Madison Square Garden Sports' Topline Climbs Amid Higher Ticket Sales, Yet Earnings Fall Short
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 02 2024
0mins
Source: earning
- Financial Performance: Madison Square Garden Sports Corp reported Q3 2024 revenue of $429.95 million, exceeding estimates, with a 12% year-over-year growth.
- Revenue Drivers: The revenue increase was driven by higher ticket-related revenues, suite revenues, food, beverage, merchandise sales, local media rights fees, and league distributions.
- Earnings and Operating Income: Quarterly earnings per share were $1.57, missing estimates, while adjusted operating income was $88.7 million, up 3% YoY due to increased revenues.
- Specific Revenue Increases: Ticket-related revenues rose by $29.9 million, suite revenues by $10.9 million, and food, beverage, merchandise sales by $4.3 million compared to the prior year.
- Stock Performance and Investment Options: MSGS stock lost 10% in the past year; investors can access the stock through Invesco S&P SmallCap Utilities & Communication Services ETF and ETC 6 Meridian Small Cap Equity ETF.
Analyst Views on PSCU
Wall Street analysts forecast PSCU stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSCU is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 59.715
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Current: 59.715
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
