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Sep 30, 2021
MSG Sports Q1 2022 Earnings Report
MSG Sports' first quarter results for fiscal year 2022 were reported.
Key Takeaways
Madison Square Garden Sports Corp. reported a decrease in revenues to $18.8 million compared to the prior year period, primarily driven by declines in league distribution revenues and local media rights fees. The company had an operating loss of $34.9 million and an adjusted operating loss of $28.1 million.
Revenues decreased by $38.2 million compared to the prior year period.
Operating loss increased by $7.5 million compared to the prior year period.
Adjusted operating loss increased by $10.4 million compared to the prior year period.
The New York Knicks and New York Rangers began their 2021-22 regular seasons with full 82-game schedules and no capacity restrictions.
MSG Sports
MSG Sports
Forward Guidance
While there continues to be some uncertainty due to the pandemic, the company is encouraged by what they are seeing across several areas of their business, including season tickets, corporate hospitality and marketing partnerships.