10-Q quarterly report · filed Feb 1, 2019

Madison Square Garden Sports Corp (MSGS) Q4 2018 10-Q Quarterly Report

Short answer

Madison Square Garden Sports Corp (MSGS) filed its Q4 2018 10-Q quarterly report on Feb 1, 2019 for the quarter ended Dec 31, 2018.

Madison Square Garden Sports Corp Q4 2018 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Quarterly revenue $632.187M, up $95.885M YoY, with ASC 606 limiting comparability
  • Operating margin 12.4% vs 13.7% YoY, net income $75.968M vs $187.991M
  • Best segment MSG Entertainment revenue $316.514M, operating income $93.274M, up 25%
  • Worst segment MSG Sports operating income $41.832M, down 16%, driven by $37.996M higher personnel transaction provisions
  • Cash, equivalents and restricted cash $1.252B, operating cash flow $28.519M vs $52.599M; venue construction expected to require additional capital

Risk Factors

  • Newly disclosed Sports Distribution risk: completion depends on league approvals, IRS private letter ruling, tax opinion and final Board approval
  • Regulatory risk: proposed spin-off timing targeted for the second half of calendar year 2019 remains uncertain
  • Operational risk: ASC Topic 606 shifted suite-license revenue recognition to event timing, increasing quarterly volatility
  • Financial risk: operating cash flow fell to $28,519 from $52,599 for the six months ended December 31, 2018

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

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