MADISON SQUARE GARDEN ENTERTAINMENT Announces Fiscal Year 2023 Fourth Quarter Earnings for Period Ending June 30, 2023
August 23, 2023
☀️Earnings Overview
MADISON SQUARE GARDEN ENTERTAINMENT ($NYSE:MSGE) reported a total revenue of USD 147.9 million for the fourth quarter of their fiscal year 2023, which ended on June 30 2023, on August 18 2023. The total revenue for the quarter was a 17.0% decrease from the same quarter in the prior year; however, the net income reported was -24.5 million, a significant improvement from the -138.0 million reported the year before.
Share Price
The company’s stock opened at $30.2 and closed at $32.8, a rise of 7.0% from the previous closing price of $30.6. This marked an impressive increase in MADISON SQUARE GARDEN ENTERTAINMENT’s stock value and served as a testament to the success of the company’s financial performance.
Additionally, the company’s net income was higher than expected due to increased efficiency coupled with cost-saving measures. The impressive financial results have been credited to the company’s focus on developing new products and services while still maintaining a commitment to providing excellent customer service. Overall, the results of MADISON SQUARE GARDEN ENTERTAINMENT’s fourth-quarter earnings report were overwhelmingly positive, with shareholders celebrating the increase in stock prices. The company’s success is indicative of a bright future ahead, as they continue to strive to further expand their reach in the entertainment industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MSGE. More…
| Total Revenues | Net Income | Net Margin |
| 851.5 | 76.6 | 7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MSGE. More…
| Operations | Investing | Financing |
| 135.69 | 30.3 | -144.22 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MSGE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.4k | 1.47k | -1.36 |
Key Ratios Snapshot
Some of the financial key ratios for MSGE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.4% | – | 15.2% |
| FCF Margin | ROE | ROA |
| 14.2% | -624.0% | 5.8% |
Analysis
At GoodWhale, we understand the importance of analyzing a company’s fundamentals before investing in it. That’s why we have made it easy to review MADISON SQUARE GARDEN ENTERTAINMENT’s financial and business aspects. Our Risk Rating system gives MADISON SQUARE GARDEN ENTERTAINMENT a medium risk rating, which means there is a moderate risk associated with investing in the company. We also detected 2 risk warnings in MADISON SQUARE GARDEN ENTERTAINMENT’s income sheet and balance sheet. As a GoodWhale registered user, you can access more information about these warnings and make more informed decisions when it comes to investing in the company. More…
Peers
The competition between Madison Square Garden Entertainment Corp and its competitors is fierce. Madison Square Garden Sports Corp, Lions Gate Entertainment Corp, and Seoul Broadcasting System Co Ltd are all vying for a piece of the pie, and each company has its own unique strengths and weaknesses.
– Madison Square Garden Sports Corp ($NYSE:MSGS)
Madison Square Garden Sports Corp owns and operates sports and entertainment venues. The company has a market cap of $3.62B and a ROE of -33.12%. The company owns and operates Madison Square Garden, the Hulu Theater at Madison Square Garden, Radio City Music Hall, the Beacon Theatre, and the Chicago Theatre. The company also owns and operates the New York Knicks, the New York Rangers, and the New York Liberty.
– Lions Gate Entertainment Corp ($NYSE:LGF.B)
Lions Gate Entertainment Corp is a Canadian entertainment company with a market cap of 1.49B as of 2022. The company has a Return on Equity of -66.97%. The company is involved in the production and distribution of films and television shows.
– Seoul Broadcasting System Co Ltd ($KOSE:034120)
Seoul Broadcasting System Co Ltd is a South Korean national radio and television broadcasting company. It is the largest broadcaster in the country with 17 radio and television networks, including the flagship SBS TV channel. The company also operates several cable TV channels and radio stations. In addition to its broadcasting business, SBS also has a large production arm that produces some of the country’s most popular television shows and movies.
Summary
Madison Square Garden Entertainment reported total revenue of USD 147.9 million in the fourth quarter of fiscal year 2023, a 17.0% decrease from the same quarter a year prior. Although net income of -24.5 million was reported, this was still an improvement from the prior year’s -138.0 million. The stock price moved up the same day, which is a positive sign for investors. Going forward, potential investors should consider the company’s overall financials, including revenue, net income and operating expenses, in order to determine the company’s long-term ability to generate profits and grow its business.
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