Madison Square Garden Entertainment Q3 Revenue Up 2%

By Tamara Parker • Thursday, May 07 09:20 • Permanent Link

Madison Square Garden Entertainment reported fiscal third-quarter revenue of $246.3 million, up $3.8 million, or 2%, from $242.5 million a year earlier.

Operating income fell to $16.1 million from $27.3 million, a drop of $11.2 million, or 41%. Adjusted operating income declined to $46.0 million from $57.9 million, down $11.8 million, or 20%.

For the first nine months of fiscal 2026, revenue rose to $864.5 million from $788.6 million, an increase of $75.9 million, or 10%. Operating income edged up to $150.2 million from $147.8 million, while adjusted operating income increased to $243.5 million from $223.8 million.

Within the third quarter, entertainment offerings revenue increased to $165.7 million from $160.2 million, up $5.5 million, or 3%. Concert revenue rose $3.7 million, venue-related sponsorship, signage and suite license fees climbed $3.1 million, and Christmas Spectacular revenue increased $1.3 million. Those gains were partly offset by a $7.7 million decline in other live entertainment and sporting events.

Arena license fees and other leasing revenue slipped to $35.5 million from $36.5 million, down $1.0 million, or 3%, as fewer Knicks and Rangers games were played at the Garden.

Direct operating expenses tied to entertainment offerings, arena license fees and other leasing increased to $118.3 million from $108.0 million, up $10.3 million, or 10%.

Food, beverage and merchandise revenue declined to $45.1 million from $45.8 million, down $0.7 million, or 2%. Food and beverage direct operating expenses fell to $28.5 million from $30.9 million, a decrease of $2.4 million, or 8%.

Selling, general and administrative expenses rose to $61.0 million from $52.2 million, an increase of $8.8 million, or 17%.

The company said the quarter included more concerts at Madison Square Garden, the final performances in this year’s Christmas Spectacular run, and continued Knicks and Rangers regular-season games at the Garden. As a result of these announcements, the company's shares have moved 1.75% on the market, and are now trading at a price of $67.145. For more information, read the company's full 8-K submission here.

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