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Income Statement
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Sphere Entertainment Co. (MSGE)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsJun-30-23Jun-30-22Jun-30-21Jun-30-20Jun-30-19
   10-K10-K10-K10-K10-K/A
Revenues:  
    MSG Networks  571.2608.2647.5685.8 
    Tao Group Hospitality     180.2 
    Other     570.0 
Total revenues  571.2608.2647.51,436.01,048.9
            Revenue growth   [+]-6.1%-6.1%-54.9%36.9% 
Cost of goods sold  0.00.00.0790.5670.6
Gross profit  571.2608.2647.5645.5378.3
            Gross margin  100.0%100.0%100.0%45.0%36.1%
Selling, general and administrative  -131.3-111.2-122.0433.2314.5
Equity in earnings     -4.47.1
Other operating expenses  968.4985.41,093.0105.8 
EBITDA   [+]-59.2-16.8-79.5102.170.8
            EBITDA margin  -10.4%-2.8%-12.3%7.1%6.8%
Depreciation  100.3118.9118.594.995.9
EBITA  -159.4-135.6-198.07.2-25.1
            EBITA margin  -27.9%-22.3%-30.6%0.5%-2.4%
Amortization of intangibles  3.15.83.517.213.4
EBIT   [+]-162.5-141.4-201.5-10.0-38.5
            EBIT margin  -28.5%-23.2%-31.1%-0.7%-3.7%
Non-recurring items   [+]-27.913.4 -240.8 
Interest income, net   [+]   -14.324.6
Other income (expense), net  536.9-5.5-3.935.1-6.1
Pre-tax income  402.3-160.3-205.4251.5-20.0
Income taxes  -103.429.8-38.9101.70.4
            Tax rate    18.9%40.4% 
Earnings from continuing ops  172.0-137.94.6149.8-20.5
Earnings from discontinued ops  333.7-52.3-171.1  
Net income  505.7-190.1-166.5149.8-20.5
            Net margin  88.5%-31.3%-25.7%10.4%-2.0%
   
Basic EPS   [+]$4.96($4.02)$0.14$4.30($852.91)
Diluted EPS   [+]$4.93($4.02)$0.13$4.29($852.91)
   
Shares outstanding (basic)   [+]34.734.334.134.90.0
Shares outstanding (diluted)   [+]34.934.334.334.90.0
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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