Workflow
Madison Square Garden Sports (MSGS)
icon
Search documents
TRES AGAVES TEQUILA NAMED AN OFFICIAL SPONSOR OF THE NEW YORK RANGERS
Prnewswire· 2025-03-06 16:00
Group 1 - Madison Square Garden Sports Corp. announced Tres Agaves as an official sponsor of the New York Rangers [1] - Tres Agaves will have dedicated ribbon LED signage and be featured on GardenVision during Rangers home games, enhancing brand visibility among fans [2] - The sponsorship includes virtual advertisements during MSG Networks broadcasts, ensuring high visibility for Tres Agaves among viewers at home [3] Group 2 - The partnership aims to integrate Tres Agaves into the in-arena experience, enhancing the connection with fans both in-arena and at home [4] - Tres Agaves is recognized as the 1 selling organic tequila in the US, aligning well with game day experiences [4] - Both brands emphasize community and collaboration, sharing a motto that highlights the importance of collective success [4] Group 3 - Madison Square Garden Sports Corp. operates professional sports teams including the New York Knicks and New York Rangers, along with development league teams [5] - MSG Sports also manages a performance center, the MSG Training Center, located in Greenburgh, NY [5] - Tres Agaves offers premium, USDA-certified organic tequila and mixers, crafted in Amatitán, Mexico, focusing on authenticity and quality [6]
MSGS Stock Down on Q2 Earnings Miss, Revenue Beat Estimates
ZACKS· 2025-02-05 17:10
Core Insights - Madison Square Garden Sports Corp. (MSGS) experienced a 3.6% decline in shares following mixed second-quarter fiscal 2025 results, with earnings per share missing estimates while revenues exceeded expectations [1][3] Earnings & Revenue Discussion - MSGS reported quarterly earnings of 5 cents per share, missing the Zacks Consensus Estimate of 25 cents by 80%, and reflecting a 91.5% decline from the previous year's earnings of 59 cents per share [3] - Revenues for the quarter reached $357.8 million, surpassing the consensus mark of $350.6 million by 2.1%, and increased by 9% year-over-year, driven by higher ticket sales, suite revenues, sponsorship, signage revenues, and growth in food, beverage, and merchandise sales [4] Operating Highlights - Adjusted operating income was $20.2 million, down 45% from $64.4 million in the year-ago quarter, with adjusted operating margin contracting by 570 basis points to 5.6% year-over-year [5] - Direct operating expenses rose by 19% to $275.8 million compared to the previous year, attributed to higher team personnel compensation and increased provisions for league revenue sharing [6] Balance Sheet - As of December 31, 2024, MSGS had cash, cash equivalents, and restricted cash totaling $115.9 million, an increase from $94.9 million at the end of fiscal 2024 [7] - Long-term debt remained stable at $275 million, consistent with the previous fiscal year-end [7] - In the first half of fiscal 2025, net cash provided by operating activities was $35.6 million, compared to net cash used of $20.3 million in the same period last year [7]
Madison Square Garden (MSGS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
ZACKS· 2025-02-05 02:01
Core Insights - Madison Square Garden (MSGS) reported revenue of $357.76 million for the quarter ended December 2024, marking a year-over-year increase of 9.4% [1] - The earnings per share (EPS) for the same period was $0.05, a significant decrease from $0.59 a year ago, resulting in an EPS surprise of -80.00% compared to the consensus estimate of $0.25 [1] Revenue Breakdown - Event-related revenues totaled $139.37 million, exceeding the average estimate of $134.41 million by analysts, reflecting a year-over-year increase of 13.8% [4] - League distributions and other revenues were reported at $12.07 million, slightly below the average estimate of $12.98 million, representing a year-over-year decline of 4.1% [4] - Sponsorship, signage, and suite licenses generated $79.41 million, surpassing the average estimate of $75.54 million, with a year-over-year increase of 14.6% [4] - Media rights revenues amounted to $126.90 million, slightly below the average estimate of $127.39 million, showing a year-over-year growth of 3.6% [4] Stock Performance - Over the past month, Madison Square Garden shares have returned -0.4%, while the Zacks S&P 500 composite increased by 1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]
Madison Square Garden Sports (MSGS) - 2025 Q2 - Quarterly Report
2025-02-04 21:59
Revenue Performance - Revenues increased by $30,861, or 9%, to $357,759 for the three months ended December 31, 2024, and by $41,122, or 11%, to $411,066 for the six months ended December 31, 2024 compared to the prior year periods [151]. - The increase in revenues from league distributions for the three months ended December 31, 2024 was primarily due to increased national media rights fees, contributing to a total increase of $2,649 [155]. - The increase in sponsorship and signage revenues for the three months ended December 31, 2024 was primarily due to additional home games and higher net sales of existing inventory, totaling an increase of $3,082 [154]. - The increase in revenues from local media rights fees was primarily due to contractual rate increases, totaling $1,666 for the three months ended December 31, 2024 [157]. - The increase in pre/regular season ticket-related revenues was $14,339 for the three months ended December 31, 2024, attributed to higher average per-game revenue [152]. Expense Analysis - Direct operating expenses rose by $43,528, or 19%, to $275,753 for the three months ended December 31, 2024, and by $48,219, or 20%, to $283,964 for the six months ended December 31, 2024 compared to the prior year periods [158]. - Team personnel compensation increased by $15,248 for the three months ended December 31, 2024, primarily due to changes in the Knicks roster [158]. - Selling, general and administrative expenses for the three months ended December 31, 2024 increased by $2,834, or 4%, to $67,900 compared to the prior year period [167]. - Net provisions for league revenue sharing expense for the three months ended December 31, 2024 were $38,457, an increase of $14,873 from the prior year period [159]. Income and Loss - Operating income decreased by $15,502, or 54%, to $13,315 for the three months ended December 31, 2024, and by $8,951, or 64%, to $5,042 for the six months ended December 31, 2024 compared to the prior year periods [151]. - Net income for the three months ended December 31, 2024 was $1,111, a decrease of $13,113, or 92%, compared to the prior year period, and for the six months ended December 31, 2024, net loss was $6,431, a decrease of $1,834, or 40% [151]. - Adjusted operating income for the three months ended December 31, 2024 decreased by $16,777, or 45%, to $20,239 compared to the prior year period, driven by higher direct operating expenses and higher selling, general and administrative expenses [183]. - Miscellaneous (expense) income, net for the three months ended December 31, 2024 reflected a net expense of $6,609, a decrease from net income of $2,991 in the prior year period [174]. Cash Flow and Financing - Net cash provided by operating activities improved by $55,878 million to $35,621 million for the six months ended December 31, 2024, primarily due to changes in working capital [196]. - Net cash used in investing activities decreased by $2,936 million to $2,302 million compared to the prior year period [198]. - Net cash used in financing activities was $12,373 million for the six months ended December 31, 2024, compared to net cash provided of $26,268 million in the same period of 2023 [199]. - As of December 31, 2024, the company had $107,823 in cash and cash equivalents and $250,000 of additional available borrowing capacity under existing credit facilities [191]. - As of December 31, 2024, total borrowings outstanding under credit facilities amounted to $275 million [210]. Assets and Liabilities - The company's deferred revenue obligations as of December 31, 2024 were $222,146, net of billed but not yet collected deferred revenue, primarily related to tickets and suites [189]. - Deferred revenue increased by $29,563 million due to higher collections of ticket, sponsorship, and suite sales [197]. - The carrying amount of goodwill as of December 31, 2024 was $226,523 million, with no impairment identified during the annual testing [203]. - Identifiable indefinite-lived intangible assets totaled $103,644 million as of December 31, 2024, with no impairments identified [205]. Future Outlook - The company expects adjusted operating income for fiscal year 2025 to reflect higher team personnel compensation and corresponding NBA luxury tax due to the Knicks' 2024-25 season roster [185]. - A hypothetical 100 basis point increase in floating interest rates would increase interest expense by approximately $2.8 million [210]. - The company relies on revenues from NBA and NHL teams, earning a disproportionate share of revenues in the second and third quarters of the fiscal year [200].
Madison Square Garden (MSGS) Misses Q2 Earnings Estimates
ZACKS· 2025-02-04 14:45
分组1 - Madison Square Garden (MSGS) reported quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.25 per share, representing an earnings surprise of -80% [1] - The company posted revenues of $357.76 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.06%, compared to year-ago revenues of $326.9 million [2] - Over the last four quarters, Madison Square Garden has surpassed consensus revenue estimates four times [2] 分组2 - The current consensus EPS estimate for the coming quarter is $1.79 on revenues of $435.48 million, and for the current fiscal year, it is $0.81 on revenues of $956.86 million [7] - The Zacks Industry Rank for Leisure and Recreation Services is currently in the top 25% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - The stock has underperformed the market, losing about 3.3% since the beginning of the year, while the S&P 500 has gained 1.9% [3]
C4 ENERGY® NAMED AS THE OFFICIAL ENERGY DRINK OF THE NEW YORK KNICKS
Prnewswire· 2025-02-04 14:15
Group 1 - Madison Square Garden Sports Corp. announced a multi-year partnership with Nutrabolt, naming C4 Energy as the Official Energy Drink of the New York Knicks [1][3] - C4 Energy will be featured prominently in digital signage at Madison Square Garden, including courtside LED displays during non-nationally televised home games and virtual advertisements on MSG Networks [2] - The partnership aims to enhance C4 Energy's engagement with the Knicks' fanbase through various platforms, including the Knicks website and the Seventh Avenue LED marquee sign [2][3] Group 2 - Madison Square Garden Sports Corp. is a leading professional sports company with assets including the New York Knicks and New York Rangers, as well as development league teams [4] - Nutrabolt is a fast-growing global active health and wellness company with a portfolio that includes C4, XTEND, and Cellucor, focusing on performance-oriented brands [5][6] - Nutrabolt's products are designed to meet the needs of performance athletes and fitness enthusiasts while appealing to a broader consumer base [6]
Madison Square Garden Sports (MSGS) - 2025 Q2 - Quarterly Results
2025-02-04 13:00
MADISON SQUARE GARDEN SPORTS CORP. REPORTS FISCAL 2025 SECOND QUARTER RESULTS NEW YORK, N.Y., February 4, 2025 - Madison Square Garden Sports Corp. (NYSE: MSGS) today reported financial results for the fiscal second quarter ended December 31, 2024. During the fiscal 2025 second quarter, the New York Knicks ("Knicks") and New York Rangers ("Rangers") began their 2024- 25 regular seasons, playing a combined three more games at the Madison Square Garden Arena ("The Garden") as compared to the prior year quarte ...
MADISON SQUARE GARDEN SPORTS CORP. REPORTS FISCAL 2025 SECOND QUARTER RESULTS
Prnewswire· 2025-02-04 12:30
NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE: MSGS) today reported financial results for the fiscal second quarter ended December 31, 2024. During the fiscal 2025 second quarter, the New York Knicks ("Knicks") and New York Rangers ("Rangers") began their 2024-25 regular seasons, playing a combined three more games at the Madison Square Garden Arena ("The Garden") as compared to the prior year quarter. In addition to the positive impact of those additional home games, the C ...
Madison Square Garden Sports Corp. to Host Fiscal 2025 Second Quarter Conference Call
Prnewswire· 2025-01-28 21:30
NEW YORK, Jan. 28, 2025 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE: MSGS) will host a conference call to discuss results for its fiscal second quarter ended December 31, 2024 on Tuesday, February 4, 2025 at 10:00 a.m. Eastern Time. The Company will issue a press release reporting its results prior to the market opening. To participate via telephone, please dial 888-660-6386 with the conference ID number 6996895 approximately 10 minutes prior to the call. The call will also be available via web ...
WATERLOO SPARKLING WATER NAMED AN OFFICIAL PARTNER OF THE NEW YORK RANGERS AND MADISON SQUARE GARDEN
Prnewswire· 2025-01-14 14:04
Waterloo Sparkling Water to be Available at Concession Stands Throughout MSG, Including at a New Dedicated Concession Stand, Providing Fans with Even More Beverage Options at The World's Most Famous ArenaNEW YORK, Jan. 14, 2025 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE: MSGS) ("MSG Sports") and Madison Square Garden Entertainment Corp. (NYSE: MSGE) ("MSG Entertainment") announced today a partnership with Waterloo Sparkling Water, naming the brand known for its authentic flavors and lively car ...