Seaport Entmt Group Inc Stock Price, News & Analysis

Seaport Entertainment Group (NYSE: SEG) reported Q1 2025 financial results, showing a net loss of $31.9 million ($2.51 per share), an improvement from Q4 2024's loss of $44.1 million. Total revenues increased 10.7% to $16.1 million. The company has strengthened its position by internalizing food and beverage operations and signing key partnerships, including a 74,497 sq ft lease with Meow Wolf at Pier 17. SEG maintains a strong liquidity position with $132.0 million in cash and equivalents, and $102.4 million in consolidated debt at 7.3% effective interest rate. Notable developments include plans for 17,500 sq ft of event space at Pier 17 and hosting the NYC Wine & Food Festival in October 2025. The company's debt structure is secure with no major maturities until Q3 2029.

Seaport Entertainment Group (NYSE American: SEG) has scheduled its first quarter 2025 earnings release for Monday, May 12, 2025, after market close. The company will host a conference call the following day on Tuesday, May 13, at 8:30 AM ET.

Key details:

• Chairman, CEO and President Anton Nikodemus and CFO Matt Partridge will lead the call
• Investors can submit questions in advance via email to ir@seaportentertainment.com
• Audio webcast available through the "Investors" section at seaportentertainment.com
• Replay available until May 27, 2025

Conference call access numbers:

• Domestic: 1-877-407-3982
• International: 1-201-493-6780
• Playback Domestic: 1-844-512-2921
• Playback International: 1-412-317-6671
• Passcode: 13753311

The Food Network New York City Wine & Food Festival (NYCWFF) announces major changes for its 2025 edition, relocating to Manhattan's historic Seaport neighborhood from October 15-19. The festival will feature renowned Chef Jean-Georges Vongerichten as Culinary Host, who will curate chef collaborations and dining experiences at the Tin Building.

The event introduces new partnerships with Event Zero Foundation as host and beneficiary, and the James Beard Foundation as beneficiary. Seaport Entertainment Group (NYSE: SEG) will facilitate the festival experience, while a21 joins as the production partner. The festival's new waterfront location will host signature events including the Grand Tasting.

Over its 17-year history, NYCWFF has generated more than $14.8 million in net proceeds for charitable causes. The 2025 program launches July 7, with tickets available from July 9 at nycwff.org.

Seaport Entertainment Group (NYSE: SEG) has signed a significant 20-year lease agreement with Meow Wolf for approximately 75,000 rentable square feet at Pier 17. This development will mark Meow Wolf's seventh permanent exhibit and its first East Coast location.

The immersive arts and entertainment venue will join existing attractions at the Seaport, including The Rooftop at Pier 17 concert venue and Lawn Club. The new installation is expected to attract millions of visitors annually, furthering SEG's mission to revitalize Downtown Manhattan's historic waterfront district.

Construction is scheduled to commence in Q3 2025, with opening date and theme details pending announcement. The deal was brokered by CBRE, acting as dual leasing agent for both parties. This expansion adds to Meow Wolf's existing locations in Santa Fe, Las Vegas, Denver, Dallas, and Houston, with Los Angeles also in development.

Seaport Entertainment Group (NYSE: SEG) reported its Q4 and full-year 2024 results, marking its first period as a standalone public company following separation from Howard Hughes Holdings in July 2024. The company posted a Q4 net loss of $41.6 million ($3.63 per share) and a full-year net loss of $153.2 million ($16.82 per share).

Key developments include leasing 74,497 square feet to Meow Wolf and 13,605 square feet to GITANO NYC at Pier 17, extending Live Nation programming agreement for five years, and completing a rights offering that generated $166.8 million through issuing 7 million shares at $25.00 each.

As of December 31, 2024, SEG maintained $167.8 million in cash and equivalents with $102.4 million in consolidated debt at a 7.8% weighted-average interest rate. The company's debt structure is 40% fixed-rate and 60% floating-rate, with no significant maturities until Q3 2029.

Seaport Entertainment Group (NYSE American: SEG) has announced it will release its fourth quarter and full year 2024 operating and financial results after market close on Monday, March 10, 2025.

The company will host a conference call to present these results on Tuesday, March 11, 2025, at 8:30 AM ET. During this call, Chairman, CEO and President Anton Nikodemus and CFO Matt Partridge will address questions that investors email in advance to ir@seaportentertainment.com.

An audio webcast of the conference call will be available through the "Investors" section of SEG's website at www.seaportentertainment.com. Investors should log in ten minutes before the scheduled start time to register. A replay of the webcast will remain available on the company's website until March 25, 2025.

For those wishing to dial in directly:
- Domestic: 1-877-407-3982
- International: 1-201-493-6780
- Playback (Domestic): 1-844-512-2921
- Playback (International): 1-412-317-6671
- Passcode: 13751952

Seaport Entertainment Group (NYSE: SEG) announced two major business developments. First, the company entered into an interim license agreement and long-term lease with Grupo Gitano to open GITANO NYC, their first permanent year-round New York venue, occupying 13,605 square feet at Pier 17.

Additionally, SEG has taken steps to internalize its food and beverage operations by hiring employees from Creative Culinary Management Company (CCMC), a Jean-Georges Restaurants subsidiary, and entering into a shared services agreement. This move aims to streamline operations and enhance efficiency across most of SEG's wholly owned and joint venture-owned restaurants at the Seaport.

Seaport Entertainment Group (NYSE American: SEG) reported Q3 2024 financial results following its separation from Howard Hughes Holdings. The company posted total revenues of $39.7 million, down 1.9% from $40.5 million in Q3 2023, and a net loss of $32.5 million ($5.89 per share), improved from a $736.2 million loss year-over-year.

Key developments include completing a rights offering raising $166.7 million, signing a licensing agreement with The Dead Rabbit, and extending Live Nation programming agreement for five years. The company ended Q3 with $27.8 million in cash and equivalents, $103.4 million in consolidated debt, and a $5 million undrawn credit facility.

Seaport Entertainment Group (NYSE American: SEG) has successfully closed its $175.0 million rights offering, which was oversubscribed with total demand of 14,084,612 shares. The company is issuing 7,000,000 shares of common stock at $25.00 per share. After the offering, SEG will have approximately 12.7 million shares outstanding.

The rights offering was backstopped by Pershing Square Capital Management, which fully exercised its pro rata subscription rights and will receive additional shares through its over-subscription privilege. SEG plans to use the proceeds for general operating, working capital, and other corporate purposes.

CEO Anton Nikodemus stated, "We believe this is a strong endorsement of our strategy and high-quality portfolio." Wells Fargo Securities acted as dealer manager for the offering.