trading at a discounted P/E ratio of 19.25, with projected 16% EPS growth for fiscal 2025 [20][22] - **Madison Square Garden Entertainment**: Revenues increased by 6% to $242.5 million, with adjusted operating income surging 50% to $57.9 million. The company is well-positioned for continued growth with diverse revenue streams and strong advance sales for upcoming events [25][27]

Revenue Performance - Total revenue for the three months ended March 31, 2025, was $47.211 million, an increase of 27.4% compared to $37.080 million in the same period of 2024[132]. - Baseball revenue increased to $28.621 million in Q1 2025, up 30.2% from $21.970 million in Q1 2024, primarily driven by a $2.2 million increase in broadcasting revenue[133]. - Mixed-Use Development revenue rose to $18.590 million, a 23.8% increase from $15.110 million in the prior year, mainly due to a $3.1 million increase in rental income[134]. Operating Performance - Operating loss decreased to $44.452 million in Q1 2025, improving by $7.9 million from a loss of $52.355 million in Q1 2024[139]. - Adjusted OIBDA improved to a loss of $28.549 million in Q1 2025, a $5.2 million increase compared to a loss of $33.754 million in Q1 2024[140]. - Baseball operating costs increased by $3.6 million in Q1 2025, primarily due to a $1.1 million rise in major league player salaries[135]. - Selling, general and administrative expenses rose by $1.2 million in Q1 2025, attributed to increased personnel costs[137]. - Stock-based compensation decreased by $1.1 million in Q1 2025, reflecting a reduction in outstanding awards[138]. Net Loss - The company reported a net loss of $41.391 million for Q1 2025, compared to a net loss of $51.272 million in Q1 2024[132]. - The Company's net losses were $41.4 million for the three months ended March 31, 2025, an improvement from net losses of $51.3 million in the same period of the prior year[146]. Tax and Cash Position - The Company's effective tax provision increased by $8.5 million for the three months ended March 31, 2025, compared to the same period in the prior year[145]. - The Company's cash and cash equivalents totaled $244.7 million as of March 31, 2025, primarily invested in U.S. Treasury securities and other highly rated financial instruments[147]. Debt and Credit Facilities - As of March 31, 2025, the Company had $259.9 million in floating rate debt with a weighted average interest rate of 6.2%[158]. - The Company had $442.6 million in fixed rate debt with a weighted average interest rate of 4.4% as of March 31, 2025[158]. - The maximum amount available under the League Wide Credit Facility (LWCF) was $125.0 million as of March 31, 2025, which remains undrawn[151]. - The MLB Facility Fund Revolver had a maximum availability of $38.5 million as of March 31, 2025, and was fully drawn[152]. - The TeamCo Revolver provides revolving commitments of $150.0 million, with full availability as of March 31, 2025[153]. Adjusted OIBDA - Baseball Adjusted OIBDA increased by $2.1 million for the three months ended March 31, 2025, compared to the same period in the prior year[141]. - Mixed-Use Development Adjusted OIBDA increased by $3.0 million for the three months ended March 31, 2025, compared to the same period in the prior year[141]. Corporate Structure - The company completed a tax-free Split-Off transaction on July 18, 2023, transitioning to a standalone public company[124].

Core Insights - Atlanta Braves Holdings reported a quarterly loss of $0.66 per share, which is better than the Zacks Consensus Estimate of a loss of $0.94, and an improvement from a loss of $0.83 per share a year ago [1] - The company achieved an earnings surprise of 29.79%, having previously reported a loss of $0.31 per share against an expected loss of $0.69 per share, resulting in a surprise of 55.07% [2] - Revenues for the quarter ended March 2025 were $47.21 million, exceeding the Zacks Consensus Estimate by 34.12%, compared to $37.08 million in the same quarter last year [3] Financial Performance - Over the last four quarters, Atlanta Braves Holdings has surpassed consensus EPS estimates three times [2] - The current consensus EPS estimate for the upcoming quarter is $0.46 on revenues of $285.5 million, and for the current fiscal year, it is -$0.54 on revenues of $680.84 million [8] Market Position - Atlanta Braves Holdings shares have increased by approximately 5.9% since the beginning of the year, contrasting with a decline of -3.8% in the S&P 500 [4] - The company currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Industry Context - The Media Conglomerates industry, to which Atlanta Braves Holdings belongs, is currently ranked in the top 20% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]

Revenue Performance - Total revenue for Q1 2025 reached $47.2 million, a 27% increase from $37.1 million in Q1 2024[5] - Baseball revenue increased by 30% to $28.6 million, driven by a rise in broadcasting revenue and events held at Truist Park[7] - Mixed-use development revenue grew 23% to $18.6 million, primarily due to increased rental income and higher parking and sponsorship revenue[8] - Total revenue for Q1 2025 was $47,211,000, an increase of 27.4% compared to $37,080,000 in Q1 2024[27] - Baseball revenue increased to $28,621,000 in Q1 2025, up 30.5% from $21,970,000 in Q1 2024[27] - Mixed-use development revenue rose to $18,590,000, a 23.8% increase from $15,110,000 in the same period last year[27] Financial Performance - Adjusted OIBDA improved to $(28.5) million, a 15% increase from $(33.8) million in the prior year[5] - Operating income loss decreased to $(44.5) million, compared to $(52.4) million in Q1 2024, reflecting improved revenue performance[9] - Operating loss for Q1 2025 was $44,452,000, an improvement from a loss of $52,355,000 in Q1 2024[27] - Net loss for Q1 2025 was $41,391,000, compared to a net loss of $51,272,000 in Q1 2024, reflecting a 19.2% reduction in losses[27] Cash and Debt Management - Cash increased by $135 million during Q1 2025, resulting in total cash of $244.7 million[21] - Total debt rose to $699.5 million, up from $617.1 million at the end of 2024, primarily due to borrowings for mixed-use development projects[22] - Cash and cash equivalents increased to $244,679,000 as of March 31, 2025, up from $110,144,000 at the end of 2024[25] - The company reported a net increase in cash, cash equivalents, and restricted cash of $154,392,000 for Q1 2025, compared to $71,300,000 in Q1 2024[28] Asset and Liability Overview - Total assets grew to $1,681,439,000 as of March 31, 2025, compared to $1,523,846,000 at the end of 2024, marking a 10.3% increase[25] - Total liabilities increased to $1,183,273,000 as of March 31, 2025, up from $987,622,000 at the end of 2024[26] Operational Highlights - Mixed-use development generated $13 million of Adjusted OIBDA, a 30% increase from the prior year[5] - Baseball operating costs increased by 8% to $(48.8) million, largely due to higher player salaries and shared expenses[9] - The Braves recorded seven sellout games through the first three homestands of the season, indicating strong fan engagement[5] Cash Flow from Operations - Net cash provided by operating activities was $95,770,000 for Q1 2025, compared to $91,064,000 in Q1 2024[28]

The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Atlanta Braves Holdings (BATRK) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Atlanta Braves Holdings is a member of our Consumer Discretionary group, which includes 257 different companies and ...

Company Overview - Atlanta Braves Holdings (BATRK) shares increased by 5.4% to close at $38.08, following a notable trading volume, contrasting with a 7.7% loss over the past four weeks [1] - The company is expected to report a quarterly loss of $0.94 per share, reflecting a year-over-year decline of 13.3%, with revenues projected at $35.2 million, down 5.1% from the previous year [3] Recent Developments - The Braves Development Company has acquired Pennant Park, a six-building office complex, which is anticipated to be immediately accretive due to strong tenant credit and over 80% occupancy [2] - The acquisition is viewed as a strategic move to enhance the real estate portfolio of Atlanta Braves Holdings [2] Earnings Estimates and Market Position - The consensus EPS estimate for the upcoming quarter has remained unchanged over the last 30 days, indicating a lack of upward revisions which typically correlate with stock price movements [4] - Atlanta Braves Holdings currently holds a Zacks Rank of 1 (Strong Buy), suggesting positive market sentiment [4]

Atlanta Braves Holdings (BATRK) closed the last trading session at $39.58, gaining 0% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $51.67 indicates a 30.6% upside potential.The average comprises three short-term price targets ranging from a low of $45 to a high of $58, with a standard deviation of $6.51. While the lowest estimate indicates an increase of 13.7% from the current p ...