MSGE Q3 revenue up 2%, operating income down 41% on higher SG&A and restructuring charges

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~1 min read

Key Changes

• high

  Q3 FY2026 operating income fell 41% to $16.1M despite 2% revenue growth, driven by 17% jump in SG&A expenses and $8.6M in restructuring charges from a voluntary exit program.

  MD&A: Operating Results verify on EDGAR →
• high

  Company refinanced National Properties credit facilities in June 2025, extending maturity to 2030 (from 2027), reducing interest rate to 5.67% (from 6.92%), and lowering applicable margins by 75-100 basis points.

  MD&A: Debt Refinancing verify on EDGAR →
• high

  Cash and equivalents surged to $323M (from $89M prior year) as operating cash flow more than doubled to $368M for nine months, reflecting improved working capital management.

  MD&A: Liquidity verify on EDGAR →