$MSGE earnings before the bellThe last two earnings reports were disappointments on earnings but surprises on revenue. On earnings from when they report before the bell, the stock usually moves +/-14.5% from the opening bell to the next day based on the most recent earnings reports which I think are the most relevant.
Live concerts and events are back. People are eager to spend so merchandise and food and beverage revenue should be a surprise on the upside. Anecdotally, I have heard that live shows are selling out almost immediately and that most performers are back on the road; signifying the overall entertainment industry is coming back.
I think they will surprise on revenue and earnings. I realize Omicron slowed the global economy down, but MSGE mainly operates in the US which was not as deeply affected by Omicron in comparison to some of the places with zero-tolerance or stricter rules. People were still going out. Sporting events and concerts were packed.
Earnings Estimate: $1.18 EPS
Revenue Estimate: $538.975 million
MSGE/PEJ (a proxy for the entertainment industry) shows that weekly the underperformance seems to be reversing trend and MSGE is beginning to outperform
Rounding bottom in MSGE/PEJ
MACD cross/curl
