Q2 2026 Madison Square Garden Sports Corp Earnings Call Transcript
Key Points
- Madison Square Garden Sports Corp (MSGS) reported revenues of approximately $403 million for the fiscal 2026 second quarter, reflecting positive momentum in key operating areas.
- The Knicks and Rangers combined season ticket renewal rate was approximately 94%, indicating strong fan loyalty and engagement.
- There was a year-over-year increase in per game ticketing revenue, driven by optimized pricing and mix of individual and group sales.
- The company signed new multiyear partnerships with PwC and Poly market, and renewed agreements with Anheuser Busch and Infosys, highlighting strong marketing partnerships.
- Madison Square Garden Sports Corp (MSGS) refinanced its senior secured revolving credit facilities, improving average borrowing rates and extending maturity terms, demonstrating financial strength and flexibility.
- National and local media rights fees decreased by 4% year over year, primarily due to amended local media rights agreements with MSG Networks.
- The company faces higher direct operating expenses, including increased team personnel compensation and luxury tax, which partially offset revenue gains.
- The amended agreements with MSG Networks include a reduction in annual rights fees payable to the Knicks and Rangers, impacting future revenue streams.
- There is uncertainty regarding the potential impact of upcoming changes to tax deductibility of compensation set to begin in 2027.
- The company has not ruled out a minority interest sale but has no current plans, indicating potential uncertainty in capital strategy.
Good morning. Thank you for standing by, and welcome to the Madison Square Garden Sports Corp., fiscal 2026 second-quarter earnings conference call. (Operator Instructions)
I would now like to turn the call over to Ari Danes, Investor Relations. Please go ahead.
Thank you. Good morning, and welcome to MSG Sports fiscal 2026 second-quarter earnings conference call. Our Chief Operating Officer, Jamaal Lesane, will begin this morning's call with an update on the company's strategy and operations. This will be followed by a review of our financial results with Victoria Mink, our EVP, Chief Financial Officer and Treasurer. After our prepared remarks, we will open up the call for questions.
If you do not have a copy of today's earnings release, it is available in the Investors section of our corporate website. Please take note of the following. Today's discussion may contain forward-looking statements within the meaning of the Private
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