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Seaport Entertainment Group Inc. (SEG)
:SEG
RESEARCH TOOLSreports
Earnings Data
Report Date
Mar 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -2.40%
|Next Earnings Date:Mar 10, 2025
Earnings Call Sentiment|Neutral
Seaport Entertainment Group's earnings call highlighted significant achievements such as a successful separation, a highly subscribed rights offering, and strategic partnerships including Meow Wolf and Live Nation. However, challenges such as the underperformance of the Tin Building and an increased net loss were also noted. Despite these challenges, the company's positive developments and strategic initiatives suggest a cautiously optimistic outlook.Company Guidance
During Seaport Entertainment Group's inaugural earnings call for the fourth quarter of 2024, several key metrics were highlighted. The company reported total consolidated revenues of $22.8 million, which remained largely flat year-over-year. Hospitality revenue grew by 12.8%, although same-store hospitality revenues experienced a slight decline of 3.5%. The rental revenues saw an increase of nearly 15%, driven primarily by new leases. Operational improvements led to a 20% increase in profitability for the business segments. The net loss attributable to common stockholders was $41.6 million, a 16% increase from the previous year, translating to a net loss per share of $3.63, which was an improvement of 44% compared to the fourth quarter of 2023. The company successfully completed a $175 million rights offering, ending the year with $168 million in cash and cash equivalents. Seaport's strategic initiatives include leasing and programming the Seaport's existing vacancies, with a focus on enhancing hospitality and entertainment offerings.Successful Separation and Establishment
Seaport Entertainment Group successfully separated from Howard Hughes Holdings, became an independent public company, and began trading on the NYSE American under the ticker symbol SEG on August 1, 2024.
Rights Offering Success
Seaport Entertainment Group fortified its balance sheet through a $175 million rights offering, which was more than two times oversubscribed.
Meow Wolf Lease at Pier 17
Seaport signed a long-term 20-year lease with Meow Wolf, expected to drive more than 1 million people to the Seaport annually.
Hospitality Revenue Growth
Overall hospitality revenue grew 12.8% in the fourth quarter, driven by non-comparable concepts and standalone restaurants.
Rental Revenue Increase
Rental revenues increased by nearly 15%, primarily due to the Alexander Wang lease in the Fulton Market Building.
Partnership with Live Nation
Partnership with Live Nation extended for another five years for The Rooftop at Pier 17 concert venue.
Strong Cash Position
Seaport ended the year with cash and cash equivalents of approximately $168 million.
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SEG Earnings History
Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release | Slides | Play Transcript |
|---|---|---|---|---|---|---|---|
| Mar 10, 2025 | 2024 (Q4) | ― | ― | ― | |||
| Nov 07, 2024 | 2024 (Q3) | -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
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SEG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| 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.
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FAQ
When does Seaport Entertainment Group Inc. (SEG) report earnings?
Seaport Entertainment Group Inc. (SEG) is schdueled to report earning on Mar 10, 2025, TBA Not Confirmed.
What is Seaport Entertainment Group Inc. (SEG) earnings time?
Seaport Entertainment Group Inc. (SEG) earnings time is at Mar 10, 2025, TBA Not 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?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SEG EPS forecast?
Currently, no data Available
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