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Dec 31, 2025
MSG Spinco Q2 2026 Earnings Report
Madison Square Garden Entertainment Corp. reported its fiscal second quarter results for 2026, highlighted by record-setting revenues from the Christmas Spectacular production and overall growth in revenues and operating income.
Key Takeaways
Madison Square Garden Entertainment Corp. announced strong fiscal second quarter results for 2026, with total revenues increasing by 13% to $459.9 million and operating income rising by 18% to $163.8 million. The Christmas Spectacular production achieved record-setting revenues and its highest attendance in 25 years, selling over 1.2 million tickets.
Total revenues for Q2 2026 increased by 13% to $459.9 million compared to the prior year quarter.
Operating income for Q2 2026 grew by 18% to $163.8 million, and adjusted operating income increased by 16% to $190.4 million.
The Christmas Spectacular production achieved record-setting revenues and its highest attendance in 25 years, selling over 1.2 million tickets across 215 performances.
The Company hosted a busy schedule of events, with growth in bookings and the start of the Knicks and Rangers 2025-26 regular seasons at Madison Square Garden Arena.
Revenue by Segment
Forward Guidance
Executive Chairman and CEO James L. Dolan expressed confidence in driving robust growth in both revenue and adjusted operating income for the fiscal year 2026, building on the strong momentum from the Christmas Spectacular and bookings.
Positive Outlook
- Strong momentum across the business in fiscal '26, including for the Christmas Spectacular production and bookings.
- On track to drive robust growth in both revenue for the full fiscal year.
- On track to drive robust growth in adjusted operating income for the full fiscal year.
- Christmas Spectacular achieved record-setting revenues and highest attendance in 25 years.
- Increased number of bookings events compared to the prior year quarter.
Historical Earnings Impact
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