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Atlanta Braves Holdings (BATRA) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Atlanta Braves Holdings (BATRA) Q3 2026 earnings results →
Q3 2026 Revenue up 4% year over year to $325M · 3¢ of every $1 of revenue kept as net profit · operating margin 2.7%
Atlanta Braves Holdings made $325M in Q3 2026 (+4% Y/Y): Baseball $296M, Mixed-Use Development $29.1M. Operating margin 2.7%, net earnings $9.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $324.6M in Q3 2026, up 4% year over year and up 6% from the previous quarter. Baseball was the largest line at 91% of revenue. Baseball added $11.2M year over year (up 4%), 85% of the total change.
Operating profit was $8.7M, a 2.7% margin (down 9.8 points year over year). Operating profit fell $30.3M even though revenue rose $13.1M versus Q3 2025, so costs grew faster than sales. Total costs grew 16% against revenue growth of 4%. The fastest-growing cost line was SG&A (+21%). Net earnings were $9.8M, down 67% year over year. The effective tax rate was 39.9%. Non-operating items added $7.6M, 47% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$63.8M. Non-cash charges added back $24.9M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items used $105.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $325M | +4% | 2.7% | $9.8M | −$63.8M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $305M | -2% | -6.1% | −$12.1M | −$64.1M |
| Q1 2026 | 10-Q | May 11, 2026 | $72.0M | +52% | -57.3% | −$40.4M | $62.5M |
| Q4 2025 | 10-K | Feb 26, 2026 | $61.3M | +18% | -81.2% | −$41.5M | $26.4M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $312M | +7% | 12.5% | $30.1M | −$88.8M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $312M | +10% | 13.4% | $29.5M | −$8.1M |
| Q1 2025 | 10-Q | May 12, 2025 | $47.2M | +27% | -94.2% | −$41.4M | $95.8M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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📈Investments: gains and what it boughtinteractive
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About Atlanta Braves Holdings
Atlanta Braves Holdings, Inc. (“Atlanta Braves Holdings,” “the Company,” “us,” “we,” or “our”) is primarily comprised of Braves Holdings, LLC (“Braves Holdings”), a wholly-owned subsidiary, and corporate cash. On July 18, 2023, Liberty Media Corporation (“Liberty” or “Liberty Media”), the then current parent organization of the Company, completed the previously announced redemption of each outstanding share of its Liberty Braves common stock in exchange for one share of the corresponding series of common stock of a newly formed entity, Atlanta Braves Holdings (the “Split-Off”). The Split-Off was intended to be tax-free to holders of Liberty Braves common stock and in September 2024, the Internal Revenue Service completed its review of the Split-Off and notified Liberty that it agreed with the non-taxable characterization of the transaction.
In its own words, from its 10-K, filed Feb 26, 2026.
Atlanta Braves Holdings against its Services-Amusement & Recreation Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +10%. Operating margin: 2.7% against the peers' median 7.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BATRA Atlanta Braves Holdings | Q3 2026 | $325M | +4% | 2.7% |
| LYV Live Nation Entertainment | Q3 2026 | $10.1B | +19% | 8.8% |
| WMG Warner Music Group | Q3 FY26 | $1.9B | +10% | 16.4% |
| TKO TKO Group Holdings | Q3 2026 | $1.4B | +22% | 27.8% |
| FUN Six Flags Entertainment | Q3 2026 | $1.2B | -11% | -25.6% |
| ACEL Accel Entertainment | Q3 2026 | $364M | +10% | 7.9% |
| LUCK Lucky Strike Entertainment | Q1 FY27 | $303M | +4% | 9.3% |
| SPHR Sphere Entertainment | Q3 2026 | $274M | +4% | -87.7% |
| LLYVA Liberty Live Holdings | Q3 2026 | $106M | +72% | -11.0% |
Source: Atlanta Braves Holdings 10-Q on SEC EDGAR · CIK 1958140 · Services-Amusement & Recreation Services
Guidance and outlook
13F: who owns BATRA and who is buying
More on BATRA
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results