Madison Square Garden Sports Corp. ( (MSGS) ) has released its Q3 earnings. Here is a breakdown of the information Madison Square Garden Sports Corp. presented to its investors.
Madison Square Garden Sports Corp. (MSG Sports) is a prominent professional sports company that owns and operates the New York Knicks (NBA) and the New York Rangers (NHL), along with development league teams and a sports performance center.
In its fiscal third quarter of 2025, MSG Sports reported a slight decline in revenues, alongside a significant drop in operating income, attributed to fewer games played and reduced local media rights fees. Despite these challenges, the company experienced growth in per-game revenues for tickets, sponsorships, and premium hospitality.
Key financial metrics for the quarter included revenues of $424.2 million, a 1% decrease from the previous year, and operating income of $32.3 million, down 59%. Adjusted operating income also saw a 58% decline. The company faced increased direct operating expenses, primarily due to higher league revenue sharing expenses and team personnel compensation.
MSG Sports is actively engaging in strategic initiatives, such as the Knicks and Rangers season ticket renewal program, which has shown strong demand. Additionally, the company is involved in restructuring local media rights agreements to adapt to the evolving media landscape.
Looking ahead, MSG Sports remains confident in the value of its marquee sports franchises, despite the current financial challenges. The company is focused on leveraging its assets and strategic partnerships to navigate the changing sports media environment.