Seritage Growth Q1 net loss widens on impairments, warns on going concern

Seritage Growth Properties

15/05/2026 11:13

Overview

U.S. retail property owner's Q1 net loss widened yr/yr on lower revenue and impairment charges

Company warns of substantial doubt about ability to continue as a going concern

Seritage continues to pursue asset sales and explore strategic alternatives, including a possible sale

Outlook

Company says challenging market conditions may pressure asset sale proceeds and distribution timing

Seritage continues to explore strategic alternatives, including a potential sale of the company

Company says there is substantial doubt about its ability to continue as a going concern

Result Drivers

IMPAIRMENT CHARGES - Co recorded $15.2 mln impairment on a consolidated property and $5.2 mln impairment on an unconsolidated entity in Q1

LOWER RENTAL INCOME - Rental income fell to $1.9 mln from $4.5 mln yr/yr as portfolio shrank

CHALLENGING MARKET CONDITIONS - Co said elevated interest rates and limited capital availability are pressuring asset values and sale proceeds

Company press release: ID:nBw2vFbZ1a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.56
Q1 Net Income
-$30.32 mln


Analyst Coverage

Wall Street's median 12-month price target for Seritage Growth Properties is $6.50, about 148.1% above its May 14 closing price of $2.62

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.)