This is a paid press release. Contact the press release distributor directly with any inquiries.
Seaport Entertainment Group Reports Third Quarter 2026 Results
- SEG
+3.29%
NEW YORK, November 04, 2026–(BUSINESS WIRE)–Seaport Entertainment Group Inc. (NYSE: SEG) (“Seaport Entertainment Group,” “SEG,” “we,” “our,” or the “Company”) announced today its operating and financial results for the quarter ended September 30, 2026.
“Despite weather-related headwinds in Las Vegas and New York City, we delivered positive operating EBITDA for the second consecutive quarter and a 60% improvement in our third quarter non-GAAP adjusted net loss per share,” said Matt Partridge, President and Chief Executive Officer of Seaport Entertainment Group. “The Balloon Museum at the Tin Building opened to a strong reception, and we anticipate that momentum will only grow as awareness builds. Combined with over 160,000 square feet of new tenants and concepts we’ve signed but not yet opened, we have an exciting pipeline that we expect will drive increased visitation to the Seaport and improve our long-term financial performance.”
-
Balloon Museum commenced rent and opened its first permanent U.S. location at the Tin Building in August 2026.
-
Executed a 10-year lease with Brooklyn DOP, the popular Brooklyn-based pizzeria, to open its flagship Manhattan location in the Seaport.
-
Completed the sale of 85 South Street, a multifamily residential building in the Seaport, for $8.3 million in September 2026, generating net proceeds of $7.2 million after credits and closing costs.
-
Hosted Food Network’s New York City Wine & Food Festival throughout the neighborhood, including on The Rooftop at Pier 17, for the second straight year.
-
Q3 2026 Net Loss Attributable to Common Stockholders improved 74.8% year-over-year to ($8.4) million and, on a per share basis, improved 75.1% year-over-year to ($0.65) per basic and diluted share.
-
Q3 2026 Non-GAAP Adjusted Net Income (Loss) Attributable to Common Stockholders improved 58.3% year-over-year to ($3.0) million and, on a per share basis, improved 59.6% to ($0.23) per basic and diluted share.
Select Year-to-Date 2026 Results
-
Completed the sale of the 250 Water Street development site for $143.0 million in February 2026, generating net proceeds of approximately $75.0 million after repaying $61.3 million of variable-rate debt and closing costs.
-
Executed a 5-year lease with Lux Entertainment to open its U.S. flagship of Balloon Museum, the award-winning interactive contemporary art experience, in the Tin Building.
-
Announced a 10-year management and lease agreement with Brooklyn-based arts, culture, and hospitality company, Public Service, the creative and curatorial team behind Public Records.
-
Hosted the 50th Annual Macy’s 4th of July Fireworks® at the Seaport as part of America’s 250th anniversary celebrations.
-
The Rooftop at Pier 17 named by the 2026 Rolling Stone Audio Awards as the Best Outdoor Music Venue in the country.
-
Leased or programmed occupancy of the Seaport neighborhood at 90%.
-
Year-to-date Q3 2026 Net Loss Attributable to Common Stockholders improved 21.2% year-over-year to ($62.9) million and, on a per share basis, improved 21.8% year-over-year to ($4.92) per basic and diluted share.
-
Year-to-date Q3 2026 Non-GAAP Adjusted Net Loss Attributable to Common Stockholders improved 43.9% year-over-year to ($20.6) million and, on a per share basis, improved 44.3% to ($1.61) per basic and diluted share.
