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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.
Seritage
Seritage
Seritage Revenue by Segment
Revenue by Segment
Rental income Revenue
CapyFin.comManagement and other fee income Revenue
CapyFin.com 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