Seritage Q1 net loss $20.2M; sold $80M assets YTD, repaid $80M debt

Seritage Growth Properties

2024-Q1 EPS reported -$0.36 revenue$5,773,000

Net loss of $20.2M ($0.36 diluted EPS) in Q1 2024; Total NOI of $2.1M.
Sold $48.8M in Q1 and $31.8M after quarter end; $80M total YTD.
Repaid $30M on term loan in Q1 and $50M after quarter end; balance now $280M.
Cash on hand $130.8M at March 31; $102.4M at May 7, 2024.
No common dividends expected until term loan repaid; preferred dividend of $0.4375 declared.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Seritage Growth Properties reported the three months ended March 31, 2024 results: net income ($20.2) million, EPS ($0.36) per share.

Period: the three months ended March 31, 2024
Net income: ($20.2) million
EPS: ($0.36) per share
Result: reported results

Exact text from the filing

On May 10, 2024, the Company issued a press release regarding its financial results for the three months ended March 31, 2024.

View on SEC.gov

1349 earnings releases filed in the last 30 days. Browse all earnings releases →

Seritage Growth Properties filing history →

Source: SEC EDGAR

accession 0000950170-24-057882

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