US Market News
2月前
YAS ISLAND TO BE HOME OF SPHERE ABU DHABI, A NEW GLOBAL ICON FOR IMMERSIVE ENTERTAINMENTMay 14, 2026 11:02 AM
PR Newswire (US) The Department of Culture and Tourism – Abu Dhabi will invest USD 1.7 billion in the construction phase of this landmark project on Yas IslandConstruction expected to be completed by the end of 2029With a capacity of up to 20,000, Sphere Abu Dhabi will host immersive experiences, concert residencies, sporting spectacles and brand eventsExosphere to celebrate Emirati culture through large-scale art and visual storytellingABU DHABI, UAE, May 14, 2026 /PRNewswire/ -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Sphere Entertainment Co. (NYSE: SPHR) today announced that Yas Island has been selected as the location for Sphere Abu Dhabi, a landmark project with a construction phase cost of USD 1.7 billion. Poised to become a global icon, the venue will attract tourists from around the world, boost economic diversification, and strengthen Abu Dhabi's sense of place for residents and visitors alike. Sphere Abu Dhabi, which will be the first Sphere venue outside the United States, will be built on a plot of land between Yas Mall and SeaWorld Abu Dhabi, with lush green surroundings and proximity to other Yas Island theme parks and attractions. Construction on the venue is expected to be completed by the end of 2029.HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: "Abu Dhabi has always built for the long term, and Sphere Abu Dhabi is a powerful demonstration of that commitment. In a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction. This project reflects the strength of Abu Dhabi's international partnerships, built on shared ambition and mutual confidence in what this emirate represents as a global destination. Together, we are creating a venue that will draw our community, visitors, creators and investors to Yas Island and Abu Dhabi for decades to come. And at its heart, Sphere Abu Dhabi will be a platform for Emirati culture, Emirati talent and Emirati storytelling, shared with the world on the grandest stage ever built."James L. Dolan, Executive Chairman and Chief Executive Officer of Sphere Entertainment, said: "Sphere Abu Dhabi is the first step in realising our vision for a global network of venues. Abu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere. Sphere Abu Dhabi will establish Yas Island as a destination in the region for immersive experiences, and we look forward to working with DCT Abu Dhabi to see this venue come to life."Sphere Abu Dhabi will host three main categories of events, all powered by Sphere's advanced experiential technologies: Sphere Experiences, proprietary immersive productions that feature multi-sensory storytelling; concert residencies; and marquee and brand events supported by flexible configurations to host everything from combat sports to conferences to product launches.The entertainment offerings at Sphere Abu Dhabi will reflect Abu Dhabi's status as a cultural crossroads. While still in development, plans include featuring fully immersive experiences that are the signature of Sphere in Las Vegas, in addition to the creation of Sphere Experiences that convey Emirati culture and heritage, and displaying Emirati artists' work on the Exosphere, the spherical LED screen that forms the venue's exterior. Concerts will feature local and other Arabic artists, as well as global stars.Located a short drive from Zayed International Airport, Sphere Abu Dhabi will be a welcoming gateway to the emirate's culture and entertainment offerings. With its proximity to Yas Island's other hospitality and entertainment infrastructure, Sphere Abu Dhabi will reinforce Yas Island as a global events destination, not only for events at Sphere, but also by providing an exceptional backdrop, broadcast worldwide during the annual Formula 1 Etihad Airways Abu Dhabi Grand Prix.The world's first Sphere venue opened in Las Vegas in September 2023. Like the venue in Las Vegas, Sphere Abu Dhabi will be an experiential medium powered by advanced technologies that will transform the traditional venue model. The venue will also echo the scale of Sphere in Las Vegas, with a capacity of up to 20,000, depending on the configuration for a given event. Once open, Sphere Abu Dhabi's ongoing operations will create thousands of jobs locally.Another milestone in Abu Dhabi's integrated destination development, Sphere Abu Dhabi will function as a global tourism magnet alongside other globally renowned projects such as Saadiyat Cultural District and the upcoming Disney theme park resort on Yas Island.DCT Abu Dhabi will work with entities including the Department of Municipalities and Transport and its Integrated Transport Centre, the Department of Energy, Taqa, Etihad Rail and Aldar to ensure all components of the master plan including road enhancements, site access and site-wide infrastructure are coordinated with surrounding assets on Yas Island.About the Department of Culture and Tourism – Abu Dhabi:The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi's culture and tourism sectors, fuels economic progress and helps achieve Abu Dhabi's wider global ambitions. By working in partnership with the organisations that define the emirate's position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate's potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture, creative and tourism industries.DCT Abu Dhabi's vision is defined by the emirate's people, heritage and landscape. We work to enhance Abu Dhabi's status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dctabudhabi.ae and visitabudhabi.aeAbout Sphere Entertainment Co:
Sphere Entertainment Co. is a leader in immersive experiences, technology and media. The Company includes Sphere, an experiential medium powered by advanced technologies. The first Sphere opened in Las Vegas, with plans also announced for Sphere venues in Abu Dhabi and National Harbor. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a direct-to-consumer and authenticated streaming product, MSG+, delivering a wide range of live sports content and other programming. More information is available at?sphereentertainmentco.com.Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the expected completion of construction for Sphere Abu Dhabi. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including, without limitation, unexpected costs, liabilities or delays in connection with the development and construction of Sphere Abu Dhabi and the factors described in Sphere Entertainment's filings with the United States Securities and Exchange Commission, including the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. Sphere Entertainment disclaims any obligation to update any forward-looking statements contained herein.Photo - https://mma.prnewswire.com/media/2980383/DCT_Abu_Dhabi_Photo_1.jpg
Photo - https://mma.prnewswire.com/media/2980355/DCT_Abu_Dhabi_Photo_2.jpg
Video - https://mma.prnewswire.com/media/2980336/DCT_Abu_Dhabi_Video.mp4 View original content:https://www.prnewswire.co.uk/news-releases/yas-island-to-be-home-of-sphere-abu-dhabi-a-new-global-icon-for-immersive-entertainment-302772536.html Original: YAS ISLAND TO BE HOME OF SPHERE ABU DHABI, A NEW GLOBAL ICON FOR IMMERSIVE ENTERTAINMENT
US Market News
2月前
Sphere Entertainment Co. Reports First Quarter 2026 ResultsMay 5, 2026 7:30 AM
Business Wire Sphere Entertainment Co. (NYSE: SPHR) (“Sphere Entertainment” or the “Company”) today reported financial results for the first quarter ended March 31, 2026. Recent highlights for the Company’s Sphere segment include: Plans to bring Sphere to Abu Dhabi and National Harbor continue to move forward, while the Company also remains in discussions with a significant number of markets globally regarding additional large and smaller-scale Sphere venues; The Wizard of Oz at Sphere, the Sphere Experience that opened in Las Vegas on August 28, 2025, surpassed its 500th showing in March; Metallica announced a new concert residency at Sphere, with 24 concerts planned beginning in October 2026, while Backstreet Boys announced they will return this summer, extending their residency run to 56 nights total; The Company continues to draw robust interest from Exosphere advertisers and sponsors, including the announcement in April of a new multi-year sponsorship agreement with Evian. For the three months ended March 31, 2026, the Company reported revenues of $386.4 million, an increase of $105.8 million, or 38%, as compared to the prior year quarter. In addition, the Company reported operating income of $7.2 million, an increase of $85.8 million, and adjusted operating income of $110.0 million, an increase of $74.0 million, both as compared to the prior year quarter.(1) Executive Chairman and CEO James L. Dolan said, “Today’s results demonstrate our continued success proving out Sphere’s business model. Looking ahead, we remain focused on maximizing that model’s full potential in Las Vegas, while executing on our long-term vision for a global network of Sphere venues.” Segment Results for the Three Months Ended March 31, 2026 and 2025: (In millions) Three Months Ended March 31, Change 2026 2025 $ % Revenues: Sphere $ 266.0 $ 157.5 $ 108.4 69 % MSG Networks 120.4 123.0 (2.6 ) (2 )% Total Revenues $ 386.4 $ 280.6 $ 105.8 38 % Operating Income (Loss): Sphere $ (24.9 ) $ (93.8 ) $ 68.9 73 % MSG Networks 32.1 15.2 16.9 112 % Total Operating Income (Loss) $ 7.2 $ (78.6 ) $ 85.8 NM Adjusted Operating Income:(1) Sphere $ 74.3 $ 13.1 $ 61.1 NM MSG Networks 35.7 22.8 12.9 56 % Total Adjusted Operating Income $ 110.0 $ 36.0 $ 74.0 NM Note: Does not foot due to rounding. NM — Absolute percentages greater than 200% and comparisons from positive to negative values or to zero values are considered not meaningful. (1) See page 3 of this earnings release for the definition of adjusted operating income (loss) included in the discussion of non-GAAP financial measures. Sphere For the first quarter 2026, the Sphere segment reported revenues of $266.0 million, an increase of $108.4 million, or 69%, as compared to the prior year quarter. Revenues related to The Sphere Experience increased $81.7 million as compared to the prior year quarter, which primarily reflected higher per-show revenue for The Wizard of Oz at Sphere. In the current year quarter, The Sphere Experience reflected 209 performances of The Wizard of Oz at Sphere as compared to 200 performances of Postcard from Earth and V-U2 An Immersive Concert Film in the prior year quarter. Event-related revenues increased $24.4 million as compared to the prior year quarter, primarily due to (i) higher revenues from brand events, due to one additional brand event held in the current year quarter and higher per-event revenue, and (ii) higher revenues from concerts, primarily due to six additional concert residency shows held at Sphere in Las Vegas during the current year period. Revenues from sponsorship, Exosphere advertising and suite license fees increased $1.6 million as compared to the prior year quarter, primarily reflecting an increase in sponsorship revenues and higher suite license fee revenues. Other revenues increased $0.7 million as compared to the prior year quarter. For the first quarter 2026, the Sphere segment had direct operating expenses of $99.2 million, an increase of $28.7 million, or 41%, as compared to the prior year quarter. Expenses associated with The Sphere Experience increased $18.1 million as compared to the prior year quarter, primarily due to higher per-show expenses for The Wizard of Oz at Sphere. Event-related expenses increased $10.8 million as compared to the prior year quarter, primarily due to (i) higher expenses from brand events, due to higher per-event expenses and an increase in the number of brand events held in the current year quarter, and (ii) higher expenses from concerts, due to an increase in the number of concert residency shows held at Sphere in Las Vegas, partially offset by lower per-concert expenses. For the first quarter 2026, selling, general and administrative expenses of $106.6 million increased $10.2 million, or 11%, as compared to the prior year quarter, primarily due to the impact of mark-to-market adjustments on certain share-based compensation awards as a result of the appreciation in the Company’s stock price during the current year quarter. For the first quarter 2026, operating loss of $24.9 million improved by $68.9 million, or 73%, and adjusted operating income of $74.3 million increased $61.1 million, both as compared to the prior year quarter, primarily due to the increase in revenues, partially offset by higher direct operating expenses and higher selling, general and administrative expenses. MSG Networks For the first quarter 2026, the MSG Networks segment reported total revenues of $120.4 million, a decrease of $2.6 million, or 2%, as compared to the prior year quarter. Advertising revenue decreased $4.9 million as compared to the prior year quarter, primarily due to a lower number of live regular season professional sports telecasts. This decrease was partially offset by an increase in distribution revenue of $1.8 million, primarily reflecting the absence of revenues from Altice during MSG Networks’ non-carriage period from January 1, 2025 through February 21, 2025 in the prior year quarter, partially offset by a decrease in total subscribers of approximately 16.0% (excluding the impact of the Altice non-carriage period in the prior year quarter). For the first quarter 2026, direct operating expenses of $70.4 million decreased $17.4 million, or 20%, as compared to the prior year quarter. Rights fees expense decreased $16.5 million as compared to the prior year quarter, primarily reflecting reductions in media rights fees as a result of the amendments to MSG Networks’ media rights agreements with certain professional sports teams. For the first quarter 2026, selling, general and administrative expenses of $15.1 million decreased $2.8 million, or 15%, as compared to the prior year quarter. This decrease was primarily due to (i) lower professional fees of $3.6 million, mainly due to the absence of costs associated with pursuing a work-out of MSG Networks’ credit facilities recorded in the prior year quarter, and (ii) lower employee compensation and related benefits of $2.3 million, partially offset by (iii) higher advertising and marketing costs of $3.0 million. For the first quarter 2026, operating income of $32.1 million increased $16.9 million as compared to the prior year quarter, primarily due to lower direct operating expenses and, to a lesser extent, lower selling, general and administrative expenses (including merger, debt work-out and acquisition related costs), partially offset by the decrease in revenues. Adjusted operating income of $35.7 million increased $12.9 million, or 56%, as compared to the prior year quarter, primarily due to lower direct operating expenses, partially offset by the decrease in revenues and higher selling, general and administrative expenses (excluding merger, debt work-out and acquisition related costs). About Sphere Entertainment Co. Sphere Entertainment Co. is a leader in immersive experiences, technology and media. The Company includes Sphere, an experiential medium powered by advanced technologies. The first Sphere opened in Las Vegas, with plans also announced for Sphere venues in Abu Dhabi and National Harbor. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a direct-to-consumer and authenticated streaming product, MSG+, delivering a wide range of live sports content and other programming. More information is available at www.sphereentertainmentco.com. Non-GAAP Financial Measures We define adjusted operating income (loss), which is a non-GAAP financial measure, as operating income (loss) before (i) depreciation, amortization and impairments of property and equipment, goodwill and intangible assets, (ii) amortization for capitalized cloud computing arrangement costs, (iii) share-based compensation expense, (iv) restructuring charges or credits, (v) merger, debt work-out and acquisition-related costs, including merger-related litigation expenses, net of insurance recoveries, (vi) gains or losses on sales or dispositions of businesses and associated settlements, (vii) the impact of purchase accounting adjustments related to business acquisitions, and (viii) gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan. We believe that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of our business without regard to the settlement of an obligation that is not expected to be made in cash. We eliminate merger, debt work-out and acquisition-related costs, including merger related litigation expenses, net of insurance recoveries, when applicable, because the Company does not consider such costs to be indicative of the ongoing operating performance of the Company as they result from an event that is of a non-recurring nature, thereby enhancing comparability. In addition, management believes that the exclusion of gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan, provides investors with a clearer picture of the Company’s operating performance given that, in accordance with U.S. generally accepted accounting principles (“GAAP”), gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan are recognized in operating income (loss) whereas gains and losses related to the remeasurement of the assets under the Company’s Executive Deferred Compensation Plan, which are equal to and therefore fully offset the gains and losses related to the remeasurement of liabilities, are recognized in other income (expense), net, which is not reflected in operating income (loss). We believe adjusted operating income (loss) is an appropriate measure for evaluating the operating performance of our business segments and the Company on a consolidated basis. Adjusted operating income (loss) and similar measures with similar titles are common performance measures used by investors and analysts to analyze our performance. Internally, we use revenues and adjusted operating income (loss) as the most important indicators of our business performance, and evaluate management’s effectiveness with specific reference to these indicators. Adjusted operating income (loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), cash flows from operating activities, and other measures of performance and/or liquidity presented in accordance with GAAP. Since adjusted operating income (loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of operating income (loss) to adjusted operating income (loss), please see page 5 of this release. Forward-Looking Statements This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein. Conference Call Information:
The conference call will be Webcast live today at 10:00 a.m. ET at investor.sphereentertainmentco.com
Conference call dial-in number is 888-800-3155 / Conference ID Number 8089430
Conference call replay number is 800-770-2030 / Conference ID Number 8089430 until May 12, 2026 SPHERE ENTERTAINMENT CO. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended March 31, 2026 2025 Revenues $ 386,412 $ 280,574 Operating expenses: Direct operating expenses 169,647 158,323 Selling, general, and administrative expenses 121,703 114,269 Depreciation and amortization 84,367 84,229 Impairment and other losses, net 79 521 Restructuring charges 3,414 1,841 Operating income (loss) 7,202 (78,609 ) Other income (expense): Loss on extinguishment of debt (2,071 ) — Interest income 3,951 3,878 Interest expense (8,039 ) (26,206 ) Other expense, net (1,424 ) (1,340 ) Loss from continuing operations before income taxes (381 ) (102,277 ) Income tax benefit 4,841 20,323 Net income (loss) $ 4,460 $ (81,954 ) Less: Net income attributable to participating securities 6,053 — Net loss attributable to Sphere Entertainment Co.’s stockholders $ (1,593 ) $ (81,954 ) Basic loss per common share attributable to Sphere Entertainment Co.’s stockholders $ (0.04 ) $ (2.27 ) Diluted loss per common share attributable to Sphere Entertainment Co.’s stockholders $ (0.04 ) $ (2.27 ) Weighted-average number of common shares outstanding: Basic 35,878 36,110 Diluted 35,878 36,110 SPHERE ENTERTAINMENT CO.
ADJUSTMENTS TO RECONCILE OPERATING INCOME (LOSS) TO
ADJUSTED OPERATING INCOME (LOSS)
(In thousands)
(Unaudited) The following is a description of the adjustments to operating income (loss) in arriving at adjusted operating income as described in this earnings release: Share-based compensation. This adjustment eliminates the compensation expense relating to restricted stock units, performance stock units and stock options granted under the Sphere Entertainment Employee Stock Plan, MSG Sports Employee Stock Plan, MSG Networks Employee Stock Plan, as amended and assumed by Sphere Entertainment, and Sphere Entertainment Non-Employee Director Plan. Depreciation and amortization. This adjustment eliminates depreciation and amortization of property and equipment and intangible assets. Restructuring charges. This adjustment eliminates costs related to termination benefits provided to certain executives and employees. Impairment and other losses (gains), net. This adjustment eliminates non-cash impairment charges and the impact of gains or losses from the disposition of assets or businesses. Merger, debt work-out, and acquisition-related costs, including merger-related litigation expenses, net of insurance recoveries. This adjustment eliminates costs related to mergers, debt work-outs and acquisitions, including litigation expenses. Amortization for capitalized cloud computing arrangement costs. This adjustment eliminates amortization of capitalized cloud computing arrangement costs. Remeasurement of deferred compensation plan liabilities. This adjustment eliminates the impact of gains and losses related to the remeasurement of liabilities under the Company's executive deferred compensation plan. Three Months Ended March 31, 2026 2025 Operating income (loss) $ 7,202 $ (78,609 ) Share-based compensation 13,910 21,595 Depreciation and amortization 84,367 84,229 Restructuring charges 3,414 1,841 Impairment and other losses, net 79 521 Merger, debt work-out, and acquisition related costs, net of insurance recoveries 87 4,791 Amortization for capitalized cloud computing arrangement costs 917 1,579 Remeasurement of deferred compensation plan liabilities — 21 Adjusted operating income $ 109,976 $ 35,968 SPHERE ENTERTAINMENT CO. SEGMENT RESULTS (In thousands) (Unaudited) BUSINESS SEGMENT RESULTS Three Months Ended March 31, 2026 Sphere MSG Networks Total Revenues $ 265,965 $ 120,447 $ 386,412 Operating expenses: Direct operating expenses 99,226 70,421 169,647 Selling, general and administrative expenses 106,596 15,107 121,703 Depreciation and amortization 82,274 2,093 84,367 Impairment and other losses, net 79 — 79 Restructuring charges 2,673 741 3,414 Operating (loss) income $ (24,883 ) $ 32,085 $ 7,202 Reconciliation to adjusted operating income: Share-based compensation 13,143 767 13,910 Depreciation and amortization 82,274 2,093 84,367 Restructuring charges 2,673 741 3,414 Impairment and other losses, net 79 — 79 Merger, debt work-out, and acquisition related costs, net of insurance recoveries 87 — 87 Amortization for capitalized cloud computing arrangement costs 917 — 917 Adjusted operating income $ 74,290 $ 35,686 $ 109,976 Three Months Ended March 31, 2025 Sphere MSG Networks Total Revenues $ 157,545 $ 123,029 $ 280,574 Operating expenses: Direct operating expenses 70,536 87,787 158,323 Selling, general and administrative expenses 96,404 17,865 114,269 Depreciation and amortization 82,005 2,224 84,229 Impairment and other losses, net 521 — 521 Restructuring charges 1,841 — 1,841 Operating (loss) income $ (93,762 ) $ 15,153 $ (78,609 ) Reconciliation to adjusted operating income: Share-based compensation 19,954 1,641 21,595 Depreciation and amortization 82,005 2,224 84,229 Restructuring charges 1,841 — 1,841 Impairment and other losses, net 521 — 521 Merger, debt work-out, and acquisition related costs, net of insurance recoveries 988 3,803 4,791 Amortization for capitalized cloud computing arrangement costs 1,579 — 1,579 Remeasurement of deferred compensation plan liabilities 21 — 21 Adjusted operating income $ 13,147 $ 22,821 $ 35,968 SPHERE ENTERTAINMENT CO. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) As of March 31, December 31, 2026 2025 ASSETS Current Assets: Cash, cash equivalents, and restricted cash $ 630,151 $ 521,264 Accounts receivable, net 181,549 171,630 Related party receivables, current 20,215 24,457 Prepaid expenses and other current assets 71,655 92,824 Total current assets 903,570 810,175 Non-Current Assets: Investments 37,650 38,725 Property and equipment, net 2,629,439 2,710,643 Right-of-use lease assets 88,851 91,372 Goodwill 344,772 344,772 Intangible assets, net 20,161 21,817 Other non-current assets 198,243 192,404 Total assets $ 4,222,686 $ 4,209,908 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 36,484 $ 24,593 Accrued expenses and other current liabilities 427,060 431,477 Related party payables, current 11,404 14,301 Current portion of long-term debt, net 57,690 63,009 Operating lease liabilities, current 16,515 17,186 Deferred revenue 193,510 192,808 Total current liabilities 742,663 743,374 Non-Current Liabilities: Long-term debt, net 752,700 767,439 Operating lease liabilities, non-current 111,463 113,824 Deferred tax liabilities, net 166,661 172,111 Other non-current liabilities 201,272 179,921 Total liabilities 1,974,759 1,976,669 Commitments and contingencies Equity: Class A Common Stock (a) 299 297 Class B Common Stock (b) 69 69 Additional paid-in capital 2,480,705 2,470,120 Treasury stock, at cost, 1,054 shares as of March 31, 2026 and December 31, 2025, respectively (50,024 ) (50,024 ) Accumulated deficit (181,981 ) (186,441 ) Accumulated other comprehensive loss (1,141 ) (782 ) Total stockholders’ equity 2,247,927 2,233,239 Total liabilities and equity $ 4,222,686 $ 4,209,908 _______________ (a) Class A Common Stock, $0.01 par value per share, 120,000 shares authorized; 29,921 and 28,629 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively. (b) Class B Common Stock, $0.01 par value per share, 30,000 shares authorized; 6,867 shares issued and outstanding as of March 31, 2026 and December 31, 2025. SPHERE ENTERTAINMENT CO. SELECTED CASH FLOW INFORMATION (In thousands) (Unaudited) Three Months Ended March 31, 2026 2025 Net cash provided by operating activities $ 136,241 $ 6,348 Net cash used in investing activities (5,005 ) (17,570 ) Net cash used in financing activities (22,263 ) (26,307 ) Effect of exchange rates on cash, cash equivalents, and restricted cash (86 ) 98 Net increase (decrease) in cash, cash equivalents, and restricted cash 108,887 (37,431 ) Cash, cash equivalents, and restricted cash at beginning of period 521,264 515,633 Cash, cash equivalents, and restricted cash at end of period $ 630,151 $ 478,202 View source version on businesswire.com: https://www.businesswire.com/news/home/20260505518866/en/ Ari Danes, CFA
Investor Relations
(212) 465-6072 Grace Kaminer
Investor Relations
(212) 631-5076 Original: Sphere Entertainment Co. Reports First Quarter 2026 Results
US Market News
4月前
Vertiv Holdings, Lumentum Holdings, Coherent, and EchoStar Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400, and S&P SmallCap 600March 6, 2026 6:39 PM
PR Newswire (US)
NEW YORK, March 6, 2026 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices:
NAPCO Security Technologies Inc. (NASD: NSSC) will replace Alexander & Baldwin Inc. (NYSE: ALEX) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, March 13. An investor group comprised of MW Group and funds affiliated with DivcoWest and Blackstone Real Estate is acquiring Alexander & Baldwin in a deal that is expected to close soon, pending final closing conditions.The following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 will take effect before the market opens on Monday, March 23, as part of the quarterly rebalance. The changes ensure that each index is more representative of its market–capitalization range. The companies being removed from the S&P SmallCap 600 are no longer representative of the small–cap market space.Following is a summary of the changes that will take place prior to the open of trading on the effective date:Effective
DateIndex Name ActionCompany NameTickerGICS SectorMar 13, 2026S&P SmallCap 600AdditionNAPCO Security Technologies NSSC Information Technology Mar 13, 2026S&P SmallCap 600DeletionAlexander & Baldwin ALEX Real EstateMar 23, 2026S&P 100AdditionMicron TechnologyMU Information Technology Mar 23, 2026S&P 100AdditionLam ResearchLRCX Information Technology Mar 23, 2026S&P 100AdditionApplied MaterialsAMAT Information Technology Mar 23, 2026S&P 100AdditionGE VernovaGEV Industrials Mar 23, 2026S&P 100DeletionPayPal HoldingsPYPL Financials Mar 23, 2026S&P 100DeletionAmerican Intl GroupAIG Financials Mar 23, 2026S&P 100DeletionMetlifeMET Financials Mar 23, 2026S&P 100DeletionTargetTGT Consumer Staples Mar 23, 2026S&P 500AdditionVertiv HoldingsVRTIndustrialsMar 23, 2026S&P 500AdditionLumentum Holdings LITEInformation TechnologyMar 23, 2026S&P 500AdditionCoherentCOHRInformation TechnologyMar 23, 2026S&P 500AdditionEchoStarSATSCommunication ServicesMar 23, 2026S&P 500DeletionMatch Group MTCHCommunication ServicesMar 23, 2026S&P 500DeletionMolina HealthcareMOHHealth CareMar 23, 2026S&P 500DeletionLamb Weston Holdings LWConsumer StaplesMar 23, 2026S&P 500DeletionPaycom Software PAYCIndustrialsMar 23, 2026S&P MidCap 400AdditionSolstice Advanced Materials SOLSMaterialsMar 23, 2026S&P MidCap 400AdditionSiTime SITMInformation TechnologyMar 23, 2026S&P MidCap 400AdditionMoog MOG.AIndustrialsMar 23, 2026S&P MidCap 400AdditionInterDigital IDCCInformation TechnologyMar 23, 2026S&P MidCap 400AdditionVicor VICRIndustrialsMar 23, 2026S&P MidCap 400AdditionCareTrust REIT CTREReal EstateMar 23, 2026S&P MidCap 400DeletionLumentum Holdings LITEInformation TechnologyMar 23, 2026S&P MidCap 400DeletionCoherent COHRInformation TechnologyMar 23, 2026S&P MidCap 400DeletionEchoStar SATSCommunication ServicesMar 23, 2026S&P MidCap 400DeletionZoomInfo Technologies GTMCommunication ServicesMar 23, 2026S&P MidCap 400DeletionASGN ASGNInformation TechnologyMar 23, 2026S&P MidCap 400DeletionKemper KMPRFinancialsMar 23, 2026S&P SmallCap 600AdditionMatch Group MTCHCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionMolina HealthcareMOHHealth CareMar 23, 2026S&P SmallCap 600AdditionLamb Weston Holdings LWConsumer StaplesMar 23, 2026S&P SmallCap 600AdditionPaycom Software PAYCIndustrialsMar 23, 2026S&P SmallCap 600AdditionVSE VSECIndustrialsMar 23, 2026S&P SmallCap 600AdditionArgan AGXIndustrialsMar 23, 2026S&P SmallCap 600AdditionRithm Capital RITMFinancialsMar 23, 2026S&P SmallCap 600AdditionLyft LYFTIndustrialsMar 23, 2026S&P SmallCap 600AdditionLaureate Education LAURConsumer DiscretionaryMar 23, 2026S&P SmallCap 600AdditionLife Time Group Holdings LTHConsumer DiscretionaryMar 23, 2026S&P SmallCap 600AdditionLife360 LIFInformation TechnologyMar 23, 2026S&P SmallCap 600AdditionSphere EntertainmentSPHRCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionZoomInfo Technologies GTMCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionASGNASGNInformation TechnologyMar 23, 2026S&P SmallCap 600AdditionKemper KMPRFinancialsMar 23, 2026S&P SmallCap 600DeletionSolstice Advanced Materials SOLSMaterialsMar 23, 2026S&P SmallCap 600DeletionSiTimeSITMInformation TechnologyMar 23, 2026S&P SmallCap 600DeletionMoog MOG.AIndustrialsMar 23, 2026S&P SmallCap 600DeletionInterDigital IDCCInformation TechnologyMar 23, 2026S&P SmallCap 600DeletionVicor CorpVICRIndustrialsMar 23, 2026S&P SmallCap 600DeletionCareTrust REIT CTREReal EstateMar 23, 2026S&P SmallCap 600DeletionDave & Buster's Entertainment PLAYConsumer DiscretionaryMar 23, 2026S&P SmallCap 600DeletionSunCoke Energy SXCMaterialsMar 23, 2026S&P SmallCap 600DeletionAH Realty Trust AHRTReal EstateMar 23, 2026S&P SmallCap 600DeletionSummit Hotel Properties INNReal EstateMar 23, 2026S&P SmallCap 600DeletionKKR Real Estate Finance Trust KREFFinancialsMar 23, 2026S&P SmallCap 600DeletionBloomin' Brands BLMNConsumer DiscretionaryMar 23, 2026S&P SmallCap 600DeletionMyriad Genetics MYGNHealth CareMar 23, 2026S&P SmallCap 600DeletionCars.com CARSCommunication ServicesMar 23, 2026S&P SmallCap 600DeletionANGI ANGICommunication ServicesABOUT S&P DOW JONES INDICESS&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.FOR MORE INFORMATION:S&P Dow Jones Indices
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View original content:https://www.prnewswire.com/news-releases/vertiv-holdings-lumentum-holdings-coherent-and-echostar-set-to-join-sp-500-others-to-join-sp-100-sp-midcap-400-and-sp-smallcap-600-302707297.htmlSOURCE S&P Dow Jones Indices
Original: Vertiv Holdings, Lumentum Holdings, Coherent, and EchoStar Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400, and S&P SmallCap 600
US Market News
5月前
Maryland Companies Celebrate Global Collaborations, Industry Honors and Local PartnershipsFebruary 3, 2026 8:14 AM
PR Newswire (US)
BALTIMORE, Feb. 3, 2026 /PRNewswire/ -- The Maryland Marketing Partnership, which helps drive Maryland's branding and marketing efforts to attract businesses, create jobs, and grow the state's economy, today shared a summary of the latest news from companies and organizations that invest in the partnership.
"Maryland's marketing partners are starting the year with major investments in our state's workforce and economy," said Harry Coker Jr., Secretary for the Maryland Department of Commerce. "From clean energy to biopharma to higher education to commercial real estate, these investments are helping us build a stronger and more competitive Maryland economy."BGE, Maryland's largest natural gas and electric utility, along with the Exelon Foundation, announced a $250,000 grant for Civic Works' Baltimore Shines solar initiative to support solar installations for 30 homes in Baltimore. According to Civic Works, homeowners will receive free rooftop solar installations, adding clean energy to the grid and generating more than 182,000 kWh of clean electricity per year. The grant is the latest example of BGE's commitment to investing in solutions that make energy more affordable and help customers manage their bills. It also demonstrates BGE and Civic Works' partnership in action to support building a more equitable, sustainable Baltimore."The Montgomery County Economic Development Corporation (MCEDC) remains committed to supporting businesses seeking to relocate or expand in the County by connecting them with the many available grants, incentives, and resources available to businesses in Montgomery County. The anchor of the nation's third-largest biopharma hub and a renowned global technology hub, the County celebrated several milestones last month, including Samsung Biologics expanding its U.S. manufacturing footprint in Montgomery County, retaining 500 jobs, and the announcement of the names of the fifty-five early-stage companies that are being awarded $7.5 million in grants to support their technology commercialization activities through the County's Technology Innovation and Founders Funds program.Peterson Companies, one of the largest privately-owned real estate development companies in the Washington, D.C. region, joined Sphere Entertainment Co. (NYSE: SPHR), the State of Maryland, and Prince George's County to announce their intent to develop a new Sphere venue – which would be the second in the U.S. and first to utilize a smaller-scale design model – at National Harbor, a premier destination in the Washington, D.C. metropolitan area. This project would utilize a combination of public and private funding, including approximately $200 million in state, local, and private incentives. Sphere would support approximately 2,500 jobs during the construction phase, and 4,750 jobs once operational, in addition to generating millions in additional revenue for the County and State. Once open, the economic impact of Sphere National Harbor is expected to be greater than $1 billion annually. Visit our website for additional information.SECU, Maryland's largest state-chartered credit union, is proud to announce it was recently named a Top Workplace by The Baltimore Sun just last month. SECU officially ranked number three out of 44 Maryland businesses recognized in the "Large Business" category, representing those with over 400 employees. SECU President and CEO, David Sweiderk, was also awarded the prestigious Leadership Award – one of just three awardees recognized, dedicated to the top leader in each business category. SECU has been featured on the list for five consecutive years, and follows SECU's recognition in Newsweek's America's Best Regional Banks and Credit Unions 2025 and 2026. To learn more about SECU's current employment opportunities, visit secumd.org/careers/.St. John Properties, a Baltimore-based full-service commercial real estate development and management company, has signed two new leases at Glen Burnie Business Center, a seven-building business community in Anne Arundel County, cumulatively totaling more than 310,000 square feet of flex/R&D space. Caliber Bodyworks of Maryland, LLC signed a lease for 16,624 square feet and Harrison Cart Works, LLC inked a deal for 11,788 square feet. Both tenants plan to open at 132 8th Avenue in Glen Burnie, Maryland early next year. St. John Properties Leasing Representative Claire Metz represented the company in both transactions. St. John Properties recently reimagined the business park by demolishing the former Michael's 8th Avenue banquet hall and speculatively constructing 132 8th Avenue, a 40,560 square foot flex/R&D building. This modern facility, designed to accommodate a wide range of businesses, is St. John Properties newest flex building in the BWI business corridor. For more information about the company, visit www.sjpi.com.TEDCO, Maryland's venture capital for technology and life sciences companies, continues to fuel startup companies through its pool of resources and investment funds; recent investments include those in LASARRUS, Natáur, Pirl Technology and more. The organization also announced SBIR/STTR Matching Funds awardees, the graduation of Ruchika Nijhara from the Leadership Maryland Executive Program, and the latest round of Maryland Innovation Initiative awardees. The entity also announced the signing of several agreements including one enabling up to $50 million investment capital from Taiwanese entity, APAC Investment and Innovation Development Association, one with KUnicorn Investment, LLC, one with Korea Venture Investment Corporation, and announced a collaboration with the Kingdom of Jordan. Learn more about TEDCO at www.tedcomd.com.T. Rowe Price, a global investment management firm and a leader in retirement, announced a strategic collaboration with First Abu Dhabi Bank (FAB), the UAE's global bank and one of the world's largest and safest financial institutions. As part of the partnership, T. Rowe Price will act as FAB's investment partner, providing investment solutions across equity, fixed income, alternatives and multi-asset strategies. This will expand the range of investment offerings available to FAB's clients, while strengthening the bank's investment management proposition. By combining their respective expertise and investment capabilities, the two firms aim to deliver tailored investment solutions across retail, private banking and institutional client segments. These efforts support improved investor outcomes, contribute to the continued development of the GCC's asset management landscape, and align with global investment standards. Reflecting a shared ambition to deliver customised, high-value investment solutions, the collaboration draws on decades of investment experience and established capabilities. It also underscores T. Rowe Price's commitment to the region and its support for sustainable growth across key Middle East markets.The University System of Maryland's (USM) three HBCU's, or Historically Black Colleges and Universities—Bowie State University (BSU), Coppin State University (CSU), and the University of Maryland Eastern Shore (UMES)—are an essential part of the USM's mission of education and access and are seeing tremendous growth and impact. Ranked in the top third of the nation's HBCUs by U.S. News and World Report, these landmark institutions in Maryland are growing academic programs, expanding community partnerships, and preparing underrepresented students for success. Working closely with regional employers, USM's HBCUs develop programs that prepare graduates to thrive in their careers and fill critical workforce shortages. Last year, 1,742 undergraduate degrees were awarded, including about 300 degrees in education, 200 in health professions, and 180 in computer science. They also introduced new degree programs to prepare graduates for growing, high-demand fields, including a new aviation maintenance program at UMES and a new artificial intelligence degree at BSU. BSU alone has generated $351.3 million in economic impact and 2,524 jobs, and 80% of its graduates remain in the state. These HBCUs have long graduated students who are a source of strength to the state and the region, and today they are attracting new funding and national acclaim.United Therapeutics Corporation (UT) employees are deeply passionate about helping patients. A year after launching United Therapeutics Cares, an initiative to better understand and address barriers to access and adherence to therapies, its impact is clear. As Tom Marinello, VP of Patient Relations, notes, UT's small, rare-disease populations make every patient story personal—like the thank-you note a patient sent on the back of a coupon to her favorite ice cream shop. "Behind each number… is a very real person who is counting on us," he says. Read more about the program here.About Maryland Marketing Partnership
The Maryland Marketing Partnership develops the branding strategy for the state, markets the state's assets, and encourages the location and growth of new businesses in Maryland.
View original content to download multimedia:https://www.prnewswire.com/news-releases/maryland-companies-celebrate-global-collaborations-industry-honors-and-local-partnerships-302677335.htmlSOURCE Maryland Marketing Partnership
Original: Maryland Companies Celebrate Global Collaborations, Industry Honors and Local Partnerships
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