CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Seaport Entertainment Q3 revenue falls on weather-related headwinds

By Reuters News


Overview

  • US entertainment and hospitality firm's Q3 revenue fell 27% yr/yr due to weather impacts

  • Net loss attributable to common stockholders narrowed 75% yr/yr in Q3

  • Non-GAAP adjusted net loss per share improved nearly 60% from prior year


Outlook

  • Company did not provide specific financial guidance for upcoming quarters or full year in its press release


Result Drivers

  • WEATHER IMPACT - Co said weather-related headwinds in Las Vegas and New York City affected Q3 results

  • NEW TENANTS AND CONCEPTS - Co highlighted over 160,000 square feet of new tenants and concepts signed but not yet opened as part of its pipeline to drive future visitation

  • BALLOON MUSEUM OPENING - Co said the Balloon Museum at the Tin Building opened to a strong reception in August


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted Net Loss

Miss

$3 mln

$599,000 (1 Analyst)

Q3 Net Loss Attributable to Common Stockholders

$8.4 mln

Q3 Operating Income

-$9.22 mln

Q3 Pretax Loss

$8.03 mln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the leisure & recreation peer group is "buy"

  • Wall Street's median 12-month price target for Seaport Entertainment Group Inc is $36.00, about 58.1% above its November 3 closing price of $22.77


Reuters Recommended Reads

  • Nov 4 - Madison Square Garden beats Q1 revenue estimates on more concerts

  • Nov 2 - Marriott tops Q3 revenue, profit estimates

  • Nov 3 - Cinemark Holdings Q3 revenue beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.