Filing Flows › Madison Square Garden Entertainment (MSGE) › Q3 FY25
Madison Square Garden Entertainment (MSGE) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed May 6, 2025
Madison Square Garden Entertainment (MSGE) reported revenue of $242M for the third quarter fiscal 2025 (Q3 FY25), +6% from a year earlier and -40% from the quarter before. Operating margin was 11.3%, net earnings $8.0M (3.3% of revenue).
Madison Square Garden Entertainment, Q3 FY25: revenue $242M (+6% year over year), operating margin 11.3%, net earnings $8.0M, operating cash flow $56.8M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $242M | -40% | +6% |
| Operating profit | $27.3M | -80% | +63% |
| Net earnings | $8.0M | -89% | +188% |
| Operating cash flow | $56.8M | -50% | +876% |
What changed
Revenue was $242.5M in Q3 FY25, up 6% year over year and down 40% from the previous quarter. Revenues from entertainment offerings was the largest line at 66% of revenue. Revenues from entertainment offerings added $14.0M year over year (up 10%), 99% of the total change.
Operating profit was $27.3M, a 11.3% margin (up 3.9 points year over year). Of the extra revenue versus a year earlier, 74% reached operating profit, above the 7% margin then. Total costs grew 2% against revenue growth of 6%. Net earnings were $8.0M, up 188% year over year. The effective tax rate was 47.4%.
Operating cash flow was $56.8M (up 876% year over year), 707% of net earnings. Non-cash charges added back $14.4M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items added $28.2M. Capital expenditures of −$29K left free cash flow of $56.8M.
Questions
What was Madison Square Garden Entertainment's revenue in the third quarter fiscal 2025?
Madison Square Garden Entertainment (MSGE) reported revenue of $242M for the third quarter fiscal 2025 (Q3 FY25), +6% from a year earlier and -40% from the quarter before.
Was Madison Square Garden Entertainment profitable in the third quarter fiscal 2025?
Operating profit was $27.3M (11.3% of revenue) and net earnings $8.0M.
Source: Madison Square Garden Entertainment 10-Q on SEC EDGAR.