MSG Sports Q3 2023 Earnings Report

MSG Sports reported solid third quarter results driven by robust demand for the Knicks and Rangers.

Key Takeaways

Madison Square Garden Sports Corp. reported a 13% increase in revenue compared to the prior year period, driven by higher pre/regular season ticket-related revenues, suite revenues, local media rights fees, sponsorship and signage revenues, and food, beverage and merchandise sales. Operating income increased by 33% due to the increase in revenues and a decrease in selling, general and administrative expenses.

Revenues increased by 13% compared to the prior year period.

Operating income increased by 33% compared to the prior year period.

Adjusted operating income increased by 20% compared to the prior year period.

The Knicks and Rangers played a combined 40 regular season home games, compared to 38 in the prior year period.