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Jun 30, 2024
MSG Sports Q4 2024 Earnings Report
MSG Sports Q4 2024 earnings were reported with record revenues driven by strong demand for the Knicks and the Rangers.
Key Takeaways
Madison Square Garden Sports Corp. reported a strong fiscal fourth quarter and full year ended June 30, 2024. The company's Q4 revenues increased by 79% compared to the prior year quarter, driven by higher playoff-related revenues, regular season ticket revenues, suite revenues, sponsorship and signage revenues, and revenues from league distributions. The New York Knicks and New York Rangers both qualifying for the playoffs, culminating with the Knicks advancing to the Eastern Conference Semifinals and the Rangers advancing to the Eastern Conference Finals.
Revenues increased by $100.3 million, or 79%, as compared to the prior year quarter.
Operating income increased $64.5 million as compared to the prior year period.
Adjusted operating income increased $64.3 million, as compared to the prior year period.
The Rangers and the Knicks played a combined four more regular season games and seven more playoff games at The Garden, both as compared to the prior year quarter.
MSG Sports
MSG Sports
Forward Guidance
MSG Sports remains confident in the strength of its professional sports franchises and believes it is well positioned to generate long-term shareholder value.