Madison Square Garden Entertainment (MSGE) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.78. This compares to loss of $0.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 48.72%. A quarter ago, it was expected that this live entertainment company would post a loss of $0.57 per share when it actually produced earnings of $1.41, delivering a surprise of 347.37%.Over the la ...

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Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

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]

Core Viewpoint - Madison Square Garden Entertainment Corp (MSGE) is expected to experience robust growth in its Christmas Spectacular revenues for fiscal 2025, despite a record performance in fiscal 2024, driven by higher show counts, modest increases in sell-through, and increased ticket pricing [2]. Group 1: Financial Performance and Projections - Analyst estimates Christmas Spectacular revenues of approximately $157 million for fiscal 2025 [2]. - Sponsorship revenues are projected to reach $286 million in fiscal 2025, reflecting a 7.5% year-over-year growth compared to just 1% growth in fiscal 2024 [6]. - The company is well-positioned to exceed fiscal 2025 consensus expectations for revenues, adjusted operating income, and free cash flows [5]. Group 2: Analyst Ratings and Market Sentiment - The rating for Madison Square Garden was upgraded from Neutral to Buy, with the price target raised from $41 to $45 [2]. - The recent selloff in MSGE stock is viewed as an opportunity for investors to gain exposure to a unique, pure-play venues business with an attractive financial model [3]. - The company is benefiting from a strong event bookings environment, supported by a combination of high supply of concert tours and strong fan demand for live entertainment [4]. Group 3: Stock Performance - Shares of Madison Square Garden Entertainment rose by 1.10% to $39.40 at the time of publication [8].

[Filing Information](index=1&type=section&id=Filing%20Information) This section details the company's quarterly report filing, including its type and registered stock information - MADISON SQUARE GARDEN ENTERTAINMENT CORP. filed a Quarterly Report on Form 10-Q for the period ended March 31, 2024[2](index=2&type=chunk) Title of each class | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :------------------ | :---------------- | :---------------------------------------- | | Class A Common Stock | MSGE | New York Stock Exchange | Class A Common Stock par value $0.01 per share | Class A Common Stock par value $0.01 per share | 41,158,016 | | :----------------------------------- | :--------- | | Class B Common Stock par value $0.01 per share | 6,866,754 | [PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This part presents the company's unaudited condensed consolidated financial statements and management's discussion [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents the unaudited condensed consolidated financial statements, covering balance sheets, operations, cash flows, and equity [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section provides a snapshot of the company's financial position, detailing assets, liabilities, and equity at specific dates Condensed Consolidated Balance Sheets (in thousands) | ASSETS | March 31, 2024 | June 30, 2023 | | :-------------------------------- | :------------- | :------------ | | Cash, cash equivalents, and restricted cash | $28,308 | $84,355 | | Accounts receivable, net | $108,560 | $63,898 | | Total current assets | $255,798 | $295,281 | | Total assets | $1,458,571 | $1,401,157 | | LIABILITIES AND DEFICIT | March 31, 2024 | June 30, 2023 | | :-------------------------------- | :------------- | :------------ | | Total current liabilities | $550,762 | $540,640 | | Long-term debt, net | $602,468 | $630,184 | | Total liabilities | $1,553,134 | $1,470,629 | | Total deficit | $(94,563) | $(69,472) | | Total liabilities and deficit | $1,458,571 | $1,401,157 | - Total assets increased by **$57,414 thousand (4.1%)** from June 30, 2023, to March 31, 2024, while total liabilities increased by **$82,505 thousand (5.6%)**. The company's deficit widened from **$(69,472) thousand to $(94,563) thousand**[9](index=9&type=chunk) [Condensed Consolidated and Combined Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20and%20Combined%20Statements%20of%20Operations) This section details the company's revenues, expenses, and net income over specific reporting periods Condensed Consolidated and Combined Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Nine Months Ended March 31, 2024 | Nine Months Ended March 31, 2023 | | :--------------------------------------- | :-------------------------------- | :-------------------------------- | :------------------------------- | :------------------------------- | | Total revenues | $228,313 | $201,229 | $773,191 | $703,561 | | Total direct operating expenses | $(142,021) | $(115,133) | $(446,459) | $(397,398) | | Operating income | $16,803 | $24,664 | $120,801 | $126,798 | | Net income attributable to MSG Entertainment's stockholders | $2,795 | $21,720 | $77,373 | $101,080 | | Basic EPS | $0.06 | $0.42 | $1.59 | $1.95 | | Diluted EPS | $0.06 | $0.42 | $1.58 | $1.95 | - For the three months ended March 31, 2024, total revenues increased by **13.5% YoY**, but net income attributable to stockholders decreased significantly by **87.1% YoY**. For the nine months ended March 31, 2024, total revenues increased by **9.9% YoY**, while net income attributable to stockholders decreased by **23.5% YoY**[12](index=12&type=chunk) [Condensed Consolidated and Combined Statements of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20and%20Combined%20Statements%20of%20Comprehensive%20Income) This section presents the company's comprehensive income, including net income and other comprehensive income components Condensed Consolidated and Combined Statements of Comprehensive Income (in thousands) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Nine Months Ended March 31, 2024 | Nine Months Ended March 31, 2023 | | :--------------------------------------- | :-------------------------------- | :-------------------------------- | :------------------------------- | :------------------------------- | | Net income | $2,795 | $21,720 | $77,373 | $100,527 | | Other comprehensive income, net of income taxes | $372 | $267 | $1,114 | $878 | | Comprehensive income attributable to MSG Entertainment | $3,167 | $21,987 | $78,487 | $101,958 | - Comprehensive income attributable to MSG Entertainment decreased by **85.6%** for the three months ended March 31, 2024, and by **23.0%** for the nine months ended March 31, 2024, compared to the prior year periods[15](index=15&type=chunk) [Condensed Consolidated and Combined Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20and%20Combined%20Statements%20of%20Cash%20Flows) This section outlines the company's cash inflows and outflows from operating, investing, and financing activities Condensed Consolidated and Combined Statements of Cash Flows (in thousands) | Activity | Nine Months Ended March 31, 2024 | Nine Months Ended March 31, 2023 | | :--------------------------------------- | :------------------------------- | :------------------------------- | | Net cash provided by operating activities | $111,054 | $132,341 | | Net cash (used in) provided by investing activities | $(72,625) | $13,261 | | Net cash used in financing activities | $(94,476) | $(85,194) | | Net (decrease) increase in cash, cash equivalents, and restricted cash | $(56,047) | $60,408 | | Cash, cash equivalents, and restricted cash, end of period | $28,308 | $122,981 | - Net cash provided by operating activities decreased by **$21,287 thousand (16.1%)** for the nine months ended March 31, 2024, compared to the prior year. Investing activities shifted from a net cash inflow of **$13,261 thousand** to a net cash outflow of **$(72,625) thousand**, primarily due to a loan to a related party and the absence of proceeds from dispositions[18](index=18&type=chunk)[207](index=207&type=chunk)[208](index=208&type=chunk) [Condensed Consolidated and Combined Statements of (Deficit) Equity](index=7&type=section&id=Condensed%20Consolidated%20and%20Combined%20Statements%20of%20(Deficit)%20Equity) This section details changes in the company's stockholders' equity or deficit over the reporting period Condensed Consolidated and Combined Statements of (Deficit) Equity (in thousands) | Equity Component | Balance as of June 30, 2023 | Net Income | Other Comprehensive Income | Share-based Compensation | Tax withholding | Stock Repurchases | Balance as of March 31, 2024 | | :-------------------------------- | :-------------------------- | :--------- | :------------------------- | :----------------------- | :-------------- | :---------------- | :--------------------------- | | Common Stock | $519 | — | — | — | $5 | — | $524 | | Additional Paid-in Capital | $17,727 | — | — | $26,186 | $(13,383) | $(874) | $29,656 | | Treasury Stock | $(25,000) | — | — | — | — | $(115,512) | $(140,512) | | Retained Earnings (Deficit) | $(28,697) | $77,373 | — | — | — | — | $48,676 | | Accumulated Other Comprehensive Loss | $(34,021) | — | $1,114 | — | — | — | $(32,907) | | Total Stockholders' (Deficit) Equity | $(69,472) | $77,373 | $1,114 | $26,186 | $(13,378) | $(116,386) | $(94,563) | - The total stockholders' deficit increased from **$(69,472) thousand** as of June 30, 2023, to **$(94,563) thousand** as of March 31

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 ...