MSGS FY 2018 Earnings Report — Madison Square Garden Sports Corp. Revenue & Financial Results | Market Cap Arena

Madison Square Garden Sports Corp.MSGS

FY 2018 Earnings

Reported August 16, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.3B	—	18.3%
Op. Income	$23M	—	-$53M	—	143.3%
Gross Margin	31.6%	—	26.5%	—	5.1pp
Net Margin	9.1%	—	-5.5%	—	14.6pp
EPS (Diluted)	$5.94	—	$-3.05	—	294.8%
Free Cash Flow	$29M	—	$172M	—	-83.3%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$492M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$469M
Other Expenses	$0
Operating Expenses	$469M
Cost & Expenses	$1.5B
OPERATING INCOME	$23M
Interest Income	$901.0K
Interest Expense	$3M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$18M
Income Tax Expense	-$117M
Net Income from Continuing Ops	$134M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$142M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$142M
D&A	$122M
EBIT	$33M
EBITDA	$155M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$492M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$469M
Other Expenses	$0
Operating Expenses	$469M
Cost & Expenses	$1.5B
OPERATING INCOME	$23M
Interest Income	$901.0K
Interest Expense	$3M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$18M
Income Tax Expense	-$117M
Net Income from Continuing Ops	$134M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$142M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$142M
D&A	$122M
EBIT	$33M
EBITDA	$155M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$142M
Depreciation & Amortization	$122M
Stock-Based Compensation	$48M
Deferred Income Tax	-$117M
Other Non-Cash Items	$5M
Change in Working Capital	$18M
OPERATING CASH FLOW	$221M
Capital Expenditure	-$192M
Acquisitions (Net)	-$4M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$20M
NET CASH FROM INVESTING	-$182M
Net Debt Issuance	-$688.0K
Common Stock Repurchased	-$12M
Common Dividends Paid	$0
Other Financing Activities	-$39M
NET CASH FROM FINANCING	-$51M
FREE CASH FLOW	$29M
Net Change in Cash	-$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$106M
Inventory	$0
Other Current Assets	$24M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$1.3B
Goodwill	$393M
Intangible Assets	$420M
Long-Term Investments	$210M
Tax Assets	$94M
Other Non-Current Assets	$45M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$3.8B
Account Payables	$43M
Short-Term Debt	$4M
Deferred Revenue	$325M
Other Current Liabilities	$270M
TOTAL CURRENT LIABILITIES	$766M
Long-Term Debt	$101M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$173M
Other Non-Current Liabilities	$160M
TOTAL NON-CURRENT LIABILITIES	$434M
TOTAL LIABILITIES	$1.2B
Common Stock	$249.0K
Additional Paid-In Capital	$2.8B
Retained Earnings	-$11M
Treasury Stock	-$224M
Accum. Other Comp. Income	-$47M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$94M
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$106M
Net Debt	-$1.2B