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As sports return to NYC, MSG Sports beats EPS estimates by 467.7%

14:36, 19 August 2021

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Madison Square Garden
Madison Square Garden - Photo: Shutterstock

MSG Sports beat both top and bottom-line estimates handily, the company reported Thursday morning, with earnings-per-share coming in at $2.03, versus estimates of a $0.55 per-share loss – a 467.7% outperformance.

Revenue, which also topped expectations, totalled $146.9m, against the expected $120.2m, according to a release.

Madison Square Garden Sports – which trades on NYSE as MSGS – said fans returned to the Garden in February for Knicks and Rangers home games, with capacity capped at 10%.

Knicks, Rangers among assets

Some of the company’s assets include the New York Knicks and the New York Rangers, two development league teams – the Westchester Knicks and the Hartford Wolf Pack – and esports teams through Counter Logic Gaming, a leading North American esports organization, and Knicks Gaming, an NBA 2K League franchise. MSG Sports also operates two professional sports team performance centres – the MSG Training Center in Greenburgh, New York and the CLG Performance Center in Los Angeles, California.

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