By Matt Grossman
Madison Square Garden Entertainment Corp. will report its fiscal-second-quarter earnings on Wednesday morning before trading begins. Here’s what to expect from the New York City-based entertainment and dining company.
-EARNINGS: Analysts polled by FactSet are expecting MSGE to swing to a fiscal-second-quarter profit of $1.51 a share. A year ago, MSGE recorded a loss of $5.17 a share.
-REVENUE: Analysts are forecasting revenue of $539 million. MSGE’s revenue in the year-ago quarter was $23.1 million.
WHAT TO WATCH
-Omicron impact: MSGE’s dining and entertainment venues, such as Madison Square Garden’s theater, Radio City Music Hall and the restaurants and nightlife operated by its Tao segment, are potentially sensitive to consumers’ changing attitudes about risks related to Covid-19. Wednesday’s results will give an indication of how business fared as the Omicron variant started surging in the U.S. in December.
-Reopening trade: After Madison Square Garden Co. split into MSGE and Madison Square Garden Sports Corp. in 2020, MSGE recorded a forgettable 2021. Through midday Tuesday, shares are down 27% over the last 12 months. Still, investors have looked more favorably on the stock in 2022 so far, with shares up 1.5% on the year. By contrast, the S&P 500 is down by 5.1% in that period.
Write to Matt Grossman at matt.grossman@wsj.com
