Madison Square Garden Entertainment Corp. Reports Fiscal 2025 Third Quarter Results

FY25 Third Quarter Revenues of $242.5 Million, Up 6% Versus the Prior Year Quarter

FY25 Third Quarter Operating Income of $27.3 Million, an Increase of 63% Year-Over-Year

FY25 Third Quarter AOI of $57.9 Million⁽¹⁾, Up 50% Versus the Prior Year Quarter

$40 Million in MSGE Class A Shares Repurchased in FY2025 Year-To-Date, Including $15 Million in March

NEW YORK, N.Y., May 6, 2025 - Madison Square Garden Entertainment Corp. (NYSE: MSGE) ("MSG Entertainment" or the "Company") today reported financial results for the fiscal third quarter ended March 31, 2025.

The fiscal 2025 third quarter was highlighted by a diverse slate of live entertainment events held across the Company's portfolio of venues, which - in addition to concerts - included special events, family shows and marquee sports, as well as the conclusion of this year's record-setting Christmas Spectacular run in January. During the quarter, the New York Knicks ("Knicks") and New York Rangers ("Rangers") continued their 2024-25 regular seasons at the Madison Square Garden Arena ("The Garden"). In addition, in March, the Company repurchased approximately $15 million of its Class A common stock, bringing total share repurchases in fiscal 2025 to approximately $40 million.

For the fiscal 2025 third quarter, the Company reported revenues of $242.5 million, an increase of $14.2 million, or 6%, as compared to the prior year quarter. In addition, the Company reported operating income of $27.3 million, an increase of $10.5 million, or 63%, and adjusted operating income of $57.9 million, an increase of $19.3 million, or 50%, both as compared to the prior year quarter.⁽¹⁾

Executive Chairman and CEO James L. Dolan said, "Our third quarter results reflect continued strong consumer and corporate demand as well as a wide variety of live events across our venues. We remain on track to deliver solid adjusted operating income growth this fiscal year and believe we are well-positioned to drive long-term value for our shareholders."

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