SEG
Seaport Entertainment Group Inc.21.30
-0.52-2.38%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Cap alloc details, buyback opportunistic
Q&A clarified capital allocation amid $163M pro forma cash, with $70-90M more capex eyed to stabilize Seaport's announced projects before opportunistic pursuits in hospitality, entertainment assets, or the $50M buyback program—no firm return hurdles set, just earnings growth via team leverage. Balloon Museum complements Meow Wolf, per management chats, to build full-day traffic. Near-100% leased 85 South Street apartments draw interest for potential sale. Vegas ballpark remains core for value creation, open to premium bids. G&A run-rate uses Q4 as benchmark despite Q1 bumps. Deployment discipline matters for the thesis.
Key Stats
Market Cap
271.26MP/E (TTM)
-Basic EPS (TTM)
-2.90Dividend Yield
0%Recent Filings
8-K
2025 losses shrink sharply
Seaport Entertainment reported 2025 results with revenue up 18.3% to $130.4M yet full-year net loss narrowed 23.8% to $116.7M. Losses shrank sharply on adjusted basis by 49.2%. Sold 250 Water Street for $143M in February 2026, netting $76.1M to repay variable debt—no maturities until 2038. Leased Tin Building to Balloon Museum. Momentum builds.
10-K
FY2025 results
Seaport Entertainment posted a FY2025 net loss of $116.7M, improved from $153.2M in 2024, with total revenue up 18% to $130.4M driven by Entertainment's $37.8M (up from $31.4M) via Aviators/Ballpark strength and 62 Rooftop concerts selling 190K tickets at 89% capacity. Hospitality swung to a $35.7M Adjusted EBITDA loss from $49.4M amid Tin Building consolidation, while Landlord Operations flipped to a $7.7M loss (from $2.3M profit) on $11M 250 Water Street writedown—sold February 2026 for $143M proceeds. Q4 momentum showed Aviators acceleration and 90% Seaport leasing/programming at 55% occupancy. Debt stood at $99.6M year-end; $77.8M cash supports runway. Local economic volatility threatens quarterly traffic.
8-K
Tin Building pivots to art
Seaport Entertainment signed a five-year lease with Balloon Museum for the Tin Building, opening its U.S. flagship in Summer 2026 after Jean-Georges operations closed immediately on February 23. The shift pivots the site from food to interactive art, while retaining a 25% stake in JG amid ongoing partnership. Tin Building transforms fast.
8-K
Sold 250 Water Street for $143M
Seaport Entertainment Group completed the sale of its 250 Water Street mixed-use development project to an affiliate of Tavros Holdings for $143.0 million on February 6, 2026. The one-acre site, entitled for 399 residential units and 200,000 square feet of commercial space, fetched a clean exit to an unrelated buyer. Cash influx bolsters liquidity.
8-K
Sale closing set February 5
Seaport Entertainment amended its agreement to sell the 250 Water Street project for $143.0 million, locking the closing date to February 5, 2026, with no further extensions allowed. Buyer must add $1.0 million to the non-refundable deposit, lifting total to $8.5 million. Closing conditions remain unsatisfied. No deal yet.
IPO
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