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Atlanta Braves Holdings Inc (BATRA-0.22%). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenue to $290,674,000 from $271,824,000 in the same quarter the previous year. This increase is attributed to new sponsorship agreements and contractual rate increases.
Baseball operating costs for the quarter were $225,973,000, compared to $198,195,000 in the same quarter of the previous year, primarily due to increases in player salaries and MLB's revenue sharing plan.
The company reported a net earnings of $10,020,000 for the quarter, compared to a net loss of $6,047,000 in the previous year.
Cash and cash equivalents at the end of the period were $100,852,000, down from $125,148,000 at the end of the previous year.
Atlanta Braves Holdings is in compliance with all financial debt covenants as of September 30, 2024.
The filing also details various financial agreements, including the MLB Facility Fund Revolver and the TeamCo Revolver.
The company is transitioning certain services previously provided by Liberty Media Corporation (LSXMA0.00%) to its own management, including legal, tax, and investor relations support.
The report discusses the potential impact of the Diamond Sports Group (SBGI-0.28%) bankruptcy on the company's broadcasting revenue.
Atlanta Braves Holdings continues to focus on its baseball operations and mixed-use development, with revenue from the latter increasing due to higher parking and rental income.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Atlanta Braves Holdings Inc. Series A Common Stock quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.