Madison Square Garden Sports Registers 19% Revenue Growth In Q4

Madison Square Garden Sports Corp MSGS reported fourth-quarter FY22 sales growth of 19% year-on-year to $175.21 million, versus $146.90 million last year.
Direct operating expenses fell 6.1% Y/Y to $92.8 million.
Operating income for the quarter was $23.7 million, with an operating margin of 13.5%.
EPS was $1.11 versus $2.03 last year.
The company held $91 million in cash and equivalents as of June 30, 2022.
Net cash provided by operating activities for twelve months totaled $178.1 million.
CEO Andrew Lustgarten said, "Over the course of the fiscal year, we continued to see significant demand for the Knicks and Rangers from our fans and corporate partners, which drove record-high financial results for our Company. Looking ahead, we already see this momentum carrying over into fiscal 2023 and remain confident that we are well positioned to drive long-term growth and shareholder value."
Price Action: MSGS shares are trading higher by 5.40% at $169.86 on the last check Thursday.

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