Seaport Entertainment Group Inc. ( (SEG) ) has released its Q3 earnings. Here is a breakdown of the information Seaport Entertainment Group Inc. presented to its investors.
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Seaport Entertainment Group Inc. is a publicly traded company based in New York, specializing in entertainment and real estate, with significant operations in New York City and Las Vegas. The company operates through three segments: Hospitality, Entertainment, and Landlord Operations.
In its latest earnings report for the third quarter of 2025, Seaport Entertainment Group Inc. reported total revenues of $45.05 million, marking an increase from $39.43 million in the same period last year. Despite the revenue growth, the company faced a net loss of $32.86 million, which is slightly higher than the $32.27 million loss reported in the third quarter of 2024.
Key financial highlights include a notable increase in hospitality revenue, which rose to $16.6 million from $8.95 million year-over-year. However, the company experienced a decline in rental revenue, dropping to $5.61 million from $6.64 million. The company also reported a loss on assets held for sale amounting to $3.99 million, reflecting the pending sale of its 250 Water Street development asset.
The company continues to navigate challenges including increased hospitality and entertainment costs, which have impacted overall profitability. Despite these challenges, Seaport Entertainment Group remains focused on leveraging its strategic assets in key markets to drive future growth.
Looking ahead, Seaport Entertainment Group’s management remains committed to optimizing its operations and exploring development opportunities, while addressing the macroeconomic challenges that could impact its performance in the coming quarters.