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Mar 31, 2022
MSG Sports Q3 2022 Earnings Report
MSG Sports' financial performance significantly improved due to robust consumer and corporate demand, driving revenues well above pre-pandemic levels.
Key Takeaways
Madison Square Garden Sports Corp. reported strong FY2022 third quarter results, driven by revenues well above pre-pandemic levels. The company generated revenues of $337.8 million, operating income of $61.4 million, and adjusted operating income of $81.5 million.
Revenues increased by $154.8 million, or 85%, compared to the prior year period, driven by the impact of the COVID-19 pandemic on the prior year period's results.
Pre/regular season ticket-related revenues increased by $105.8 million, and suite license fee revenues increased by $38.6 million compared to the prior year period.
Sponsorship and signage revenues increased by $12.8 million, and food, beverage and merchandise sales increased by $9.7 million compared to the prior year period.
Operating income increased by $53.3 million compared to the prior year period.
MSG Sports
MSG Sports
Forward Guidance
The Company sees numerous opportunities on the horizon to continue driving sustained growth for its business as well as generate long-term shareholder value.