Atlanta Braves Holdings Inc Class A ( (BATRA) ) has released its Q4 earnings. Here is a breakdown of the information Atlanta Braves Holdings Inc Class A presented to its investors.
Atlanta Braves Holdings Inc. is a company primarily involved in the sports and entertainment industry, known for owning and operating the Major League Baseball team, the Atlanta Braves, and engaging in mixed-use real estate development.
In its latest earnings report for the fourth quarter and full year of 2024, Atlanta Braves Holdings Inc. announced a total revenue increase to $663 million in Q4, up from $641 million in the same period last year. The company also highlighted the opening of a new food hall, Outfield Market, as part of its mixed-use development initiatives.
Key financial metrics revealed a 2% increase in baseball revenue to $595 million for the year, driven by new sponsorship agreements and broadcasting revenue. Mixed-use development revenue saw a significant 14% rise, reaching $67 million, attributed to increased rental and parking income. Despite these gains, the company reported a 35% decline in baseball revenue for Q4 due to the absence of home games during the period.
Operating income and Adjusted OIBDA showed improvement, with a 15% increase in operating income for the year, aided by revenue growth and reduced selling, general, and administrative expenses. However, baseball operating costs rose due to higher player salaries and shared expenses, partially offset by reduced variable costs linked to lower game attendance.
Looking ahead, Atlanta Braves Holdings Inc. remains focused on leveraging its mixed-use development projects and strategic partnerships to drive future growth, while navigating the challenges posed by fluctuating game attendance and operational costs.