Madison Square Garden Sports Corp (MSGS) Q3 2017 10-Q Quarterly Earnings

Short answer

Madison Square Garden Sports Corp (MSGS) filed its Q3 2017 10-Q quarterly report on Nov 3, 2017 for the quarter ended Sep 30, 2017.

AI summary of MD&A and risk factor updates

Revenue $245.0M, up $63.4M YoY, driven by TAO Group and higher MSG Entertainment event revenue
Operating margin negative 6.4% vs negative 18.1% YoY, based on operating losses of $15.7M and $32.8M
Best segment MSG Entertainment: revenue $164.1M, operating income $9.7M vs loss $7.1M YoY
Cash $1,163.9M vs $1,238.1M at June 30; operating cash outflow $32.4M, share repurchases lower YoY
Outlook: potentially lower fiscal 2018 regular-season ticket revenue; continued venue expansion and Las Vegas development plans

No material risk-factor changes disclosed from the June 30, 2017 10-K
Antitrust litigation: RMLC complaint alleges GMR violations of Sherman Act Section 2, with interim licenses extended through March 31, 2018
Esports integration risk: July 2017 CLG acquisition added a 65% controlling interest
Seasonal operating risk: NBA, NHL and Christmas Spectacular revenues remain concentrated in the second and third fiscal quarters
Debt risk: TAO term loan facility carries floating LIBOR-based interest of 7.50% to 8.00% and scheduled amortization begins March 31, 2018

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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