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Sep 30, 2024
Seaport Entertainment Group In Q3 2024 Earnings Report
Seaport Entertainment Group reported a net loss and a slight decrease in revenues compared to the prior year quarter.
Key Takeaways
Seaport Entertainment Group reported its Q3 2024 results, highlighting its separation from Howard Hughes Holdings and its new status as an independent publicly traded company. The company reported a net loss of $32.5 million, or $5.89 per share, and revenues of $39.7 million, slightly lower than the prior year's $40.5 million.
Completed separation from Howard Hughes Holdings to become an independent company.
Reported a net loss of $32.5 million, or $5.89 per share.
Total revenues amounted to $39.7 million.
Completed rights offering, generating net proceeds of approximately $166.7 million.
Revenue by Segment
Forward Guidance
The company is building momentum by forging strategic partnerships and prioritizing a customer-centric approach to reimagining the customer experience across many of our assets.
Positive Outlook
- Focus on long-term value creation.
- Implement innovative strategies across portfolio.
- Enhance operational efficiencies.
- Strengthen cash flow.
- Prioritizing a customer-centric approach
Challenges Ahead
- Risks related to macroeconomic conditions.
- Changes in discretionary consumer spending patterns.
- Risks associated with investments in real estate assets.
- Inability to control certain properties due to joint ownership.
- The significant influence Pershing Square has over the Company.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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