Research Reports

Key takeaways

Revenue declined 20.7% to $12.7M from $16.1M year-over-year, reflecting Tin Building by Jean-Georges closure in February 2026 which reduced intercompany rental revenue.

Diluted EPS deteriorated 38.2% to -$3.47 from -$2.51, mirroring broader net income pressures from operational and interest cost increases.

Net cash used in operating activities halved to -$10.3M from -$20.5M, due to changes in segment operating activities and decreased general and administrative expenses.

Full analysis

Seaport Entertainment Group Inc. (SEG) reported Q1 FY2026 results reflecting operational challenges from key asset closures and cost dynamics, as detailed in Item 2 - Management's Discussion and Analysis. Revenue fell 20.7% to $12.7 million from $16.1 million in the prior-year quarter. This decline was primarily driven by the closure of the Tin Building by Jean-Georges in February 2026, which reduced intercompany rental revenue in Landlord Operations and contributed to broader segment pressures, alongside an increase in reserves compared to the prior period.

SEG · Seaport Entertainment Group Inc.

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Full analysis