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Madison Square Garden Sports (MSGS) Q4 Earnings Top Estimates
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Madison Square Garden Sports Corp. (MSGS - Free Report) reported fourth-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line surpassed the estimate for the fourth straight quarter. Also, both top and bottom lines increased on a year-over-year basis.
MSGS gained from the strong demand for the Knicks and the Rangers, as both teams had impressive regular seasons that resulted in playoff appearances.
Earnings & Revenue Discussion
Madison Square Garden Sports reported adjusted earnings of $1.06 per share in the quarter under discussion. The Zacks Consensus Estimate for earnings was pegged at 33 cents per share. In the prior-year quarter, MSGS reported a loss of 39 cents per share.
Total revenues for the quarter amounted to $227.3 million, surpassing the Zacks Consensus Estimate of $178 million. The metric also increased 79.1% year over year. The increase was driven by a boost in revenues from playoff games, regular season tickets, suite rentals, sponsorships and signage, as well as league distributions. In the fourth quarter of fiscal 2024, the Rangers and the Knicks played a total of 11 additional games, four more regular season games and seven more playoff games at The Garden compared to the previous-year quarter.
The Madison Square Garden Company Price, Consensus and EPS Surprise
Adjusted operating income came in at $56.5 million against an operating loss of $7.8 million reported in the year-earlier quarter.
Balance Sheet
As of June-2024 end, cash and cash equivalents totaled $89.1 million compared with $40.4 million as of Jun 30, 2023. The company had a long-term debt of $275 million, down from $295 million in the year-ago quarter.
Carnival Corporation & plc (CCL - Free Report) reported impressive second-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. The upside was primarily backed by sustained demand strength and increased booking volumes. The management expects net yields to exceed 10% and drive double-digit returns on invested capital.
The quarter’s passenger ticket revenues amounted to $3.8 billion, up from $3.1 billion reported in the prior-year quarter. CCL reported strong booking momentum for 2025, with record volumes surpassing 2024 levels in price and occupancy. It reported strength in pricing for the North America, Australia and Europe segments for the third and the fourth quarter of 2024 on a year-over-year basis. The company’s efforts to extend the booking curve and leverage favorable pricing trends resulted in record cumulative bookings for the remainder of 2024, with occupancy rates above 2023 levels.
Mattel, Inc. (MAT - Free Report) reported mixed second-quarter 2024 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same. The top line missed the consensus estimate for the third straight quarter.
The company experienced robust bottom-line performance, propelled mainly by significant gross margin expansion and growth in adjusted EBITDA. MAT is well positioned for the second half with new product innovation and increased retail support. For 2024, management continues to expect net sales to be comparable with the prior year’s levels at cc. It also anticipates 2024 adjusted EPS to be between $1.35 and $1.45 compared with $1.23 in 2023.
American Outdoor Brands, Inc. (AOUT - Free Report) reported mixed fourth-quarter fiscal 2024 (ended Apr 30, 2024) results. It reported break-even earnings, missing the Zacks Consensus Estimate, while net sales topped the same. The top line rose year over year, but the bottom line declined.
The quarterly results reflect growth in its outdoor lifestyle and shooting sports categories on the back of new product launches across its several brands. The footprint expansion in Canada also bodes well for the company, allowing it to offer outdoor brands to the consumers of Canada. The bottom line was negatively impacted by the amortization of tariff and freight costs, higher promotional product discounts and an immaterial adjustment to a tariff drawback claim submitted in the fiscal 2022.
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Madison Square Garden Sports (MSGS) Q4 Earnings Top Estimates
Madison Square Garden Sports Corp. (MSGS - Free Report) reported fourth-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line surpassed the estimate for the fourth straight quarter. Also, both top and bottom lines increased on a year-over-year basis.
MSGS gained from the strong demand for the Knicks and the Rangers, as both teams had impressive regular seasons that resulted in playoff appearances.
Earnings & Revenue Discussion
Madison Square Garden Sports reported adjusted earnings of $1.06 per share in the quarter under discussion. The Zacks Consensus Estimate for earnings was pegged at 33 cents per share. In the prior-year quarter, MSGS reported a loss of 39 cents per share.
Total revenues for the quarter amounted to $227.3 million, surpassing the Zacks Consensus Estimate of $178 million. The metric also increased 79.1% year over year. The increase was driven by a boost in revenues from playoff games, regular season tickets, suite rentals, sponsorships and signage, as well as league distributions. In the fourth quarter of fiscal 2024, the Rangers and the Knicks played a total of 11 additional games, four more regular season games and seven more playoff games at The Garden compared to the previous-year quarter.
The Madison Square Garden Company Price, Consensus and EPS Surprise
The Madison Square Garden Company price-consensus-eps-surprise-chart | The Madison Square Garden Company Quote
Operating Highlights
Adjusted operating income came in at $56.5 million against an operating loss of $7.8 million reported in the year-earlier quarter.
Balance Sheet
As of June-2024 end, cash and cash equivalents totaled $89.1 million compared with $40.4 million as of Jun 30, 2023. The company had a long-term debt of $275 million, down from $295 million in the year-ago quarter.
Zacks Rank
Madison Square Garden Sports carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Consumer Discretionary Releases
Carnival Corporation & plc (CCL - Free Report) reported impressive second-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. The upside was primarily backed by sustained demand strength and increased booking volumes. The management expects net yields to exceed 10% and drive double-digit returns on invested capital.
The quarter’s passenger ticket revenues amounted to $3.8 billion, up from $3.1 billion reported in the prior-year quarter. CCL reported strong booking momentum for 2025, with record volumes surpassing 2024 levels in price and occupancy. It reported strength in pricing for the North America, Australia and Europe segments for the third and the fourth quarter of 2024 on a year-over-year basis. The company’s efforts to extend the booking curve and leverage favorable pricing trends resulted in record cumulative bookings for the remainder of 2024, with occupancy rates above 2023 levels.
Mattel, Inc. (MAT - Free Report) reported mixed second-quarter 2024 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same. The top line missed the consensus estimate for the third straight quarter.
The company experienced robust bottom-line performance, propelled mainly by significant gross margin expansion and growth in adjusted EBITDA. MAT is well positioned for the second half with new product innovation and increased retail support. For 2024, management continues to expect net sales to be comparable with the prior year’s levels at cc. It also anticipates 2024 adjusted EPS to be between $1.35 and $1.45 compared with $1.23 in 2023.
American Outdoor Brands, Inc. (AOUT - Free Report) reported mixed fourth-quarter fiscal 2024 (ended Apr 30, 2024) results. It reported break-even earnings, missing the Zacks Consensus Estimate, while net sales topped the same. The top line rose year over year, but the bottom line declined.
The quarterly results reflect growth in its outdoor lifestyle and shooting sports categories on the back of new product launches across its several brands. The footprint expansion in Canada also bodes well for the company, allowing it to offer outdoor brands to the consumers of Canada. The bottom line was negatively impacted by the amortization of tariff and freight costs, higher promotional product discounts and an immaterial adjustment to a tariff drawback claim submitted in the fiscal 2022.