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Madison Square Garden Sports Corp. Reports Fiscal 2026 Fourth Quarter and Full-Year Results

MSGS
  • Madison Square Garden Sports Corp. reported fiscal 2026 full-year revenues of $1,153.8 million, an 11% increase from the prior year.
  • The company reported fiscal 2026 full-year operating income of $28.9 million, a 95% increase compared to the prior year.
  • Fiscal 2026 full-year adjusted operating income reached $58.7 million, a 54% increase from the prior year.
  • The New York Knicks won the 2025-26 NBA Championship, which highlighted the fiscal 2026 period.
  • Fiscal 2026 fourth-quarter revenues totaled $278.7 million, representing a 37% increase over the prior year quarter.
  • Fiscal 2026 fourth-quarter operating income was $32.2 million, a significant improvement from an operating loss of $22.6 million in the prior year quarter.
  • Fourth-quarter adjusted operating income was $39.6 million, up from an adjusted operating loss of $16.8 million in the prior year quarter.
  • Playoff-related revenues increased by $66.9 million in the fourth quarter due to the Knicks' championship run.
  • National media rights fees increased due to new NBA national media rights agreements starting in the 2025-26 season.
  • Local media rights fees decreased by $3.5 million in the fourth quarter due to amendments with MSG Networks.
  • The company expects to complete the spin-off of the New York Rangers business from the Knicks business by the end of October 2026.
  • The company confidentially submitted a Form 10 registration statement for the Rangers spin-off in mid-May 2026.
  • Selling, general, and administrative expenses increased by 21% in the fourth quarter, driven by playoff-related costs and spin-off transaction expenses.
  • Direct operating expenses increased by 3% in the fourth quarter, primarily due to higher playoff-related expenses.
  • Cash and cash equivalents as of June 30, 2026, were $164.5 million.
  • Total liabilities as of June 30, 2026, stood at $1.8 billion, while total equity was negative $263.3 million.
  • Net cash provided by operating activities for the twelve months ended June 30, 2026, was $62.7 million.