The sharp revenue decline and widening GAAP loss signal ongoing operational headwinds, though strong cash and improved non-GAAP results provide some support. Monitor the upcoming earnings call for commentary on leasing activity, cost controls, and revenue trajectory for the remainder of 2026.
Price Chart
Executive Summary
Seaport Entertainment Group reported Q1 2026 revenue of $12.7M (down 20.7% YoY) and a GAAP net loss attributable to common stockholders of $44.1M (widening 38.3% YoY). Non-GAAP adjusted net loss improved 21.4% YoY, but the steep revenue decline and lack of forward guidance overshadow operational improvements. The company ended the quarter with $144.7M in cash and $39.1M in debt after selling 250 Water Street.
Key Facts
- Q1 2026 total revenue $12.7M, down 20.7% YoY from $16.1M
- GAAP EPS loss of ($3.47) vs ($2.51) in Q1 2025, increased 38.2%
- Non-GAAP adjusted EPS loss improved to ($1.41) from ($1.79) (21.2% improvement)
- Cash, equivalents, and restricted cash $144.7M; total debt $39.1M at fixed rate 4.9%
- No revenue or EPS guidance provided
- Hospitality revenue fell 34% YoY; rental revenue fell 26.6% YoY
Financial Impact
Revenue declined $3.3M (20.7% YoY); net loss attributable to common stockholders increased $12.2M (38.3% YoY)
Risk Factors
- Continued revenue contraction in hospitality and rental segments
- Dependence on discretionary consumer spending in NYC and Las Vegas
- No forward guidance increases uncertainty about near-term recovery
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-056308 |
| Document: seg-20260506xex99d2.htm | 0001104659-26-056308 |
| Document: seg-20260506x8k.htm | 0001104659-26-056308 |
| Document: 0001104659-26-056308-index-headers.html | 0001104659-26-056308 |
| Document: 0001104659-26-056308-index.html | 0001104659-26-056308 |
| Document: 0001104659-26-056308.txt | 0001104659-26-056308 |
| 8-K Data (Synthetic) | 0001104659-26-056308 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 144 | $22.50 | awaiting T+60 | — | $22.60 (+0.44%) |
Jun 29, 2026 17w ago | 8-K | $26.60 $23.83 | ▼ −10.41% | ▼ −13.98% | $22.60 (−15.04%) |
May 6, 2026 24w ago | 8-K | $22.24 $26.06 | ▼ −17.18% | ▼ −13.34% | $22.60 (−1.62%) |
Apr 7, 2026 28w ago | 8-K | $22.20 $27.12 | ▲ +22.16% | ▲ +11.71% | $22.60 (+1.80%) |
Mar 17, 2026 31w ago | EFFECT | $22.03 $24.08 | ▲ +9.31% | ▼ −0.56% | $22.60 (+2.59%) |
Mar 9, 2026 32w ago | S-3 | $21.70 $23.60 | ▲ +8.76% | ▼ −2.93% | $22.60 (+4.15%) |
Mar 5, 2026 33w ago | 8-K | $23.03 $24.55 | ▲ +6.60% | ▼ −4.70% | $22.60 (−1.87%) |
Feb 28, 2026 34w ago | Institutional Cluster | $23.08 $23.71 | ▲ +2.73% | ▼ −6.60% | $22.60 (−2.08%) |
US Market Status
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