BATRA · Atlanta Braves Holdings, Inc.

Atlanta Braves Holdings delivered strong Q1 2026 results with total revenue surging 53% to $72.0 million, propelled by baseball revenue jumping 60% to $45.7 million. This growth stemmed primarily from five regular season home games at Truist Park versus zero in Q1 2025, boosting baseball event revenue 2,588% to $23.7 million through ticket sales, concessions, and premium seating. Contractual rate increases on season tickets and new sponsorships further supported this, though broadcasting revenue dipped 41% due to the timing of the new BravesVision media contracts post-transition from prior local broadcasting. Other baseball revenue declined from fewer special events like Savannah Bananas games. Mixed-Use Development revenue rose 41% to $26.3 million, aided by higher rental income and tenant recoveries from the April 2025 acquisition of adjacent real estate assets to The Battery Atlanta. Adjusted OIBDA improved 39% to $(17.6) million as revenue growth outpaced expense increases; baseball Adjusted OIBDA rose 18% to $(32.3) million while Mixed-Use turned positive at $17.6 million. GAAP operating loss narrowed 7% to $(41.3) million. Costs rose with higher player salaries, variable game expenses, and Acquisition-related operations, plus elevated SG&A from marketing, taxes, and personnel. Balance sheet strengthened with cash up $35 million to $135.2 million from operations and stock option proceeds, offsetting capex and debt service; debt fell $30 million to $709.2 million via TeamCo revolver repayments. Five home games highlight seasonal dynamics, positioning ABH for fuller-year baseball contributions.