Filing Flows › Seaport Entertainment Group (SEG) › Q1 2025
Seaport Entertainment Group (SEG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Seaport Entertainment Group (SEG) reported revenue of $16.1M for the first quarter 2025 (Q1 2025), +11% from a year earlier and -29% from the quarter before. Operating margin was -203.5%, net loss $31.5M (196.3% of revenue).
Seaport Entertainment Group, Q1 2025: revenue $16.1M (+11% year over year), operating margin -203.5%, net loss $31.5M, operating cash flow −$20.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.1M | -29% | +11% |
| Operating profit | −$32.7M | — | — |
| Net earnings | −$31.5M | — | — |
| Operating cash flow | −$20.5M | — | — |
What changed
Revenue was $16.1M in Q1 2025, up 11% year over year and down 29% from the previous quarter. Hospitality was the largest line at 48% of revenue. Hospitality added $3.7M year over year (up 90%), 235% of the total change. Rental revenue declined 42%.
Operating costs exceeded revenue by $32.7M, an operating margin of -203.5%. Total costs grew 6% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+33%). The quarter ended with a net loss of $31.5M, narrower than the previous quarter's $41.3M loss.
Operating cash flow was −$20.5M. Non-cash charges added back $8.1M of depreciation and amortization. Working capital and other items added $3.0M.
Questions
What was Seaport Entertainment Group's revenue in the first quarter 2025?
Seaport Entertainment Group (SEG) reported revenue of $16.1M for the first quarter 2025 (Q1 2025), +11% from a year earlier and -29% from the quarter before.
Was Seaport Entertainment Group profitable in the first quarter 2025?
Operating loss was $32.7M (-203.5% of revenue) and net loss $31.5M.