Record Revenues of $821.4 Million, Operating Income of $86.1 Million and AOI of $142.2 Million for FY2022(1)(2)
FY2022 Fourth Quarter Revenues of $175.2 Million, Operating Income of $23.7 Million and AOI of $33.2 Million(1)
NEW YORK, N.Y., August 18, 2022 – Madison Square Garden Sports Corp. (NYSE: MSGS) today reported financial results for the fourth quarter and fiscal year ended June 30, 2022.
The fiscal 2022 fourth quarter was highlighted by the New York Rangers’ (“Rangers”) participation in the NHL playoffs, which included 10 home playoff games at the Madison Square Garden Arena (“The Garden”) and culminated in the team’s return to the Eastern Conference Finals. This followed the completion of full 2021-22 regular season schedules for both the New York Knicks (“Knicks”) and Rangers. The Company continued to benefit from robust consumer and corporate demand through the end of the seasons, capping off a year that saw record full-year financial results for revenues, operating income and adjusted operating income, with every major revenue category – tickets, media rights, suites and sponsorships, as well as food, beverage and merchandise – exceeding results for fiscal 2019, which was the last full year prior to the pandemic.(1)(2)
Results for the fourth quarter and fiscal year ended June 30, 2022 reflect significant improvement compared to the COVID-19 impacted fourth quarter and fiscal year ended June 30, 2021. For fiscal 2022, the Company generated revenues of $821.4 million as compared to $415.7 million in revenues in the prior year. In addition, the Company had operating income of $86.1 million and adjusted operating income of $142.2 million, compared to an operating loss of $78.4 million and an adjusted operating loss of $12.5 million in the prior year.(1)
For the fiscal 2022 fourth quarter, the Company generated revenues of $175.2 million as compared to $146.9 million in revenues in the prior year quarter. In addition, the Company had operating income of $23.7 million and adjusted operating income of $33.2 million, compared to an operating loss of $20.8 million and an adjusted operating loss of $5.8 million in the prior year quarter.(1)
Madison Square Garden Sports Corp. President and CEO Andrew Lustgarten said, “Over the course of the fiscal year, we continued to see significant demand for the Knicks and Rangers from our fans and corporate partners, which drove record-high financial results for our Company. Looking ahead, we already see this momentum carrying over into fiscal 2023 and remain confident that we are well positioned to drive long-term growth and shareholder value.”