Seaport Entertainment Group Inc (MEX:SEG)

Q2 2025 Seaport Entertainment Group Inc Earnings Call Transcript

Aug 12, 2025 / 12:30 PM GMT

Release Date Price: MXN550

Transcript 8-K10-Q

Key Points

Positve

Seaport Entertainment Group Inc (SEG) reported a 1% year-over-year increase in total consolidated revenues for Q2 2025, driven by strong performance in the Entertainment segment.
The Entertainment segment saw a 16% year-over-year revenue increase, benefiting from additional concerts and higher sponsorship and concession revenue.
SEG successfully uplisted from the NYSE American to the New York Stock Exchange and was added to the Russell 2000 and Russell Microcap indexes, potentially improving visibility and trading volume.
The company reported a 95% increase in total operating EBITDA for Q2 2025 compared to Q2 2024 on a pro forma basis, indicating improved operational efficiency.
SEG's balance sheet remains strong with cash and cash equivalents totaling $125 million as of June 30, 2025, and a negative net debt position.

Negative

Hospitality segment revenues declined 15% compared to pro forma Q2 2024, largely due to reduced operating hours and select venue closures at the Tin Building.
Total hospitality revenues, including unconsolidated ventures, decreased 4% year-over-year, indicating challenges in the segment.
Nike exercised an early termination right for their office space at Pier 17, which could impact future rental income.
The absence of the Savannah Bananas event at the Las Vegas ballpark resulted in a year-over-year headwind for non-Aviator events.
SEG reported a net loss attributable to common stockholders of $14.8 million for Q2 2025, despite improvements compared to the previous year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SEG.N - Seaport Entertainment Group Inc
Q2 2025 Seaport Entertainment Group Inc Earnings Call
Aug 12, 2025 / 12:30PM GMT

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Conference Call Participants
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* Matthew Partridge
Seaport Entertainment Group Inc - Chief Financial Officer
* Anton Nikodemus
Seaport Entertainment Group Inc - Chief Executive Officer

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Presentation
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Operator [1]
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Ladies and gentlemen, greetings and welcome to Seaport Entertainment Group second-quarter 2025 earnings call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Matt Partridge, Chief Financial Officer. Go ahead.

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Matthew Partridge, Seaport Entertainment Group Inc - Chief Financial

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