Madison Square Garden Sports Corp (MSGS) Q3 2019 10-Q Quarterly Earnings

Short answer

Madison Square Garden Sports Corp (MSGS) filed its Q3 2019 10-Q quarterly report on Nov 8, 2019 for the quarter ended Sep 30, 2019.

AI summary of MD&A and risk factor updates

Revenue $214.782M, down 2% YoY from $218.135M
Operating margin negative 41.6% vs negative 23.3% YoY, operating loss $89.318M vs $50.785M
Best segment MSG Sports revenue $56.034M, up 1% YoY; worst MSG Entertainment revenue $159.007M, down 2%
Cash, equivalents and restricted cash $983.535M vs $1.118B at June 30; operating cash outflow $34.234M vs $44.672M
Las Vegas Sphere cost estimate approximately $1.7B vs preliminary $1.2B; London opening target withdrawn amid planning delays

MSG Sphere Las Vegas cost escalation: AECOM estimate approximately $1,700,000 versus preliminary budget $1,200,000
MSG Sphere London planning delay: Determination moved into calendar 2020, eliminating the previously expected opening timeframe
Financing risk: Additional capital required beyond cash, operations and revolving facilities, with no assurance of availability
Near-term operating risk: MSG Sports adjusted operating loss $13,660, driven by $10,910 higher team personnel provisions
Currency risk: 5% GBP/USD fluctuation would change net asset value approximately $14.6 million

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

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