Madison Square Garden Entertainment Corp. Reports Fiscal 2026 First Quarter Results

NEW YORK, N.Y., November 6, 2025 - Madison Square Garden Entertainment Corp. (NYSE: MSGE) ("MSG Entertainment" or the "Company") today reported financial results for the fiscal first quarter ended September 30, 2025.

The fiscal 2026 first quarter was highlighted by a wide variety of live entertainment events across the Company's portfolio of venues. That included a new record for the number of concerts in any quarter at the Madison Square Garden Arena ("The Garden"). Subsequent to the end of the quarter, the New York Knicks ("Knicks") and New York Rangers ("Rangers") began their 2025-26 regular seasons at The Garden. And later today, the Christmas Spectacular production kicks off its 2025 holiday season at Radio City Music Hall with 215 planned performances as compared to 200 in fiscal 2025. In addition, during the fiscal 2026 first quarter, the Company repurchased approximately $25 million of its Class A common stock, bringing total share repurchases since the Company was spun off from Sphere Entertainment Co. in 2023 to approximately $205 million.

For the fiscal 2026 first quarter, the Company reported revenues of $158.3 million, an increase of $19.5 million, or 14%, as compared to the prior year quarter. In addition, the Company reported an operating loss of $29.7 million, an increase of $11.3 million, and adjusted operating income of $7.1 million, an increase of $5.2 million, both as compared to the prior fiscal year first quarter.⁽¹⁾

Executive Chairman and CEO James L. Dolan said, "We are seeing strong momentum across our business, including for bookings and this year's Christmas Spectacular production. Looking ahead, we are increasingly confident in our ability to drive solid growth in both revenue and adjusted operating income in fiscal 2026."

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