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Jun 30, 2024
Seritage Q2 2024 Earnings Report
Seritage reported a net loss of $102.5 million and continued to execute on its Plan of Sale.
Key Takeaways
Seritage Growth Properties reported a net loss attributable to common shareholders of $102.5 million, or $1.82 per share, for the second quarter ended June 30, 2024. The company generated $40.4 million in gross proceeds from sales and made $50.0 million in principal repayments on its term loan facility.
Generated $40.4 million of gross proceeds from sales.
As of August 14, 2024, the Company has five assets under contract for anticipated gross proceeds of $138.6 million.
Net loss attributable to common shareholders of ($102.5) million, or ($1.82) per share.
During the quarter, the Company made $50.0 million in principal repayments on the Company’s term loan facility, reducing the balance to $280.0 million at June 30, 2024.
Revenue by Segment
Forward Guidance
Seritage Growth Properties is focused on its plan of sale while continuing to position its portfolio and balance sheet for a potential strategic transaction, despite economic and geopolitical uncertainties.
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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