The earnings call presented a balanced view of Seaport Entertainment Group's performance. While there were significant achievements in the entertainment sector and operational improvements leading to better financial performance, the company faced challenges with declining hospitality revenues and a net loss for the quarter.

Company Guidance -

Q1 2025

During the Seaport Entertainment Group's first quarter 2025 earnings call, the company outlined its strategic priorities aimed at achieving financial stability and growth. These include addressing cash burn to reach breakeven by 2026, achieving profitability by 2027, and stabilizing the asset base by 2028. Key initiatives involve optimizing the Tin Building's operations, improving cash flow through strategic leasing, and monetizing non-cash flowing assets like 250 Water Street, which has attracted over 130 potential buyers or partners. Despite a 12% year-over-year decline in same-store hospitality revenues and an overall 16% decline in hospitality revenues, the company reported a 7% improvement in Tin Building's EBITDA. The Entertainment segment saw an 18% revenue increase, driven by successful events like the Rooftop at Pier 17's concert series. The company also announced plans to develop 17,500 square feet of event space at Pier 17, enhancing its capacity to host large-scale events. Overall, the company reported a 10% increase in total operating EBITDA, a 41% reduction in G&A expenses, and a 28% improvement in net loss compared to the previous year.

Entertainment Segment Growth

Entertainment revenue increased 18% versus Q1 2024, with successful events such as the Rooftop at Pier 17's concerts and increased ticket sales for the Las Vegas Aviators.

GITANO New York City Opening

The soft opening of GITANO New York City at Pier 17 and a grand opening event in May received positive press, setting GITANO up as a key destination in New York City.

Improvement in Financial Performance

Despite revenue declines, the Tin Building improved first quarter asset level EBITDA by 7% compared to Q1 2024. Overall operating EBITDA for the company increased 10% compared to Q1 2024.

Reduction in General and Administrative Expenses

General and administrative expenses decreased by 41% year-over-year, driven by non-repeating separation expenses from Q1 2024.

Positive Net Debt Position

Net debt to gross assets was negative 4%, benefiting from healthy cash and cash equivalent balances totaling $132 million.

Seaport Entertainment Group Inc. (SEG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SEG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 12, 2025	2025 (Q1)	- / -2.51	-6.873	63.45% (+4.36)	―
Mar 10, 2025	2024 (Q4)	- / -3.28	―	―	―
Nov 07, 2024	2024 (Q3)	- / -5.70	-111.126	94.87% (+105.43)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SEG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 12, 2025	$19.23	$19.44	+1.09%
Mar 10, 2025	$22.11	$22.15	+0.18%
Nov 07, 2024	$28.92	$28.47	-1.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Seaport Entertainment Group Inc. (SEG) report earnings?

Seaport Entertainment Group Inc. (SEG) is schdueled to report earning on May 12, 2025, After Close (Confirmed).

What is Seaport Entertainment Group Inc. (SEG) earnings time?

Seaport Entertainment Group Inc. (SEG) earnings time is at May 12, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

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What is SEG EPS forecast?

Currently, no data Available

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