Madison Square Garden Raises FY2024 Sales Guidance from $930M-$950M to $940.00M-950.00M Vs. $1.05B Estimate

Financial Guidance

As a result of the positive momentum across its operations, the Company is narrowing its fiscal 2024 guidance for revenues and increasing its fiscal 2024 guidance for operating income and adjusted operating income. The Company currently expects the following:

• Revenues of $940 million to $950 million, as compared to its prior range of $930 to $950 million.
• Operating income of $100 million to $110 million, as compared to the prior range of $95 to $105 million.
• Adjusted operating income of $200 million to $210 million, as compared to the prior range of $195 to $205 million. The Company's AOI range now includes approximately $25 million in non-cash operating lease revenue related to the Company's Arena License Agreements with MSG Sports.(3)