Atlanta Braves Holdings (BATRK) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 4% YoY to $324.6M, while operating income fell to $8.7M from $38.9M and Adjusted OIBDA declined to $40.6M from $67.2M.

• 9M revenue increased 5% to $701.8M, but results shifted to an operating loss of $51.1M and net loss of $42.7M; Adjusted OIBDA fell to $34.8M from $104.3M.

• Higher player salaries and operating expenses weighed on profitability; postseason play and higher attendance supported event revenue.

Financial highlights

• Q3 net earnings were $9.8M vs. $30.1M; diluted EPS was $0.15 vs. $0.47.

• 9M net loss was $42.7M vs. net earnings of $18.2M; diluted loss per share was $0.67 vs. EPS of $0.28.

• Q3 revenue increased $13.1M YoY, comprising $11.2M growth in baseball revenue and $1.9M in Mixed-Use Development revenue.

• Q3 baseball operating costs increased $34.4M and SG&A excluding stock compensation rose $4.9M YoY.

Segment performance

• Q3 Baseball revenue rose to $295.5M from $284.4M; event revenue increased 7% and retail/licensing 25%, while media-related revenue fell 4%.

• Baseball Q3 Adjusted OIBDA fell to $25.5M from $50.0M, mainly due to higher player salaries; 9M revenue rose to $617.7M while Adjusted OIBDA was a $12.5M loss vs. $62.5M income.

• Mixed-Use Development Q3 revenue rose to $29.1M from $27.2M, while Adjusted OIBDA declined to $17.6M from $19.8M; 9M revenue rose to $84.0M from $70.9M and Adjusted OIBDA to $55.8M from $50.2M.

• Baseball event growth reflected ticket rate increases, higher attendance, favorable single-game sales and two postseason home games; City Connect apparel and postseason demand lifted retail/licensing.

• Mixed-Use Development revenue benefited from higher tenant recoveries and new leases; 9M rental revenue also benefited from in-place leases acquired in 2025.