Atlanta Braves Holdings Earnings Call Transcripts
Fiscal Year 2026
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The meeting covered director re-election and auditor ratification, both passing with strong majorities. No shareholder questions were raised, and final voting results will be reported in a Form 8-K.
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Revenue rose 52% year-over-year to $72M in Q1 2026, driven by increased home games and strong mixed-use development. BravesVision launched successfully, with expectations to meet or exceed prior RSN economics. Cash position remains strong at $135.2M.
Fiscal Year 2025
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Revenue grew to $732M in 2025, driven by strong ticket sales, sponsorships, and mixed-use development. BravesVision launches as the team takes control of local media rights, while The Battery Atlanta continues to deliver record tenant sales and year-round engagement.
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Q3 2025 revenue grew 7% to $312M, with strong gains in both baseball and mixed-use segments. Adjusted OIBDA more than doubled, and the PennantPark acquisition boosted rental income. Ticket sales and sponsorships hit records, and the outlook includes active player investment and continued fan experience enhancements.
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Q2 2025 revenue grew over 10% to $312M, driven by strong baseball and mixed-use development segments, with Adjusted EBITDA up to $66M. Despite major player injuries impacting team performance, the business model and real estate assets delivered robust results, and outlook remains positive for 2026.
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Upcoming CBA and media rights renewals are seen as major growth catalysts, with a focus on nationalizing media, expanding mixed-use development, and leveraging technology for fan engagement and revenue. The organization aims to close its valuation gap through innovation and transparency.
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The meeting covered director elections and auditor ratification, with both proposals passing by overwhelming majority. No questions were raised by stockholders, and final voting results will be filed in a Form 8-K.
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Q1 2025 revenue grew 27% year-over-year, driven by higher baseball and mixed-use development income. The Pennant Park acquisition expands the real estate portfolio, and new media partnerships are boosting fan engagement and streaming options.
Fiscal Year 2024
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Full-year 2024 revenue rose to $662.7M, driven by growth in both baseball and mixed-use segments, while operating losses narrowed. New media partnerships expand fan access, and The Battery Atlanta continues to grow as a year-round destination.
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Liberty announced major structural simplification, spinning off Liberty Live and focusing Liberty Media on motorsports, with strong growth in Formula 1, MotoGP, and Live Nation. F1 achieved record financials and fan engagement, while QVC pivots to live social shopping. Leadership transitions are underway, with a focus on long-term value and digital innovation.
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Revenue grew to $291M in Q3 2024, but operating income and adjusted EBITDA declined due to higher costs. Strong fan demand, ongoing investments in facilities, and new event opportunities support future growth, while media revenue faces uncertainty from Diamond Sports Group's bankruptcy.
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Liberty SiriusXM merger is on track, SiriusXM and Formula One posted strong financials, and Live Nation and the Braves delivered record results. F1 and MotoGP saw record attendance and engagement, while capital projects and sponsorship pipelines remain robust.
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The meeting confirmed a quorum, elected Brian Deevy to the Board, ratified KPMG as auditors, approved executive compensation, and set Say On Pay votes to every three years. No additional business was raised.