Seaport Entertainment Group Inc. · NYSE:SEG
Seaport Entertainment — Q2 2026 Earnings Presentation
27 slides from Seaport Entertainment's earnings presentation, Aug 6, 2026
Slide 1: Q2 2026 Supplemental
SEAPORT cue" SUPPLEMENTAL
Slide 2: Table of Contents
TABLE OF CONTENTS Q2 2026 Earnings Release p. 3 Capitalization p. 11 Debt Summary p. 12 Capital Investments p. 13 Portfolio Summary p. 14 Seaport NYC Detail p. 15 Seaport NYC Leasing or Programming Activity p. 16 2026 Statement of Operations p. 17 2025 Statement of Operations p. 18 Statement of Oper
Slide 3: Seaport Entertainment Group Reports Second Quarter 2026 Results
SEAPORT ENTERTAINMENT GROUP REPORTS SECOND QUARTER 2026 RESULTS NEW YORK, NY, August 5, 2026 – 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 June 30, 2026. “
Slide 4: Quarterly Results
▪ Leased or programmed occupancy of the Seaport neighborhood at 89%. ▪ Net Loss Attributable to Common Stockholders increased (16.9%) year-over-year to ($54.6) million and, on a per share basis, increased (16.0%) year-over-year to ($4.27) per basic and diluted share. ▪ Non-GAAP Adjusted Net Loss Att
Slide 5: Balance Sheet
Balance Sheet As of June 30, 2026, the Company had $127.0 million in cash, cash equivalents and restricted cash and $38.1 million of debt outstanding at a fixed interest rate of 4.9%. The Company’s outstanding debt is asset-specific, secured debt, and the maturity date is in 2038. Investor Conferenc
Slide 6: Risk Factors
concentration of the Company’s properties and operations in New York City and the Las Vegas area; social, political and economic instability, unrest and other circumstances beyond the Company’s control which could adversely affect the Company’s business operations; adverse changes in laws or regulat
Slide 7: Non-GAAP Adjusted Net Income and Website Information
Common Stockholders and Non-GAAP Adjusted Net Income (Loss) Attributable to Common Stockholders Per Share to the most directly comparable GAAP measure of net loss. Availability of Information on SEG’s Website and Social Media Channels Investors and others should note that SEG routinely announces mat
Slide 8: Consolidated Balance Sheets
Seaport Entertainment Group Inc. Consolidated Balance Sheets (in thousands, except par value amounts) (Unaudited) June December 30, 2026 31, 2025 ASSETS Buildings and equipment $ 531,207 $ 537,243 Less: accumulated depreciation (224,106) (225,662) Land 9,497 9,497 Net investment in real estate 316,5
Slide 9: Consolidated Statements of Operations
Seaport Entertainment Group Inc. Consolidated Statements of Operations (in thousands, except per share amounts) (Unaudited) Three months ended Six months ended June 30, June 30, 2026 2025 2026 2025 REVENUES Hospitality revenue $ 7,020 $ 15,177 $ 12,128 $ 22,912 Entertainment revenue 19,639 19,908 24
Slide 10: Reconciliation of Net Loss to Non-GAAP Adjusted Net Income
Seaport Entertainment Group Inc. Reconciliation of Net Loss to Non-GAAP Adjusted Net Income (Loss) Attributable to Common Stockholders (in thousands, except per share amounts) (Unaudited) Three months ended Six months ended June 30, June 30, 2026 2025 2026 2025 Net loss $ (10,108) $ (14,424) $ (53,8
Slide 11: Capitalization
CAPITALIZATION Common stock outstanding 12,805 Period ending common stock price $26.60 Common equity market capitalization $340,613 Series A Preferred Equity outstanding 10 Per share liquidation preference of Series A Preferred Equity $1,000.00 Liquidation preference of Series A Preferred Equity out
Slide 12: Debt Summary
DEBT SUMMARY DEBT OUTSTANDING FACE VALUE MATURITY DATE INTEREST RATE TYPE Las Vegas Ballpark loan $38,054 December 2038 4.9% Fixed FIXED RATE DEBT FACE VALUE Fixed rate debt $38,054 LEVERAGE METRICS Face value of debt outstanding $38,054 Cash, restricted cash, and cash equivalents (126,974) Net debt
Slide 13: Capital Investments
CAPITAL INVESTMENTS INVESTMENT IN PREVIOUSLY OCCUPIED SPACE Q1 2026 Q2 2026 Q3 2026 Q4 2026 2026 Capital expenditures $11 $15 $26 Tenant improvement allowance − − − Leasing commissions − 323 323 Total $11 $338 $349 INVESTMENT IN INHERITED VACANCY Q1 2026 Q2 2026 Q3 2026 Q4 2026 2026 Capital expendit
Slide 14: Portfolio Summary
PORTFOLIO SUMMARY RENTABLE SQUARE FEET/ UNITS/ USE TYPE CAPACITY/OWNERSHIP INTEREST 1 SEAPORT NEIGHBORHOOD Mixed-Use 454,000 Rentable Square Feet2 NYC Music Venue 3,500-Person Capacity Concert Venue 85 SOUTH STREET Multifamily 21 Multifamily Units LAS VEGAS BALLPARK Baseball Stadium 10,000-Person Ca
Slide 15: Seaport NYC Detail
SEAPORT NYC DETAIL NOTABLE RENTABLE REMAINING IN-PLACE LEASED/PROGRAMMED ASSET TENANTS/CONCEPTS USE TYPE SQUARE FEET1 VACANCY OCCUPANCY OCCUPANCY One Seaport Plaza Vacant Retail 24,460 24,460 − % − % Schermerhorn Row McNally Jackson, Fulton Stall Market, HIIT Retail 28,727 10,190 65% 65% the Deck Bo
Slide 16: Seaport NYC Leasing or Programming Activity
SEAPORT NYC LEASING OR PROGRAMMING ACTIVITY OPENING OR TENANT/CONCEPT PROPERTY TENANT TYPE STRUCTURE EXPECTED OPENING SQUARE FEET GITANO NYC Pier 17 Food & Beverage License to Lease Q2 2025 14,612 Sadie’s and Sadie’s Garden Bar Museum Block Food & Beverage Operating Q2 2026 7,041 Cork Schermerhorn R
Slide 17: 2026 Statement of Operations
2026 STATEMENT OF OPERATIONS Q1 2026 Q2 2026 Q3 2026 Q4 2026 2026 Hospitality revenue $5,108 $7,020 $12,128 Entertainment revenue 4,498 19,639 24,137 Rental revenue 2,782 7,053 9,835 Other revenue 349 578 927 Total revenues $12,737 $34,290 $47,027 Hospitality costs 10,227 6,874 17,101 Entertainment
Slide 18: 2025 Statement of Operations
2025 STATEMENT OF OPERATIONS Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Hospitality revenue $7,735 $15,177 $22,912 Entertainment revenue 4,209 19,908 24,117 Rental revenue 3,789 4,232 8,021 Other revenue 336 484 820 Total revenues $16,069 $39,801 $55,870 Hospitality costs 15,742 17,845 33,587 Entertainmen
Slide 19: Statement of Operations YoY Change
STATEMENT OF OPERATIONS YOY CHANGE Q1 ’26 −’25 Q2 ’26 −’25 Q3 ’26 −’25 Q4 ’26−’25 2026 VS. 2025 Hospitality revenue ($2,627) ($8,157) ($10,784) Entertainment revenue 289 (269) 20 Rental revenue (1,007) 2,821 1,814 Other revenue 13 94 107 Total revenues ($3,332) ($5,511) ($8,843) Hospitality costs (5
Slide 20: Q2 2026 Segment Operating EBITDA
Q2 2026 SEGMENT OPERATING EBITDA LANDLORD HOSPITALITY ENTERTAINMENT OPERATIONS Q2 2026 Total revenues $7,184 $19,823 $8,902 Hospitality costs (8,333) − − Entertainment costs − (16,169) − Operating costs − − (6,947) Total operating expenses (8,333) (16,169) (6,947) Operating EBITDA ($1,149) $3,654 $1
Slide 21: Q2 2025 Segment Operating EBITDA
Q2 2025 SEGMENT OPERATING EBITDA LANDLORD HOSPITALITY ENTERTAINMENT OPERATIONS Q2 2025 Total revenues $15,197 $20,118 $9,771 Hospitality costs (23,079) − − Entertainment costs − (15,411) − Operating costs − − (7,739) Total operating expenses (23,079) (15,411) (7,739) Operating EBITDA ($7,882) $4,707
Slide 22: Q2 Segment Operating EBITDA YoY Change
Q2 SEGMENT OPERATING EBITDA YOY CHANGE LANDLORD Q2 2026 VS. HOSPITALITY ENTERTAINMENT OPERATIONS Q2 2025 Total revenues ($8,013) ($295) ($869) Hospitality costs 14,746 − − Entertainment costs − (758) − Operating costs − − 792 Total operating expenses 14,746 (758) 792 Operating EBITDA $6,733 ($1,053)
Slide 23: Asset-Based Value Components
ASSET-BASED VALUE COMPONENTS + Cash, Restricted Cash, & Cash Equivalents $127.0 $127.0 $127.0 $127.0 $127.0 1,2 Seaport Neighborhood Square Feet 514 514 514 514 514 Hypothetical Per Square Foot Valuations $350.00 $500.00 $650.00 $800.00 $950.00 + Total Seaport Neighborhood $179.9 $257.0 $334.1 $411.
Slide 24: Contact Information
CONTACT INFORMATION CORPORATE OFFICE 199 Water Street New York, NY 10038 INVESTOR RELATIONS (212) 732-8257 ir@seaportentertainment.com TRANSFER AGENT Fidelity Stock TransferSM (FST) (833) 500-1036 nb.fidelity.com NYSE Ticker Symbol: SEG www.seaportentertainment.com 24
Slide 25: Safe Harbor
SAFE HARBOR This presentation and accompanying statements contain forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical facts or relating to present facts or current conditions included in this presentation are forward-looking stat
Slide 26: Key Terms and References
KEY TERMS AND REFERENCES References and terms used in this presentation that are in addition to the terms defined in the Safe Harbor section of this presentation, or not already defined in other areas of this presentation, include: This presentation was published on August 5, 2026. All information i
Slide 27: Seaport Entertainment Group
SEAPORT erie
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