Madison Square Garden Sports Q3 revenue rises 2%, slightly beats estimates

MSG Knickerbockers

08/05/2026 12:38

Overview

US pro sports team owner's fiscal Q3 revenue rose 2%, slightly beating analyst expectations

Adjusted operating income for fiscal Q3 missed analyst consensus, falling 72% yr/yr

Company is exploring previously announced separation of Knicks and Rangers businesses

Outlook

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

Result Drivers

LEAGUE DISTRIBUTIONS - Higher national media rights fees and an incremental NBA league distribution drove revenue growth

FEWER HOME GAMES - Knicks and Rangers played five fewer games at The Garden, reducing ticket, local media, food and sponsorship revenues

HIGHER OPERATING COSTS - Increased team personnel compensation, league revenue sharing, and NBA luxury tax drove up expenses

Company press release: ID:nBw423WZFa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$432.20 mln
$429.65 mln (7 Analysts)
Q3 EPS
-$0.83
Q3 Net Income
-$19.98 mln
Q3 Adjusted Operating Income
Miss
$10.30 mln
$29.23 mln (6 Analysts)
Q3 Operating Expenses
$354.50 mln
Q3 Operating Income
$2 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 $371.50, about 11.7% above its May 7 closing price of $332.52

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)