Madison Square Garden Entertainment Corp. (NYSE:MSGE) Q1 2024 Earnings Conference Call November 7, 2023 10:00 AM ET

Company Participants

Ari Danes – Senior Vice President, Investor Relations and Treasury

Dave Byrnes – Executive Vice President and Chief Financial Officer

Conference Call Participants

Peter Supino – Wolfe Research

Stephen Laszczyk – Goldman Sachs

Brandon Ross – Lightshed Partners

Ben Swinburne – Morgan Stanley

David Karnovsky – J.P. Morgan

Peter Henderson – Bank of America

Operator

Good morning. Thank you for standing by, and welcome to the Madison Square Garden Entertainment Corp. Fiscal 2024 First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ remarks, there will be a question-and-answer session.

I would now like to turn the call over to Ari Danes, Senior Vice President, Investor Relations and Treasury. Please go ahead.

Ari Danes

Thank you. Good morning, and welcome to MSG Entertainment's fiscal 2024 first quarter earnings conference call. On today's call, Dave Byrnes, our EVP and Chief Financial Officer, will provide an update on the company's operations and review our financial results for the quarter. After our prepared remarks, we will open up the call for questions. If you do not have a copy of today's earnings release, it is available in the Investors section of our corporate website. Please take note of the following.

Today's discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

Please refer to the company's filings with the SEC for a discussion of risks and uncertainties. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call. On Pages 5 and 6 of today's earnings release, we provide consolidated statements of operations and a reconciliation of operating income to adjusted operating income, or AOI, a non-GAAP financial measure.

And with that, I'll now turn the call over to Dave.

Dave Byrnes

Thank you, Ari, and good morning, everyone. We are now several months into our first full year as a stand-alone company. And based on a number of positive signs across our business, we are increasingly confident in our ability to deliver robust revenue and AOI growth for fiscal 2024. On the bookings front, our calendar continues to fill up and the Garden, the theater at MSG and the Beacon Theatre are all now pacing to exceed our concert goals for the year. At the same time, advanced ticket sales for the Christmas Spectacular remained strong, and we've added more shows to the upcoming holiday season run.