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Sep 30, 2025
Seaport Entertainment Group In Q3 2025 Earnings Report
Seaport Entertainment Group posted a Q3 net loss of $33.2 million despite revenue growth driven by hospitality and entertainment segments.
Key Takeaways
SEG increased total revenue by 14% in Q3 2025, supported by hospitality expansion and event programming, but remained unprofitable due to high operating and administrative expenses.
Q3 2025 revenue reached $45.05 million, a 14.3% increase YoY.
Hospitality revenue nearly doubled YoY to $16.6 million due to consolidation of Tin Building operations.
Reported a net loss of $33.2 million and an adjusted net loss of $7.2 million.
Ended the quarter with $106.2 million in cash and cash equivalents.
Revenue by Segment
Forward Guidance
SEG expects continued momentum heading into 2026, backed by new hospitality openings and event programming but remains cautious amid ongoing losses.
Positive Outlook
- New leasing agreements with high-profile tenants like Flanker Kitchen + Sports Bar.
- Upcoming openings of new concepts at the Seaport to support 2026 growth.
- Continued strength in hospitality and entertainment segments.
- Las Vegas Aviators’ championship contributing to brand visibility.
- Corporate restructuring completed to streamline operations.
Challenges Ahead
- Persisting net losses despite revenue growth.
- High operating and general administrative costs.
- Interest expenses remain a drag on profitability.
- Revenue decline in rental segment YoY.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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