Recent Highlights Capital Markets Partnerships & Leasing Food & Beverage Internalization ▪ Hired and onboarded employees of Creative Culinary Management Company LLC ("CCMC"), an indirect wholly owned subsidiary of Jean-Georges Restaurants, and entered into a shared services agreement with CCMC as the Company's initial step to internalize food and beverage operations at most of its wholly owned and joint venture-owned restaurants at the Seaport. 2 ▪ Completed the previously announced separation from predeces ...

Seaport Entertainment (NYSE: SEG ) is set to sell 250 Water Street (250WS), launching the marketing process for the site with broker Jones Lang LaSalle ( JLL ) at the end of March, with roughly 130 expressions of interest received as ofThe equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, high-dividen ...

Exhibit 99.1 SEAPORT ENTERTAINMENT GROUP REPORTS FIRST QUARTER 2025 RESULTS NEW YORK, NY, May 12, 2025 – Seaport Entertainment Group Inc. (NYSE American: SEG) ("Seaport Entertainment Group," "SEG", "we," "our," or the "Company") announced today its operating and financial results for the quarter ended March 31, 2025. Select First Quarter 2025 Results ◾ Net Loss of ($31.9) million, or ($2.51) per basic and diluted share attributable to common stockholders. ◾ Non-GAAP Adjusted Net Loss Attributable to Common ...

Seaport Entertainment Group (SEG) Q1 2025 Earnings Call May 13, 2025 08:30 AM ET Company Participants Matt Partridge - CFO, EVP & TreasurerAnton Nikodemus - CEO, President & Chairman of Board Operator Greetings and welcome to the Seaport Entertainment Group First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Matt Partridge, CFO. Thank you. You may begin. Matt ...

Seaport Entertainment Group (SEG) Q1 2025 Earnings Call May 13, 2025 08:30 AM ET Speaker0 Greetings and welcome to the Seaport Entertainment Group First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Matt Partridge, CFO. Thank you. You may begin. Speaker1 Thank you, operator, and good morning, everyone. Thank you for joining us today for our earnings conference ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-42113 Seaport Entertainment Group Inc. (Exact name of registrant as specified in its charter) (State or other ...

Seaport Entertainment Group (SEG) Q4 2024 Earnings Call March 11, 2025 04:18 PM ET Company Participants Matt Partridge - CFO, EVP & TreasurerAnton Nikodemus - CEO Operator Greetings and welcome to the Seaport Entertainment Group Fourth Quarter twenty twenty four Earnings Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As you may know, this conference is being recorded. It is now my pleasure to introduce your host, Matt Partri ...

Seaport Entertainment Group Inc. (NYSE:SEG) Q4 2024 Earnings Conference Call March 11, 2025 8:30 AM ET Company Participants Matt Partridge - Chief Financial Officer Anton Nikodemus - Chairman, President and Chief Executive Officer Conference Call Participants Operator Greetings, and welcome to the Seaport Entertainment Group Fourth Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] A ...

Financial Performance - Net loss for Q4 2024 was $41.6 million, or $3.63 per share, compared to a net loss of $36.0 million, or $6.52 per share in Q4 2023, representing a 15.6% increase in loss [5] - Total revenues for Q4 2024 were $22.8 million, a slight decrease of 0.3% from $22.9 million in Q4 2023 [7] - For the full year 2024, total revenues were $111.1 million, down 3.9% from $115.7 million in 2023 [8] - The company reported a net loss of $153.2 million for the full year 2024, significantly improved from a net loss of $838.1 million in 2023, marking an 81.7% reduction in loss [8] - Non-GAAP adjusted net loss for Q4 2024 was $19.2 million, a 31.3% improvement from $28.0 million in Q4 2023 [7] - Basic earnings per share attributable to common shareholders for Q4 2024 was $(3.63), an improvement from $(6.52) in Q4 2023 [26] Revenue and Assets - Total revenues for Q4 2024 were $22.844 million, a slight decrease of 0.26% compared to $22.903 million in Q4 2023 [26] - Total assets increased to $743.556 million in 2024, up from $616.813 million in 2023, reflecting a growth of 20.5% [24] - Total liabilities decreased to $172.174 million in 2024, down from $231.920 million in 2023, a reduction of 25.7% [24] - Stockholders' equity rose to $571.382 million in 2024, compared to $384.893 million in 2023, indicating a growth of 48.5% [24] - Hospitality revenue for the twelve months ended December 31, 2024, was $29.528 million, down 10.3% from $32.951 million in 2023 [26] Expenses and Impairments - Depreciation and amortization expenses increased to $34.785 million for the twelve months ended December 31, 2024, compared to $48.432 million in 2023 [26] - The company reported a provision for impairment of $10 million in Q4 2024, compared to $672.492 million for the full year 2023 [26] Strategic Initiatives - The company generated net proceeds of approximately $166.8 million from a rights offering, issuing 7 million shares at $25.00 per share [12] - The company signed a long-term lease for 74,497 square feet with Meow Wolf to open in 2027, enhancing its entertainment offerings [9] - The company extended its programming agreement with Live Nation for five years, effective January 1, 2025, for The Rooftop at Pier 17 [5] - The company is exploring monetization strategies for its 250 Water Street development site, considering options for outright sale or strategic partnerships [2]

Debt and Financial Flexibility - The Refinanced 250 Water Street Term Loan was established to reduce outstanding indebtedness and provide greater financial flexibility[139]. - The company faces restrictions under its debt agreements that may limit operational capabilities and increase refinancing costs[141]. - The company has entered into interest rate hedging contracts to mitigate exposure to interest rate volatility, which carries additional risks[149]. - The company is subject to interest rate risk, particularly with its variable-rate mortgage, which could impact future refinancing efforts[356]. Revenue and Financial Performance - Total revenues for 2024 were $111,136,000, a decrease of 3.5% from $115,678,000 in 2023[372]. - Net loss for 2024 was $152,625,000, compared to a net loss of $838,065,000 in 2023, indicating a significant improvement[372]. - Operating income loss for 2024 was $(101,740,000), an improvement from $(756,406,000) in 2023[372]. - Cash used in operating activities was $(52,700,000) in 2024, slightly higher than $(50,780,000) in 2023[375]. - Total expenses rose to $219,605,000 in 2024, up from $199,625,000 in 2023, primarily due to increased general and administrative costs[372]. - The company reported a basic loss per share of $(16.82) for 2024, compared to $(151.77) for 2023[372]. Assets and Liabilities - Total assets increased to $743.6 million as of December 31, 2024, compared to $616.8 million in 2023, reflecting a growth of approximately 20.5%[369]. - Mortgages payable decreased to $101.6 million in 2024 from $155.6 million in 2023, a reduction of approximately 34.7%[369]. - Total liabilities decreased from $142.5 million to $125.6 million[468]. Compliance and Regulatory Risks - The company is subject to environmental compliance costs, including a requirement for a Remedial Action Work Plan at the 250 Water Street site[158]. - Tax changes and challenges from tax authorities could adversely impact financial results and operational conditions[161]. - The company may face increased compliance costs due to new energy efficiency regulations, particularly in New York City[156]. - Compliance with the Americans with Disabilities Act (ADA) may impose significant costs, potentially affecting the company's financial condition and results of operations[164]. Corporate Structure and Governance - As of December 31, 2024, Pershing Square owns approximately 39.5% of the company's outstanding common stock, which could impact stock price if shares are sold[171]. - The Investor Rights Agreement with Pershing Square allows it to nominate individuals to the board as long as it owns at least 10% of the outstanding shares[206]. - The company is classified as an emerging growth company, which may result in different reporting requirements compared to other public companies[195]. Separation and Transition Costs - The separation from HHH may result in increased costs for corporate functions previously performed by HHH, impacting cash flows and profitability[181]. - The transition of information technology systems from HHH is expected to be complex and costly, with risks of data loss during the process[185]. - Following the Spin-Off, the company is dependent on HHH for critical transition services, which may lead to increased costs or difficulties in finding replacements after the agreement expires[186]. Investments and Impairments - The Company recognized an impairment of $5.0 million related to the Ssäm Bar investment in the year ended December 31, 2023[456]. - The Company recorded a $709.5 million impairment charge in 2023 related to Seaport properties and investments in the Hospitality segment due to decreased future cash flow estimates[472]. - An impairment charge of $10.0 million was recorded in 2024 related to the warrant agreement with Jean-Georges for acquiring an additional 20% interest[473]. Development and Growth - The potential development at 250 Water Street has received approvals for 547,000 zoning square feet of mixed-use space, but further challenges may arise[150]. - Total developments increased to $146.461 million in 2024 from $102.874 million in 2023, representing a 42.3% growth[412]. - Development costs rose significantly to $94.743 million in 2024, up from $51.156 million in 2023, indicating an increase of 85%[412]. Cash Flow and Financing Activities - Cash and cash equivalents significantly increased to $165.7 million in 2024 from $1.8 million in 2023, representing a growth of over 9,000%[369]. - Cash provided by financing activities increased to $279,581,000 in 2024 from $136,214,000 in 2023[375]. - The Company completed a Rights Offering on October 17, 2024, issuing 7.0 million shares at a subscription price of $25.00 per share, generating total gross proceeds of $175.0 million[386].