The Zacks Media Conglomerates industry is flourishing, driven by the consumer shift toward over-the-top (OTT) content. Major players like Madison Square Garden Entertainment (MSGE) , Sinclair (SBGI) and Reservoir Media (RSVR) are aggressively investing in developing original music, shows and fresh content to captivate and retain Gen Z and millennial subscribers. Moreover, the industry's prospects are bolstered by the availability of cost-effective alternative packages, such as skinny bundles, designed to en ...

Key Takeaways Madison Square Garden Entertainment had a surprise fourth-quarter profit as event and food, beverage, and merchandise revenue increased. The owner of Madison Square Garden benefited from more concerts and the Knicks and Rangers both making the playoffs. The news sent shares higher Friday. Shares of Madison Square Garden Entertainment (MSGE) hit an all-time high Friday as the New York-based company reported a surprise fourth-quarter profit on higher revenue from events and purchases by fans of ...

Madison Square Garden Entertainment (MSGE) came out with quarterly earnings of $1.41 per share, beating the Zacks Consensus Estimate of a loss of $0.57 per share. This compares to loss of $0.47 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 347.37%. A quarter ago, it was expected that this live entertainment company would post earnings of $0.05 per share when it actually produced earnings of $0.06, delivering a surprise of 2 ...

Financial Performance - Fiscal 2024 revenues reached $959.3 million, an increase of $107.8 million or 13% compared to the prior year, exceeding the high-end of guidance range[1] - Fiscal 2024 operating income was $111.9 million, up $6.9 million or 7% year-over-year, and adjusted operating income was $211.5 million, an increase of $9.9 million or 5%[1][2] - In Q4 2024, revenues were $186.1 million, a 26% increase from $147.9 million in Q4 2023, with an operating loss of $8.9 million improving by $12.9 million[2][7] - Q4 2024 revenues from entertainment offerings were $142.9 million, a 20% increase, driven by higher event-related revenues and suite license fee revenues[3] - Revenues from entertainment offerings reached $142.9 million, a 19% increase compared to $119.6 million in the prior year[13] - Net income attributable to MSG Entertainment's stockholders for the three months ended June 30, 2024, was $66.9 million, compared to a net loss of $24.5 million in the same period of 2023[13] - Adjusted operating income for the three months ended June 30, 2024, was $13.1 million, significantly up from $0.7 million in the same period of 2023[16] - The company reported a basic earnings per share of $1.42 for the three months ended June 30, 2024, compared to a loss of $0.47 in the same period of 2023[13] Guest Attendance and Events - The company hosted approximately 6.3 million guests at over 960 events during fiscal 2024, including over 1 million tickets sold for the Christmas Spectacular[1] Revenue Sources - Food, beverage, and merchandise revenues in Q4 2024 were $34.7 million, up $11.2 million or 48%, reflecting increased sales at sporting events and concerts[5] - Arena license fees and other leasing revenues in Q4 2024 were $8.5 million, a 75% increase due to more regular season games played[3] Expenses - Selling, general, and administrative expenses in Q4 2024 were $55.8 million, an increase of $3.1 million or 6% compared to the prior year[6] - Direct operating expenses associated with entertainment offerings in Q4 2024 were $99.7 million, an increase of $11.7 million or 13% year-over-year[3] - Direct operating expenses for entertainment offerings increased to $99.7 million, up from $88.0 million in the prior year[13] - The company incurred restructuring charges of $2.8 million for the three months ended June 30, 2024, compared to $0.4 million in the same period of 2023[16] Cash Flow and Assets - Cash and cash equivalents decreased to $33.6 million as of June 30, 2024, down from $84.4 million a year earlier[17] - Total assets increased to $1.55 billion as of June 30, 2024, compared to $1.40 billion in the prior year[17] - Total liabilities rose to $1.58 billion as of June 30, 2024, up from $1.47 billion in the same period of 2023[17] - Net cash provided by operating activities for the twelve months ended June 30, 2024, was $111.266 million, a decrease from $135.694 million in the previous period[19] - Net cash used in investing activities was $(62.371) million, compared to $30.305 million in the prior year, indicating a significant increase in cash outflow[19] - Net cash used in financing activities totaled $(99.695) million, an improvement from $(144.217) million in the previous period[19] - The net decrease in cash, cash equivalents, and restricted cash for the period was $(50.800) million, contrasting with an increase of $21.782 million in the prior year[19] - Cash, cash equivalents, and restricted cash at the beginning of the period were $84.355 million, while the end of the period balance dropped to $33.555 million[19] Future Outlook - The company plans to generate robust adjusted operating income growth in fiscal 2025, leveraging its unique portfolio of live entertainment offerings[1]

Shares of Madison Square Garden Entertainment Corp MSGE climbed in early trading on Wednesday. There is room for robust growth in Christmas Spectacular in fiscal 2025, despite the record performance in fiscal 2024, the analyst stated. He estimates Christmas Spectacular revenues of around $157 million for fiscal 2025, "driven by higher show-count, modest increases in sell-through, and increased ticket pricing." The Madison Square Garden Analyst: Laszczyk upgraded the rating for Madison Square Garden from Neu ...

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ________________________ (Mark One) 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: 001-41627 MADISON SQUARE GARDEN ENTERTAINMENT CORP. (Exact name of registrant as spec ...

LEGENDARY BRANDS ◼ ~67% of shares were distributed to shareholders, while 33% were retained by Sphere Entertainment Co. MADISON SQUARE GARDEN ENTERTAINMENT MAY 2024 FORWARD LOOKING STATEMENTS AND MARKET DATA Madison Square Garden Entertainment Corp. (the "Company" or "MSG Entertainment") has filed with the Securities and Exchange Commission an Annual Report on Form 10-K for the year ended June 30, 2023 (the "Annual Report") and Quarterly Reports on Form 10-Q for the quarters ended September 30, 2023, Decemb ...

MADISON SQUARE GARDEN ENTERTAINMENT CORP. REPORTS FISCAL 2024 THIRD QUARTER RESULTS FY24 Revenue Range Narrowed to $940-950 Million, as Compared to Prior Range of $930-950 Million FY24 Operating Income Range Increased to $100-110 Million, Versus Prior $95-105 Million FY24 AOI Range Increased to $200-210 Million, as Compared to $195-205 Million Previously (1) NEW YORK, N.Y., May 9, 2024 - Madison Square Garden Entertainment Corp. (NYSE: MSGE) ("MSG Entertainment" or the "Company") today reported financial re ...

Madison Square Garden Entertainment Corp. (NYSE:MSGE) Q2 2024 Earnings Conference Call February 7, 2024 10:00 AM ET Company Participants Ari Danes - SVP, IR and Treasury Phil D'Ambrosio - EVP, Treasurer and Interim Principal Financial Officer Conference Call Participants Peter Henderson - Bank of America Stephen Laszczyk - Goldman Sachs Ben Swinburne - Morgan Stanley David Karnovsky - JPMorgan Brandon Ross - LightShed Partners Logan Angress - Wolfe Research Operator Good morning. Thank you for standing by, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or fo ...