Q1 2025 Madison Square Garden Entertainment Corp Earnings Call Transcript
Key Points
- Madison Square Garden Entertainment Corp (MSGE) reported a record number of concerts at the Garden for the fiscal first quarter.
- The Christmas Spectacular advanced ticket sales are outperforming last year, with additional performances added due to high demand.
- New marketing partnerships have been announced with companies like Lenovo, Motorola, and Verizon, indicating strong corporate interest.
- The company has seen strong sales and renewal activity for premium hospitality offerings, including suites.
- MSG Entertainment expects to deliver a mid- to high single-digit percentage increase in adjusted operating income for fiscal '25.
- Concert-related revenues were lower year-over-year due to a shift from promoted events to rentals and fewer concerts at theaters.
- There has been a recent slowdown in concert bookings, with a noted scarcity of supply for arena-level shows in the spring.
- Food, beverage, and merchandise per capita spending at concerts decreased modestly year-over-year.
- The company anticipates additional expenses due to the decision to bring sponsorship sales back in-house.
- Revenues for the fiscal first quarter decreased compared to the prior year, reflecting declines in entertainment offerings and food, beverage, and merchandise categories.
Good morning. Thank you for standing by, and welcome to the Madison Square Garden Entertainment Corp. fiscal 2025 first-quarter earnings conference call. I would now like to turn the call over to Ari Danes, Senior Vice President, Investor Relations and Treasury.
On today's call, Mike Grau, our EVP and Chief Financial Officer, will provide an update on the company's operations and review our financial results for the period. After our prepared remarks, we will open up the call for questions. If you do not have a copy of today's earnings release, it is available in the Investors section of our corporate website. Please take note of the following. Today's discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that could cause
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
