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Mar 31, 2025
Seaport Entertainment Group In Q1 2025 Earnings Report
Seaport Entertainment Group narrowed its net loss in Q1 2025 while growing total revenue by over 10% year-over-year.
Key Takeaways
Seaport Entertainment Group posted $16.1 million in revenue for Q1 2025, up 10.7% YoY, and reduced its net loss by nearly $12.2 million as it began internalizing key operations and welcomed new entertainment partners.
Revenue grew to $16.1 million, a 10.7% increase year-over-year.
Net loss attributable to common stockholders was $31.9 million, improved from $44.1 million last year.
Hospitality revenue rose sharply to $7.7 million, nearly doubling from Q1 2024.
Cash and cash equivalents stood at $129.9 million, with no significant debt maturities until 2029.
Revenue by Segment
Forward Guidance
SEG aims to leverage operational momentum and strategic partnerships to drive long-term profitability and reduce cash burn, supported by a strong balance sheet.
Positive Outlook
- Successful internalization of food and beverage operations via CCMC.
- Launch of 2025 concert season with strong ticket sales.
- Meow Wolf lease expected to enhance visitor engagement.
- Plans for 17,500 sq. ft. of new event space underway.
- Hosting NYC Wine & Food Festival in October 2025 with Jean-Georges.
Challenges Ahead
- Net loss remains substantial despite year-over-year improvement.
- Rental revenue declined compared to Q1 2024.
- High hospitality operating costs outpaced segment revenue.
- Limited detail on future financial targets or profitability timeline.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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