Summary
Seaport Entertainment Gr Q2 Earnings Call Highlights
Seaport Entertainment Gr NYSE: SEG reported its first quarter of positive operating EBITDA and positive non-GAAP adjusted net income in the second quarter of 2026, as the company benefited from improved operations, lower corporate costs, the closure of the Tin Building and payments associated with the early termination of Nike's Pier 17 lease.
Seaport Entertainment Group Inc. (SEG) Q2 2026 Earnings Call Transcript
Seaport Entertainment Group Inc. (SEG) Q2 2026 Earnings Call Transcript
Seaport Entertainment: Bill Ackman's Hidden Gem
Seaport Entertainment Group offers irreplaceable experiential real estate assets, including NYC's South Street Seaport and Las Vegas entertainment properties, at a deep discount. SEG's multi-revenue ecosystem strategy leverages hospitality, events, and cultural programming to drive recurring cash flow and enhance asset values. Recent asset sales, strategic leasing, and operational pivots have strengthened SEG's fortress balance sheet, with $163 million in cash and minimal debt.
Seaport Entertainment Group, Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Curtis Ellergodt Rothschild Investment LLC | 8 | $172 | $209.84 | $37.84 | 22% |
| TGK Thomas G. Kahn KAHN BROTHERS GROUP Inc. | 893,227 | $20.02M | $24.75M | $4.73M | 23.62% |
| MEM Margaret E. Moloney Independent Investors Inc | 7,584 | $205,981.44 | $198,928.32 | -$7,053.12 | -3.42% |
 Bill Ackman Pershing Square Capital Management LP | 5.02M | $139.3M | $131.77M | -$7.53M | -5.41% |
 Joseph Castro Nuveen LLC | 13,815 | $288,501.62 | $398,977.2 | $110,475.58 | 38.29% |
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Seaport Entertainment Group, Inc. Profile
| Entertainment Industry | Communication Services Sector | Matthew Morris Partridge CEO | NYSE Exchange | 812215200 CUSIP |
| US Country | 627 Employees | - Last Dividend | - Last Split | - IPO Date |
Overview
Seaport Entertainment Group Inc. is a dynamic company specializing in the development, ownership, and operation of a wide array of entertainment and real estate assets. With a primary geographical focus on New York City and Las Vegas, the organization thrives across three primary segments: Landlord Operations, Hospitality, and Sponsorships, Events, and Entertainment. The company was established in 2024 and operates with a strategic base in New York, New York. Functioning as a subsidiary of Howard Hughes Holdings Inc., Seaport Entertainment Group Inc. leverages its diverse portfolio to offer exceptional experiences and services in some of the most vibrant entertainment markets in the United States.
Products and Services
- Landlord Operations: This segment involves the company's engagement in both owning and operating a variety of real estate assets. These include a mix of restaurant, retail, office, and entertainment properties alongside residential units primarily located in Seaport. By managing these assets directly, Seaport Entertainment Group Inc. ensures a cohesive and high-quality tenant experience.
- Hospitality: The Hospitality segment showcases the company's prowess in managing six fine dining and casual dining establishments, inclusive of cocktail bars and entertainment venues. Notable names under this segment include The Fulton, Mister Dips, Carne Mare, Malibu Farm, Pearl Alley, and The Lawn Club. Furthermore, the Tin Building is operated under this segment, offering a diverse range of dining, retail, and private dining experiences. This broad spectrum of venues demonstrates the company's commitment to providing premier hospitality experiences.
- Sponsorships, Events, and Entertainment: This dynamic segment encompasses a wide range of entertainment assets and activities. Among them are the Las Vegas Aviators Triple-A Minor League Baseball team and the state-of-the-art Las Vegas Ballpark. Additionally, it includes the Fashion Show Mall Air Rights, various Seaport events and concerts, and an array of sponsorship agreements. These sponsorships span across both Seaport and the Las Vegas Ballpark, illustrating the company's influential role in crafting unique and memorable entertainment experiences.
