Seaport Entertainment Q1 Net Loss Widens to $44.1M
Seaport Entertainment Group Inc. reported a net loss attributable to common stockholders of $44.1 million for the three months ended March 31, 2026, a significant increase from $31.9 million in the prior year. Total revenues decreased to $12.7 million from $16.1 million, while total expenses rose to $52.7 million, largely due to a substantial increase in depreciation and amortization. The company completed the sale of its 250 Water Street property for $143.0 million, which significantly boosted cash from investing activities.
Key Highlights
- Net loss attributable to common stockholders widened by 38.3% to $44.1 million YoY.
- Total revenues decreased by 20.8% to $12.7 million from $16.1 million YoY.
- Total expenses increased by 8.0% to $52.7 million from $48.8 million YoY.
- Depreciation and amortization expense surged by 148.6% to $20.1 million YoY.
- Hospitality revenue decreased by 33.9% to $5.1 million YoY.
- Rental revenue decreased by 26.6% to $2.8 million YoY.
- Proceeds from the sale of 250 Water Street totaled $137.4 million.
- Cash and cash equivalents increased to $114.8 million from $77.8 million QoQ.
Price Impact
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