Filing Flows › Madison Square Garden Entertainment (MSGE) › Q1 FY27
Madison Square Garden Entertainment (MSGE) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Nov 4, 2026
Madison Square Garden Entertainment (MSGE) reported revenue of $217M for the first quarter fiscal 2027 (Q1 FY27), +37% from a year earlier and -20% from the quarter before. Operating margin was 4.5%, net earnings $8.9M (4.1% of revenue).
Madison Square Garden Entertainment, Q1 FY27: revenue $217M (+37% year over year), operating margin 4.5%, net earnings $8.9M, operating cash flow −$26.2M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $217M | -20% | +37% |
| Operating profit | $9.7M | — | — |
| Net earnings | $8.9M | — | — |
| Operating cash flow | −$26.2M | — | -232% |
What changed
Revenue was $217.1M in Q1 FY27, up 37% year over year and down 20% from the previous quarter. Ticketing and venue license fee revenues was the largest line at 58% of revenue. Ticketing and venue license fee revenues added $41.1M year over year (up 48%), 70% of the total change.
Operating profit was $9.7M, a 4.5% margin (up 23.3 points year over year). Total costs grew 10% against revenue growth of 37%. The fastest-growing cost line was SG&A (+18%). Net earnings were $8.9M. The tax line was a benefit of $6.6M on pre-tax earnings of $2.3M.
Operating cash flow was −$26.2M. Non-cash charges added back $13.8M of depreciation and amortization and $9.6M of share-based compensation. Working capital and other items used $58.5M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$27.2M.
Questions
What was Madison Square Garden Entertainment's revenue in the first quarter fiscal 2027?
Madison Square Garden Entertainment (MSGE) reported revenue of $217M for the first quarter fiscal 2027 (Q1 FY27), +37% from a year earlier and -20% from the quarter before.
Was Madison Square Garden Entertainment profitable in the first quarter fiscal 2027?
Operating profit was $9.7M (4.5% of revenue) and net earnings $8.9M.
Source: Madison Square Garden Entertainment 10-Q on SEC EDGAR.