SPHR

In early May 2026, Sphere Entertainment Co. reported first-quarter 2026 results showing sales of US$386.41 million versus US$280.57 million a year earlier, with net loss narrowing to US$1.59 million from US$81.95 million and loss per share from continuing operations improving to US$0.04 from US$2.27. Beyond the headline figures, the quarter marked a shift to positive operating income driven largely by Sphere segment growth, supported by new residencies, successful Sphere Experiences such as The Wizard of Oz at Sphere, expanded sponsorship deals, and progress on new venues in Abu Dhabi and National Harbor. We’ll now examine how Sphere’s move to positive operating income and expanding Sphere venues network could influence its existing investment narrative. The future of work is here. Discover the 32 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. To own Sphere Entertainment, you need to believe its immersive Las Vegas venue and expanding Sphere network can sustain strong demand and high utilization, while capital intensity and content risk stay manageable. The shift to positive operating income in Q1 2026 supports that thesis and slightly reduces near term concerns about cash burn, but it does not remove the core risk that large new builds in Abu Dhabi and National Harbor may not ultimately earn their keep. The most relevant recent update here is the Q1 2026 earnings release itself, which showed revenue of US$386.41 million and an operating income of US$7.2 million, after a prior year operating loss. This improvement, driven by Sphere segment growth, new residencies, Sphere Experiences like The Wizard of Oz at Sphere, and new sponsorships, directly links to the key catalyst of building a recurring event slate that can better support the economics of future venues. But despite these early signs of operating traction, investors should still pay close attention to the risk that Sphere’s high upfront build costs and ongoing maintenance needs could... Read the full narrative on Sphere Entertainment (it's free!) Sphere Entertainment's narrative projects $1.3 billion revenue and $128.8 million earnings by 2029. This requires 2.5% yearly revenue growth and about a $95.4 million earnings increase from $33.4 million today. Uncover how Sphere Entertainment's forecasts yield a $136.36 fair value, in line with it...

NEW YORK, May 05, 2026--(BUSINESS WIRE)--Sphere Entertainment Co. (NYSE: SPHR) ("Sphere Entertainment" or the "Company") today reported financial results for the first quarter ended March 31, 2026. Recent highlights for the Company’s Sphere segment include: Plans to bring Sphere to Abu Dhabi and National Harbor continue to move forward, while the Company also remains in discussions with a significant number of markets globally regarding additional large and smaller-scale Sphere venues; The Wizard of Oz at Sphere, the Sphere Experience that opened in Las Vegas on August 28, 2025, surpassed its 500th showing in March; Metallica announced a new concert residency at Sphere, with 24 concerts planned beginning in October 2026, while Backstreet Boys announced they will return this summer, extending their residency run to 56 nights total; The Company continues to draw robust interest from Exosphere advertisers and sponsors, including the announcement in April of a new multi-year sponsorship agreement with Evian. For the three months ended March 31, 2026, the Company reported revenues of $386.4 million, an increase of $105.8 million, or 38%, as compared to the prior year quarter. In addition, the Company reported operating income of $7.2 million, an increase of $85.8 million, and adjusted operating income of $110.0 million, an increase of $74.0 million, both as compared to the prior year quarter.(1) Executive Chairman and CEO James L. Dolan said, "Today’s results demonstrate our continued success proving out Sphere’s business model. Looking ahead, we remain focused on maximizing that model’s full potential in Las Vegas, while executing on our long-term vision for a global network of Sphere venues." Segment Results for the Three Months Ended March 31, 2026 and 2025: Sphere For the first quarter 2026, the Sphere segment reported revenues of $266.0 million, an increase of $108.4 million, or 69%, as compared to the prior year quarter. Revenues related to The Sphere Experience increased $81.7 million as compared to the prior year quarter, which primarily reflected higher per-show revenue for The Wizard of Oz at Sphere. In the current year quarter, The Sphere Experience reflected 209 performances of The Wizard of Oz at Sphere as compared to 200 performances of Postcard from Earth and V-U2 An Immersive Concert Film in the prior year quarter. Event-related revenues increased...

Sphere Entertainment (SPHR) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.31 per share. This compares to a loss of $2.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +103.20%. A quarter ago, it was expected that this company would post a loss of $0.12 per share when it actually produced earnings of $1.23, delivering a surprise of +1125%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Sphere Entertainment, which belongs to the Zacks Media Conglomerates industry, posted revenues of $386.41 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 5.15%. This compares to year-ago revenues of $280.57 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Sphere Entertainment shares have added about 43.5% since the beginning of the year versus the S&P 500's gain of 5.2%. While Sphere Entertainment has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Sphere Entertainment was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complet...

Content production and distribution company Sphere Entertainment (NYSE:SPHR) will be reporting earnings this Tuesday before the bell. Here’s what you need to know. Sphere Entertainment beat analysts’ revenue expectations last quarter, reporting revenues of $394.3 million, up 27.9% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS and adjusted operating income estimates. Is Sphere Entertainment a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members. This quarter, the market is expecting Sphere Entertainment’s revenue to grow 31.2% year on year, a reversal from the 12.7% decrease it recorded in the same quarter last year. Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Sphere Entertainment has missed Wall Street’s revenue estimates multiple times over the last two years. Looking at Sphere Entertainment’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 41.1%, beating analysts’ expectations by 11.3%, and Monarch reported revenues up 8.9%, topping estimates by 5.2%. Rush Street Interactive traded up 16.6% following the results while Monarch was also up 15.9%. Read our full analysis of Rush Street Interactive’s results here and Monarch’s results here. There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 7% on average over the last month. Sphere Entertainment is up 19.5% during the same time and is heading into earnings with an average analyst price target of $138.45 (compared to the current share price of $151.00). ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable. These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.

NEW YORK, May 01, 2026--(BUSINESS WIRE)--Sphere Entertainment Co. (NYSE: SPHR) will host a conference call to discuss results for its first quarter ended March 31, 2026 on Tuesday, May 5, 2026 at 10:00 a.m. Eastern Time. The Company will issue a press release reporting its results prior to the market opening. To participate via telephone, please dial 888-800-3155 with the conference ID number 8089430 approximately 10 minutes prior to the call. The call will also be available via webcast at investor.sphereentertainmentco.com under the heading "Events." For those who are unable to participate on the conference call, you may access a recording of the call by dialing 800-770-2030 (conference ID number 8089430). The call replay will be available from 1:00 p.m. Eastern Time on Tuesday, May 5, 2026, until 11:59 p.m. Eastern Time on Tuesday, May 12, 2026. The webcast replay will be available on the website until Tuesday, May 12, 2026. About Sphere Entertainment Co. Sphere Entertainment Co. is a leader in immersive experiences, technology and media. The Company includes Sphere, an experiential medium powered by advanced technologies. The first Sphere opened in Las Vegas, with plans also announced for Sphere venues in Abu Dhabi and National Harbor. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a direct-to-consumer and authenticated streaming product, MSG+, delivering a wide range of live sports content and other programming. More information is available at www.sphereentertainmentco.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260501875050/en/ Contacts Ari Danes, CFA Investor Relations (212) 465-6072 Grace Kaminer Investor Relations (212) 631-5076

The past six months have been a windfall for Sphere Entertainment’s shareholders. The company’s stock price has jumped 82.8%, hitting $116.50 per share. This was partly due to its solid quarterly results, and the performance may have investors wondering how to approach the situation. Is there a buying opportunity in Sphere Entertainment, or does it present a risk to your portfolio? Get the full breakdown from our expert analysts, it’s free. We’re glad investors have benefited from the price increase, but we don't have much confidence in Sphere Entertainment. Here are three reasons you should be careful with SPHR and a stock we'd rather own. A company’s long-term sales performance is one signal of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Over the last five years, Sphere Entertainment grew its sales at a 18.1% compounded annual growth rate. Although this growth is acceptable on an absolute basis, it fell slightly short of our standards for the consumer discretionary sector, which enjoys a number of secular tailwinds. Free cash flow isn't a prominently featured metric in company financials and earnings releases, but we think it's telling because it accounts for all operating and capital expenses, making it tough to manipulate. Cash is king. Sphere Entertainment has shown poor cash profitability relative to peers over the last two years, giving the company fewer opportunities to return capital to shareholders. Its free cash flow margin averaged 7.5%, below what we’d expect for a consumer discretionary business. As long-term investors, the risk we care about most is the permanent loss of capital, which can happen when a company goes bankrupt or raises money from a disadvantaged position. This is separate from short-term stock price volatility, something we are much less bothered by. Sphere Entertainment posted negative $431.5 million of EBITDA over the last 12 months, and its $961.5 million of debt exceeds the $507.8 million of cash on its balance sheet. This is a deal breaker for us because indebted loss-making companies spell trouble. We implore our readers to tread carefully because credit agencies could downgrade Sphere Entertainment if its unprofitable ways continue, making incremental borrowing more expensive and restricting growth prospects. The company could also be backed into a corner if the mark...

Looking back on consumer discretionary - leisure facilities stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Sphere Entertainment (NYSE:SPHR) and its peers. The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Leisure facilities companies own and operate theme parks, fitness centers, bowling alleys, and other venue-based entertainment destinations, generating revenue from admissions, memberships, and on-site spending. Tailwinds include consumer preference for experiential spending, tourism recovery, and technology-enhanced guest experiences that support premium pricing. Headwinds are notable: high fixed costs, such as real estate, labor, and maintenance, make profitability highly sensitive to attendance fluctuations during economic slowdowns. Weather, pandemics, and safety incidents can disrupt operations unpredictably. Rising construction and labor costs inflate expansion budgets, while competition from at-home entertainment alternatives and other experiential options limits pricing power in many markets. The 10 consumer discretionary - leisure facilities stocks we track reported a slower Q4. As a group, revenues missed analysts’ consensus estimates by 3.5% while next quarter’s revenue guidance was in line. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.7% since the latest earnings results. Famous for its viral Las Vegas Sphere venue, Sphere Entertainment (NYSE:SPHR) hosts live entertainment events and distributes content across various media platforms. Sphere Entertainment reported revenues of $394.3 million, up 27.9% year on year. This print exceeded analysts’ expectations by 4.4%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates. Sphere Entertainment scor...

Sphere Entertainment Co. (NYSE:SPHR) just reported some strong earnings, and the market reacted accordingly with a healthy uplift in the share price. We did some analysis and think that investors are missing some details hidden beneath the profit numbers. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. For anyone who wants to understand Sphere Entertainment's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from US$269m worth of unusual items. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. Which is hardly surprising, given the name. Sphere Entertainment had a rather significant contribution from unusual items relative to its profit to December 2025. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. As we discussed above, we think the significant positive unusual item makes Sphere Entertainment's earnings a poor guide to its underlying profitability. For this reason, we think that Sphere Entertainment's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. The good news is that it earned a profit in the last twelve months, despite its previous loss. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. For example, Sphere Entertainment has 2 warning signs (and 1 which is significant) we think you should know about. Today we've zoomed in on a single data point to better understand the nature of Sphere Entertainment's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good si...

The Wizard of Oz has been a major commercial success, selling more than 2.2 million tickets and generating about $290 million in ticket sales, helping the Sphere segment deliver revenues of $274.2 million (up >60%) and adjusted operating income of $89.4 million. Sphere is accelerating expansion, announcing a 6,000‑seat venue at National Harbor backed by roughly $200 million in state/local/private incentives with a potential opening in four years or less, while Abu Dhabi is in final pre‑construction and the company expects to pursue about 5–6 projects concurrently. The company highlighted disciplined costs and a solid liquidity position: Sphere had approximately $56 million net debt alongside about $477 million of unrestricted cash as of Dec. 31, refinanced its Las Vegas credit facility to Jan. 2031, and added an undrawn $275 million revolver while cutting SG&A by $14.9 million year over year. Interested in Sphere Entertainment Co.? Here are five stocks we like better. The 5 Hottest CEO Stock Purchases So Far This Year Sphere Entertainment (NYSE:SPHR) executives used the company’s fiscal 2025 fourth-quarter and year-end earnings call to highlight strong momentum at its Las Vegas venue, outline expansion plans for new Sphere locations, and discuss cost discipline and balance sheet positioning across the business. Executive Chairman and CEO Jim Dolan said the quarter’s results provided “continued validation of the business model behind Sphere,” pointing to Las Vegas performance and the company’s ability to pair proprietary technology with immersive content. → No Rally? Coca-Cola’s Results Still Look Like a Sweet Deal Dolan emphasized the success of The Wizard of Oz, calling it a “critical and commercial success” and stating the production has sold more than 2.2 million tickets and generated approximately $290 million in ticket sales. He added the company plans to release The Wizard of Oz 2.0 later this year, describing it as an enhanced version with “new scenes and new 4D effects.” During Q&A, Sphere executive Jen Koester said the company has seen “Las Vegas headwinds,” but described Sphere as resilient with strong growth despite those pressures. She said management has been “aggressively” scheduling days with multiple shows (“side by sides”) to increase revenue per day, using demand forecasting based on visitor rates. Koester also said the company expects a st...

This article first appeared on GuruFocus. Total Company Revenue: $394.3 million for the December quarter. Adjusted Operating Income: $128 million for the December quarter. Sphere Segment Revenue: $274.2 million, an increase of over 60% compared to the prior year period. Sphere Segment Adjusted Operating Income: $89.4 million, compared to an adjusted operating loss of approximately $800,000 in the prior year quarter. SG&A Expenses: $104.1 million, a decrease of $14.9 million year-over-year. MSG Networks Revenue: $120.1 million for the December quarter. MSG Networks Adjusted Operating Income: $38.6 million for the December quarter. Net Debt for Sphere Business: Approximately $56 million as of December 31. Unrestricted Cash and Cash Equivalents: Approximately $477 million as of December 31. Convertible Debt: $259 million as of December 31. Term Loan Related to Sphere in Las Vegas: $275 million. Net Debt for MSG Networks: Approximately $128 million as of December 31. Warning! GuruFocus has detected 5 Warning Signs with SPHR. Is SPHR fairly valued? Test your thesis with our free DCF calculator. Release Date: February 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sphere Entertainment Co (NYSE:SPHR) reported a significant increase in revenues for the Sphere segment, with a 60% growth compared to the prior year period. The Wizard of Oz at Sphere has been a critical and commercial success, selling over 2.2 million tickets and generating approximately $290 million in ticket sales. The company announced plans to expand with a new Sphere venue at National Harbor in Maryland, supported by $200 million in state, local, and private incentives. Sphere Entertainment Co (NYSE:SPHR) is actively investing in immersive technology and experiential content, with plans to release an enhanced version of the Wizard of Oz and a new theater experience from The Edge. The company has successfully refinanced its credit facility related to Sphere in Las Vegas, extending the maturity and improving the borrowing rate. The MSG Networks segment experienced a 14.5% decrease in subscribers and lower affiliate rates, impacting revenues and adjusted operating income. Sphere Entertainment Co (NYSE:SPHR) faces higher direct operating expenses due to increased costs associated with the Sphere experience and a higher number of performance...

Management attributes the 60% revenue growth in the Sphere segment primarily to the commercial success of 'The Wizard of Oz', which drove higher per-show revenue and increased performance frequency. The company is shifting toward a global network model, utilizing the Las Vegas venue as a blueprint for expansion into domestic and international markets. Strategic positioning is focused on a 'capital-light' expansion strategy, exemplified by the newly announced 6,000-seat venue in National Harbor, Maryland, which leverages public and private incentives. Operational efficiency is being prioritized through cost-saving initiatives that reduced SG&A expenses, despite executive transition costs and mark-to-market adjustments on share-based awards. Management is maximizing venue utilization by running immersive 'Sphere Experiences' in tandem with concert residencies, targeting customers for multiple visits per weekend. The Exosphere is being utilized as a high-margin advertising platform, with growth driven by major brand partnerships and the debut of interactive gaming experiences. The company expects the National Harbor venue to open within 4 years or less, supported by approximately $200 million in state, local, and private incentives. Management anticipates sharing site location details for the Abu Dhabi project in the near future as it reaches the final stages of preconstruction. The content pipeline includes the release of 'The Wizard of Oz 2.0' with enhanced 4D effects and a new theater experience from 'The Edge' slated for late 2025 or early 2026. The residency pipeline is described as nearly fully booked through 2026, with management focusing on long-weekend slots to align with Las Vegas tourism patterns. Management believes the organization is structured to handle 5 or 6 expansion projects simultaneously, provided they are separately financed and meet profitability criteria. The company refinanced its Las Vegas credit facility in January, extending the maturity to 2031 and adding a $275 million undrawn revolver for corporate purposes. MSG Networks experienced a 14.5% decrease in subscribers and lower affiliate rates, impacting segment revenue and AOI. The National Harbor project is expected to cost approximately $1 billion, though management is exploring new construction methods to potentially lower this figure. SG&A results included $4.6 million in executi...