Seaport Entertainment Group Inc. (SEG)
NYSE:SEG
Earnings Data
Report Date
May 18, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-1.24Last Year’s EPS
-2.51Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated clear operational progress: improved adjusted EBITDA at the segment level, significant leasing and programming activity, strategic monetization of 250 Water Street that strengthened liquidity, and several new initiatives (Balloon Museum, Meow Wolf, expanded Pier 17 events) that should drive visitation and diversify revenue. At the same time, the company faces meaningful near-term challenges including Hospitality top-line softness driven by the Tin Building repositioning, substantial one-time Landlord charges related to 250 Water Street, remaining vacancy and capital required to stabilize the portfolio, and a still-large GAAP net loss for the year. Overall the tone is constructive and focused on stabilization and growth, with material improvements in cash and operating metrics but with important execution and capital deployment tasks remaining.Company Guidance
Improved Profitability Metrics
Reported net loss attributable to common stockholders of $36.9M in Q4 and $116.7M for full year 2025, representing a reported full-year improvement of ~24% year-over-year; non-GAAP adjusted net loss narrowed to $17.5M in Q4 and $54.1M for the full year, reflecting meaningful year-over-year improvement in adjusted loss metrics.
Revenue Stability and Quarterly Growth
Total consolidated revenues of $29.5M in Q4 2025, up 7% year-over-year on a pro forma basis; full year consolidated revenue of $130.4M essentially flat to pro forma 2024, indicating stabilization of top-line after the spin.
Segment-Level Operating Improvements
Hospitality operating EBITDA (ex nonrecurring items) improved — management cited a 17% year-over-year increase in Q4 on a pro forma basis and a 25% increase for the full year after excluding one-time items; Entertainment revenues rose 68% in Q4 and 14% for the full year with Entertainment adjusted EBITDA up 124% year-over-year, reflecting strong flow-through from internalization of Enchant and tighter cost control.
Balance Sheet and Liquidity Strengthening
Year-end cash, restricted cash and equivalents just over $87M and pro forma cash of $163M after the sale of 250 Water Street; long-term debt reduced to $100.4M and net debt to gross sales ~2%; subsequently paid off the $61.3M variable-rate loan tied to 250 Water Street, eliminating related interest and carry costs.
Strategic Asset Monetization and Cost Relief
Completed sale of 250 Water Street (closed early February) which removed ~$7M of annual cash burn related to interest/carry costs and provided additional capital; transaction expected to clear post-closing obligations in 2026.
New Leases and Programming to Drive Visitation
Leasing, programming and development plans finalized for ~153,000 sq ft across the Seaport with notable signings (Meow Wolf, new restaurants, etc.); since becoming public, leased/programmed >220,000 sq ft expected to yield >$30M of stabilized EBITDA pro forma.
Tin Building Repositioning & Balloon Museum Lease
Signed a lease with Lux Entertainment to bring the Balloon Museum to the Tin Building (initial 5-year term plus two 5-year options); estimated capex ~$5M paid by landlord with tenant fit-out at tenant expense; company estimates the lease could improve pro forma annual EBITDA by more than $22M compared to Tin Building 2025 performance.
Event Space Expansion and Venue Accolades
Announced expansion of Pier 17 event space from 17,500 sq ft to >40,000 sq ft targeting corporate, not-for-profit and social events with expected unlevered cash-on-cash returns above 20% and payback under five years; Rooftop at Pier 17 named Best Outdoor Music Venue (Rolling Stone Audio Awards 2026) after record attendance/high customer scores in 2025.
Capital Market Optionality
Board approved a $150M shelf registration statement and a $50M stock repurchase program to provide flexibility for future capital raising or opportunistic buybacks.
SEG Earnings History
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 |
|---|---|---|---|
Mar 16, 2026 | $21.54 | $22.03 | +2.27% |
Nov 10, 2025 | $24.03 | $23.28 | -3.12% |
Aug 11, 2025 | $24.00 | $23.50 | -2.08% |
May 12, 2025 | $19.23 | $19.44 | +1.09% |
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 18, 2026, After Close (Confirmed).
What is Seaport Entertainment Group Inc. (SEG) earnings time?
Seaport Entertainment Group Inc. (SEG) earnings time is at May 18, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What is SEG EPS forecast?
SEG EPS forecast for the fiscal quarter 2026 (Q1) is -1.24.