Earnings Releases·Nov 13, 2026, 4:51 PM ET

Seritage Growth Properties — Third Quarter 2026 Earnings Summary

Reported net income of $2.7 million ($0.05/share) for Q3 2026, a significant turnaround from a $13.6 million loss in the prior year period; however, nine-month net loss narrowed to $36.2 million from $66.8 million previously.
Revenue declined to $1.6 million for Q3 and $5.6 million for the nine months ended September 30, 2026, down from $4.8 million and $14.0 million respectively in the prior year, driven by asset dispositions and market conditions.
Executed a debt restructuring in July 2026 by drawing $15.0 million on a new revolving facility to fully repay a $50.0 million term loan; total liabilities decreased to $38.7 million as of September 30, 2026.
Entered a purchase agreement to sell a Dallas premier asset for anticipated gross proceeds of $50.8 million and generated $3.0 million from a Q3 asset sale, though no new transactions are currently under contract.
Management warns that elevated interest rates, limited capital availability, and ongoing litigation may continue to adversely impact sale proceeds, distribution timing, and asset valuations.