Seaport Entertainment Q2 adjusted profit turns positive as expenses fall

Seaport Entertainment

05/08/2026 22:12

Overview
US entertainment and hospitality firm's Q2 revenue fell 13.8% yr/yr amid lower hospitality sales
Net loss attributable to common stockholders narrowed 29.2% yr/yr to $10.5 mln
Non-GAAP adjusted net income attributable to common stockholders turned positive at $0.3 mln

Outlook
Company did not provide specific financial guidance for the current or future periods

Result Drivers
SEGMENT PROFITABILITY - Co said all business segments were profitable for the first time, citing expanded in-person experiences and a larger events calendar
NEW VENUES - Opening of Sadie's Garden Bar drove a 125% yr/yr revenue increase compared to prior non-SEG managed operations
LEASE TERMINATION FEES - Accelerated rent and termination fees from Nike lease termination contributed to results and enabled Pier 17 Event Space buildout

Company press release: ID:nBw6CFyBPa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted Net Income
Beat
$320,000
-$3.12 mln (1 Analyst)
Q2 Net Loss
 
$10.11 mln
 
Q2 Operating Income
 
-$11.10 mln
 
Q2 Pretax Loss
 
$10.11 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the leisure & recreation peer group is "buy"
Wall Street's median 12-month price target for Seaport Entertainment Group Inc is $27.00, about 1.6% above its August 4 closing price of $26.57

Reuters Recommended Reads
Aug 5 - Choice Hotels Q2 revenue and adjusted EPS beat estimates
Aug 3 - Marriott International's Q2 adj profit beats on fee growth
Aug 4 - Finland's NoHo Partners Q2 revenue rises on entertainment events

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)