Company did not provide specific guidance for future quarters or the full year
Overview
US baseball franchise's Q2 revenue fell 2% yr/yr, driven by fewer home games
Adjusted OIBDA for Q2 declined 82% yr/yr amid higher operating and administrative costs
Company posted Q2 operating loss, citing higher player salaries and BravesVision costs
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the leisure & recreation peer group is "buy"
Wall Street's median 12-month price target for Atlanta Braves Holdings, Inc. is $67.00, about 22.3% above its August 4 closing price of $54.80
The stock recently traded at 3,027 times the next 12-month earnings vs. a P/E of 259 three months ago
Result drivers and key details
FEWER HOME GAMES - Co said baseball revenue declined due to six fewer regular season home games in Q2
MEDIA REVENUE DROP - Media-related revenue fell due to timing of revenue recognition and changes in national media rights arrangements
HIGHER OPERATING COSTS - Baseball operating costs rose due to increased player salaries, BravesVision production expenses, special events, and MLB revenue sharing
