Seaport Entertainment Group Inc. SEG
Seaport Entertainment Group Inc. ("Seaport Entertainment," the "Company," "we," "our" and "us") is a Delaware corporation and was incorporated in 2024 in connection with, and anticipation of, Howard Hughes Holdings Inc.'s ("HHH") spin-off of its entertainment-related assets in New York City and Las Vegas (the "Spin-Off"). The separation of Seaport Entertainment from HHH, which was effected through HHH's pro rata distribution of 100% of the outstanding shares of common stock of Seaport Entertainment to holders of HHH common stock, was completed on July 31, 2024. Following the completion of the separation, Seaport Entertainment became an independent, publicly traded company. On August 1, 2024, the Company's common stock began trading on the NYSE American LLC (the "NYSE American") under the symbol "SEG". On June 30, 2025, the Company transferred the listing of the Company's common stock from the NYSE American LLC to the New York Stock Exchange, continuing to trade under the symbol "SEG."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $130.4M | $110.2M | $114.9M | $119.0M | — |
| SG&A | $42.8M | $63.3M | $30.5M | $17.0M | — |
| Total operating expenses | $234.7M | $219.1M | $199.1M | $186.7M | — |
| Operating income | -$118.2M | -$102.2M | -$756.7M | -$66.7M | — |
| Pre-tax income | -$115.3M | -$152.6M | -$840.3M | -$107.8M | — |
| Income tax | $0 | $0 | $2.2M | $3.5M | — |
| Net income | -$116.7M | -$153.2M | -$838.1M | -$111.3M | — |
| EPS, basic | -9.18 | -16.82 | -151.77 | -20.15 | — |
| EPS, diluted | -9.18 | -16.82 | -151.77 | -20.15 | — |
| Shares, diluted (wtd. avg.) | $12.7M | $9.1M | $5.5M | $5.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $77.8M | $165.7M | $1.8M | $66.7M | $56.9M |
| Inventory | $2.3M | $1.9M | $2.7M | — | — |
| Total assets | $650.1M | $743.6M | $616.8M | — | — |
| Long-term debt | $38.3M | $101.6M | $155.6M | — | — |
| Total liabilities | $183.7M | $172.2M | $231.9M | — | — |
| Retained earnings | -$168.4M | -$51.7M | — | — | — |
| Total equity | $456.5M | $561.5M | $384.9M | $1.10B | $967.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$49.7M | -$52.7M | -$50.8M | -$29.6M | — |
| Depreciation and amortisation | $32.2M | $34.8M | $48.4M | $47.4M | — |
| Investing cash flow | -$23.8M | -$102.9M | -$108.3M | -$198.0M | — |
| Financing cash flow | -$7.0M | $279.6M | $136.2M | $237.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-023561.
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