Madison Square Garden Sports Q1 revenue misses on lower media rights fees

MSG Knickerbockers

31/10/2025 11:38

Overview

Madison Square Garden Sports fiscal Q1 revenue fell 26% yr/yr, missing analyst expectations

Adjusted operating loss for fiscal Q1 increased, missing analyst estimates

Revenue decline due to lower league distributions and local media rights fees

Outlook

Company did not provide specific financial guidance for future quarters or full year

Result Drivers

LEAGUE DISTRIBUTIONS - Revenue decline primarily due to $11.4 mln decrease in league distributions unrelated to national media rights fees

MEDIA RIGHTS FEES - Local media rights fees decreased $2.3 mln due to amendments to Knicks and Rangers agreements

HIGHER EXPENSES - Operating loss increased due to higher selling, general, and administrative expenses

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$39.50 mln
$41.30 mln (7 Analysts)
Q1 Net Income
-$8.79 mln
Q1 Adjusted Operating Income
Miss
-$20.80 mln
-$19.81 mln (7 Analysts)
Q1 Operating Expenses
$8.27 mln
Q1 Operating Income
-$27.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the entertainment production peer group is "buy"

Wall Street's median 12-month price target for Madison Square Garden Sports Corp is $260.00, about 13.5% above its October 30 closing price of $224.77

Press Release: ID:nBw51jKmJa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)