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Madison Square Garden Sports (MSGS) Lags Q4 Earnings Estimates
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Madison Square Garden Sports Corp. (MSGS - Free Report) reported fourth-quarter fiscal 2023 results, with earnings and revenues missing the Zacks Consensus Estimate. Also, the top and bottom lines declined on a year-over-year basis. Earnings missed the Zacks Consensus Estimate for the third straight quarter.
The company’s results in the quarter were hurt by fewer Knicks and Rangers regular season as well as playoff home games compared with the a year ago.
Earnings & Revenue Discussion
Madison Square Garden Sports reported loss of 39 cents per share in the quarter under discussion. The Zacks Consensus Estimate for earnings was pegged at 2 cents. In the prior-year quarter, MSGS reported earnings of $1.11.
Total revenues for the quarter amounted to $126.9 million, down 28% year over year. The downside can be primarily attributed to a decline in revenues in pre/regular season tickets, suite as well as sponsorship and signage.
The Madison Square Garden Company Price, Consensus and EPS Surprise
Adjusted operating loss came in at $7.8 million against operating income of $29.5 million reported in the year-earlier quarter.
Balance Sheet
As of June 2023 end, cash and cash equivalents totaled $40.4 million compared with $91 million as of Jun 30, 2022. As of Jun 30, 2023, the company had long-term debt of $295 million, up from $220 million in the year-ago quarter.
Zacks Rank and Key Picks
Madison Square Garden Sports carries a Zacks Rank #3 (Hold).
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 140.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS implies gains of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has increased 22.7% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates rises of 44.5% and 107.1%, respectively, from the year-earlier period’s levels.
Trip.com Group Limited (TCOM - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 147.9%, on average. The stock has improved 51.5% in the past year.
The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS suggests increases of 104.9% and 537.9%, respectively, from the prior-year period’s levels.
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Madison Square Garden Sports (MSGS) Lags Q4 Earnings Estimates
Madison Square Garden Sports Corp. (MSGS - Free Report) reported fourth-quarter fiscal 2023 results, with earnings and revenues missing the Zacks Consensus Estimate. Also, the top and bottom lines declined on a year-over-year basis. Earnings missed the Zacks Consensus Estimate for the third straight quarter.
The company’s results in the quarter were hurt by fewer Knicks and Rangers regular season as well as playoff home games compared with the a year ago.
Earnings & Revenue Discussion
Madison Square Garden Sports reported loss of 39 cents per share in the quarter under discussion. The Zacks Consensus Estimate for earnings was pegged at 2 cents. In the prior-year quarter, MSGS reported earnings of $1.11.
Total revenues for the quarter amounted to $126.9 million, down 28% year over year. The downside can be primarily attributed to a decline in revenues in pre/regular season tickets, suite as well as sponsorship and signage.
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 loss came in at $7.8 million against operating income of $29.5 million reported in the year-earlier quarter.
Balance Sheet
As of June 2023 end, cash and cash equivalents totaled $40.4 million compared with $91 million as of Jun 30, 2022. As of Jun 30, 2023, the company had long-term debt of $295 million, up from $220 million in the year-ago quarter.
Zacks Rank and Key Picks
Madison Square Garden Sports carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are:
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 140.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS implies gains of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has increased 22.7% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates rises of 44.5% and 107.1%, respectively, from the year-earlier period’s levels.
Trip.com Group Limited (TCOM - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 147.9%, on average. The stock has improved 51.5% in the past year.
The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS suggests increases of 104.9% and 537.9%, respectively, from the prior-year period’s levels.