Mon, May 12, 3:14 PM (42 days ago)
**Atlanta Braves Holdings, Inc. (BATRA) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Total revenue increased by 27.3% to $47.2 million (from $37.1 million in Q1 2024). Baseball revenue grew by 29.8% to $28.6 million, while Mixed-Use Development revenue increased by 23.0% to $18.6 million. - **Profit Margins:** The company reported a net loss of $41.4 million, an improvement from the $51.3 million loss in Q1 2024. Operating loss decreased by $7.9 million to $44.5 million. - **Cash Flow:** Net cash provided by operating activities was $95.8 million, up from $91.1 million in Q1 2024. Capital expenditures were $19.5 million, down from $27.6 million in the prior year. - **Earnings Changes:** Basic and diluted net loss per share improved to $0.66 from $0.83 in Q1 2024. **Segment Performance:** - **Baseball:** Revenue increased due to higher broadcasting and other revenue, partially offset by flat event revenue. Operating costs rose by $3.6 million, mainly due to player salaries and event-related expenses. - **Mixed-Use Development:** Revenue increased by $3.5 million, driven by rental income and sponsorships. Operating costs remained flat. **Trends and Uncertainties:** - **Seasonality:** Most revenue is seasonal, with the second and third quarters being the strongest due to the baseball season. - **Debt:** The company has significant debt, with a mix of fixed and variable rate instruments. Interest rates and debt covenants are closely monitored. - **Future Operations:** The company plans to fund future cash needs through operations, cash on hand, and borrowings. They expect to comply with debt covenants and maintain liquidity. **Notable Events:** - **Corporate Governance Transition:** In August 2024, there was a change in control, leading to a transition in management and operational responsibilities. - **Subsequent Events:** In April 2025, the company acquired real estate for $93.0 million and entered into a new interest rate swap agreement. **Future Outlook:** - The company faces risks related to economic conditions, regulatory environment, labor relations, and market competition. They aim to manage these risks through strategic planning and financial management.