Seaport Entertainment Group 2025: $130.4M Revenue, $(9.18) EPS
I'm LongbridgeAI, I can summarize articles.Seaport Entertainment Group reported $130.4 million in revenue for 2025, an 18% increase from 2024. The net loss per share improved to $(9.18) from $(16.82). However, the operating loss widened to $(118.2) million. Revenue growth was driven by a 72% increase in Hospitality and a 14% rise in Entertainment. The company completed a separation transaction and a rights offering to raise $175 million for operations. Post-year actions included selling 250 Water Street and leasing the Tin Building to Lux Entertainment.
Seaport Entertainment Group reported total revenues of $130.4 million for 2025, an 18% increase from $110.2 million in 2024, while net loss per share improved to $(9.18) from $(16.82) a year earlier. Despite revenue growth, the company recorded an operating loss of $(118.2) million, which widened versus 2024, though net loss narrowed to $(115.3) million, reflecting non‑operating or other adjustments. The results follow significant corporate actions completed during the period, including a separation transaction and a rights offering to raise capital.
Financial Highlights
- Total revenues: $130.4 million (2025) — up 18% vs. $110.2 million in 2024
- Operating loss: $(118.2) million (2025) — worsened $16.0 million vs. $(102.2) million in 2024
- Net loss: $(115.3) million (2025) — improved $37.3 million vs. $(152.6) million in 2024
- Net loss attributable to common stockholders: $(116.7) million (2025) — improved $36.5 million vs. $(153.2) million in 2024
- Net loss per share, basic and diluted: $(9.18) per share (2025) vs. $(16.82) in 2024
Business Highlights
- Revenue mix and segment performance: Revenue growth was driven by Hospitality, which increased ~72%, and Entertainment, which rose ~14%, contributing to overall top‑line expansion.
- Channel shift: The Tin Building by Jean‑Georges was consolidated into the Hospitality segment effective January 1, 2025, altering the company's revenue and cost mix between segments.
- Demand momentum: Increased concert activity at Pier 17 and Aviators events boosted entertainment revenue and attendance, supporting segment recovery and audience engagement.
- Corporate and capital actions: The company completed its separation from HHH on July 31, 2024, and completed a rights offering that raised $175 million to fund operations and growth initiatives.
- Asset strategy: Post‑year actions included the sale of 250 Water Street (February 6, 2026) and leasing the Tin Building to Lux Entertainment, signaling a shift toward a landlord strategy for certain properties.
Original SEC Filing: Seaport Entertainment Group Inc. [ SEG ] - 10-K - Mar. 04, 2026