MSGS reports fiscal Q4 operating loss of $22.6M; full-year adjusted OI down 78%

Madison Square Garden Sports Corp.

2025-FY EPS reported -$0.93 revenue$1,039,220,000

Full-year revenue $1.039B (+1% YoY); operating income $14.8M (down 90% from $146M).
Q4 revenue $204M (-10% YoY); operating loss $22.6M vs prior-year income $52.3M.
Full-year adjusted operating income $38.2M, down 78% from $172.2M.
Per-game ticket, sponsorship and suite revenue grew; local media rights fees declined under amended MSG Networks agreements.
CEO cites continued demand for Knicks/Rangers and confidence in franchise value despite current investment phase.

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