NYSE$SPHR
Sphere Entertainment Co · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Reported financial results for the fiscal third quarter as a standalone company, following its spin-off from Madison Square Garden Sports Corp.
MSG Entertainment reported a 20% decrease in revenue to $199.9 million and an operating loss of $145.5 million, which includes $102.2 million in impairment charges related to Tao Group Hospitality, due to the COVID-19 pandemic and venue closures.
- Revenues decreased by 20% compared to the prior year period, primarily due to lower event-related revenues and the temporary closure of venues due to COVID-19.
- Operating loss increased by $126.9 million to $145.5 million, including $102.2 million in non-cash impairment charges related to Tao Group Hospitality.
- Adjusted operating income decreased by $25.2 million to a loss of $7.2 million.
- The COVID-19 pandemic led to the temporary closure of MSG Entertainment’s performance venues in March 2020, with virtually all events postponed or canceled through June.
Headline financials
Revenue & EPS history
Sphere Entertainment Co · Revenue · Quarterly
$200M
Revenue by segment
Sphere Entertainment Co · $110M total across 1 segment · Q1 2024
- MSG Networks$110M-10.0%100.0%
Forward guidance
MSG Entertainment faces uncertainty due to COVID-19, which has led to venue closures and event cancellations, impacting revenue and construction projects.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports
+1.5%
Avg return
Earnings day
+2.6%
Avg return
5 days after
+2.7%
Avg return
30 days after
46%
12 / 26 earnings
Positive
+22.1%
Q4 2025
Best reaction
-15.1%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +22.1% | +21.0% | +11.5% | |
| Q3 2026 | +4.7% | +16.2% | +24.8% | |
| Q1 2026 | +4.7% | +16.2% | +24.8% | |
| Q1 2025 | +9.2% | +26.1% | +26.5% | |
| Q2 2026 | -2.0% | -18.8% | -23.3% | |
| Q4 2024 | +0.7% | +21.5% | +3.6% | |
| Q3 2024 | +0.9% | -8.4% | -11.0% | |
| Q2 2024 | -0.3% | +13.8% | +35.9% | |
| Q1 2024 | +2.2% | +2.9% | -2.2% | |
| Q4 2023 | +4.0% | -7.9% | -1.1% | |
| Q3 2023 | -15.1% | -25.9% | -11.3% | |
| Q2 2023 | +8.3% | +13.8% | +6.6% | |
| Q1 2023 | -2.2% | -4.0% | -9.3% | |
| Q4 2022 | -7.1% | -3.3% | -12.3% | |
| Q2 2022 | -7.1% | -3.3% | -12.3% | |
| Q3 2022 | -11.3% | -11.9% | -5.0% | |
| Q1 2022 | -8.5% | -9.8% | -17.3% | |
| Q4 2021 | +17.9% | +26.7% | +21.7% | |
| Q2 2021 | +17.9% | +26.7% | +21.7% | |
| Q3 2021 | +5.2% | -3.2% | +4.2% | |
| Q1 2021 | -1.2% | -4.3% | +0.1% | |
| Q1 2020 | -1.2% | -4.3% | +0.1% | |
| Q2 2020 | -0.3% | +4.8% | -8.8% | |
| Q4 2020 | -0.3% | -8.3% | +6.1% | |
| Q4 2019 | -1.6% | -3.9% | -2.2% | |
| Q3 2020 | -1.6% | -3.9% | -2.2% | |
| Q3 2019 | — | — | — |
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