| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 432.20 | 7.1% | 1.9% |
| Total Income | 432.20 | 7.1% | 1.9% |
| Expenditure | 430.24 | 12.8% | 9.8% |
| PBT | -13.29 | 188.8% | 158.7% |
| Net Profit | -19.98 | 342.5% | 40.4% |
| OPM | 0.45% | 5.04pp | 7.17pp |
| NPM | -4.62% | 6.67pp | 1.27pp |
| EPS | -0.83 | 344.1% | 40.7% |
Madison Square Garden Sports Corp. Reports Q3 FY26 Revenue of $432.2M, Up 2%
08 May 2026 · 8 May, 5:16 pm
Summary
Madison Square Garden Sports Corp. reported a revenue increase of 2% to $432.2 million for the fiscal 2026 third quarter. The increase was primarily driven by higher revenues from league distributions, which offset lower ticket-related revenues and local media rights fees due to fewer games played. Operating income decreased by $30.4 million to $2.0 million, and adjusted operating income decreased by $26.6 million to $10.3 million. The company's board is exploring a potential spin-off to separate the Knicks and Rangers businesses.
Key Highlights
- 1
Madison Square Garden Sports Corp. reported revenues of $432.2 million for the fiscal 2026 third quarter, an increase of 2% compared to the prior year period.
- 2
Operating income for the quarter was $2.0 million, a decrease of $30.4 million compared to the prior year period.
- 3
Adjusted operating income was $10.3 million, a decrease of $26.6 million compared to the prior year period.
- 4
Revenues from league distributions increased by $27.0 million due to higher national media rights fees from the NBA.
- 5
Ticket-related revenues decreased by $12.9 million due to fewer games played at The Garden.
- 6
Direct operating expenses increased by $38.2 million, driven by higher team personnel compensation and league revenue sharing expense.
- 7
The board of directors approved the exploration of a possible spin-off that would separate its New York Knicks business from its New York Rangers business.
Management Comments
James L. Dolan
Our results this quarter again reflect growth in per-game revenues across all key categories, which is driven by strong demand for our teams. We are also now exploring a potential separation of our Knicks and Rangers businesses into distinct public companies, which we believe would further create long-term value for shareholders.
Informational and educational content only. Not investment advice.