Madison Square Garden Entertainment Corp. Reports Fiscal 2025 Second Quarter Results
Christmas Spectacular Production Delivers Another Year of Record-Setting Revenues
Approximately 1.1 Million Tickets Sold During 91st Holiday Season
$25 Million in MSGE Class A Shares Repurchased During Fiscal 2025 Second Quarter
NEW YORK, N.Y., February 6, 2025 – Madison Square Garden Entertainment Corp. (NYSE: MSGE) (“MSG Entertainment” or the “Company”) today reported financial results for the fiscal second quarter ended December 31, 2024.
The fiscal 2025 second quarter was highlighted by another record-setting run for the Christmas Spectacular. In its 91st holiday season, approximately1.1 million tickets were sold across 200 shows, as compared to over 1 million tickets sold over 193 shows last season. During the quarter, the Company also welcomed a wide variety of other live events across its portfolio of venues, including the return of the New York Knicks (“Knicks”) and New York Rangers (“Rangers”) to the Madison Square Garden Arena (“The Garden”) for the start of their 2024-25 regular seasons. In addition, in December, the Company announced that it had repurchased approximately $25 million of its MSGE Class A common stock.
For the fiscal 2025 second quarter, the Company reported revenues of $407.4 million, an increase of $4.8 million, or 1%, as compared to the prior year quarter. In addition, the Company reported operating income of $139.0 million, an increase of $1.6 million, or 1%, and adjusted operating income of $164.0 million, an increase of $3.9 million, or 2%, both as compared to the prior year quarter.(1) Fiscal 2025 second quarter operating income included $4.5 million and adjusted operating income included $3.1 million, respectively, in executive management transition costs. Excluding these costs, operating income would have been $143.5 million, an increase of 4%, and adjusted operating income would have been $167.2 million, an increase of 4%, both as compared to the prior year period.
Executive Chairman and CEO James L. Dolan said, “We continue to see strong demand for our live entertainment offerings, highlighted by another record-setting run for the Christmas Spectacular production. We remain confident in the strength of our business and expect to deliver solid adjusted operating income growth this fiscal year.”