Seaport Entertainment Group Inc. (SEG) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Seaport Entertainment Group's first quarter 2026 earnings conference call. At this time, all participants are in listen-only mode. A question and answer session will follow today's formal presentation. And as a reminder, today's call is being recorded. I would now like to turn the call over to Jason Wilk, Senior Vice President of Finance. Please go ahead. Thank you, Operator. And good morning, everyone. With me today is our President and Chief Executive Officer, Matt Partridge, and our Chief Financial Officer and Treasurer, Lena Eliwot. Before we begin, I'd like to remind everyone that many of our comments today are considered forward-looking statements under federal securities law. The company's actual future results may differ significantly from the matters discussed in these forward-looking statements, and we undertake no duty to update these statements. Factors and risks that could cause actual results to differ materially from expectations are disclosed from time to time in greater detail in the company's Form 10-K, Form 10-Q, and other SEC filings. You can find our SEC reports, earnings release, and quarterly supplemental information on our website at seaportentertainment.com. With that, I will turn the call over to Matt. Thanks, Jason, and good morning, everyone. Let's start with the headline items from the first four months of 2026, some of which we discussed during our previous earnings call in March, but are still incredibly important accomplishments as we continue to position the organization as a scalable, real estate-centric hospitality and entertainment company. To start the year, we completed the sale of 250 Water Street, generating more than $75 million of liquidity and eliminating ongoing carry costs. We leased the tin bui...