Atlanta Braves (BATRA) - 2024 Q3 - Quarterly Results

Revenue Performance - Total revenue for Q3 2024 reached $291 million, a 7$272 million in Q3 2023[1] - Baseball revenue increased by 7% to $273 million, while mixed-use development revenue grew by 12$17 million[1][3] - Total revenue for the three months ended September 30, 2024, was $290,674, an increase of 6.3$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$528,762 in the prior year[24] Operating Income and Earnings - Adjusted OIBDA for Q3 2024 was $31.4 million, a decrease of 22$40.3 million in Q3 2023[3][7] - Operating income for Q3 2024 was $6.4 million, down 59$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]