Seritage Growth Properties Past Earnings Performance

Past criteria checks 0/6

Seritage Growth Properties's earnings have been declining at an average annual rate of -2.9%, while the Real Estate industry saw earnings growing at 19.9% annually. Revenues have been declining at an average rate of 29.7% per year.

Key information

-2.9%

Earnings growth rate

6.6%

EPS growth rate

Real Estate Industry Growth	27.7%
Revenue growth rate	-29.7%
Return on equity	-27.5%
Net Margin	-867.5%
Last Earnings Update	31 Dec 2023

Recent past performance updates

Recent updates

Seritage Growth Properties surges on filing prelim proxy materials for Plan of Sale

Jul 08

Health Check: How Prudently Does Seritage Growth Properties (NYSE:SRG) Use Debt?

Jun 13

Seritage: Berkshire Is Not Taking A Haircut Here

Jun 13

Seritage: Special Situation Opportunity Happening Now With 'Near Term' Shareholder Value Creation To Follow

Apr 22

Seritage: Well Priced For 0% Returns

Jan 21

Seritage Growth Properties: Significant Monetization Activities, A Path To Positive Cash From Operations, And A Massively Undervalued Asset Base - Shares Could Double

Nov 18

Seritage: SNO Rents Drop 67% From 2019

Nov 03

Seritage: NOI Now Down 84% From IPO

Aug 10

Seritage Growth Properties: A Glimpse Of Its Value

Jun 28

Seritage Growth Properties (SRG) Presents At REITweek 2021 Investor Virtual Conference - Slideshow

Jun 15

Avoid Seritage Growth Properties Despite Discount To NAV

May 07

What Type Of Returns Would Seritage Growth Properties'(NYSE:SRG) Shareholders Have Earned If They Purchased Their SharesFive Years Ago?

Mar 15

Have Insiders Been Selling Seritage Growth Properties (NYSE:SRG) Shares?

Jan 19

Seritage Growth Properties' Management Is Leaving: Maybe You Should, Too

Jan 04

Seritage: World Of Hurt

Dec 30

Seritage CEO will leave company in January for another opportunity

Dec 10

What We Learned About Seritage Growth Properties' (NYSE:SRG) CEO Pay

Nov 27

Seritage appoints internal candidate as new CFO

Nov 10

Revenue & Expenses Breakdown
Beta

How Seritage Growth Properties makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:SRG Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	18	-160	46
30 Sep 23	28	-71	47
30 Jun 23	46	-74	50
31 Mar 23	70	-89	51
31 Dec 22	73	-79	48
30 Sep 22	79	-98	41
30 Jun 22	78	-115	39
31 Mar 22	75	-78	40
31 Dec 21	107	-33	42
30 Sep 21	105	-140	32
30 Jun 21	115	-170	34
31 Mar 21	109	-97	31
31 Dec 20	112	-110	29
30 Sep 20	119	-100	42
30 Jun 20	128	-61	39
31 Mar 20	138	-78	39
31 Dec 19	151	-64	39
30 Sep 19	169	-94	36
30 Jun 19	182	-106	36
31 Mar 19	198	-96	37
31 Dec 18	204	-78	35
30 Sep 18	203	-66	36
30 Jun 18	209	-32	33
31 Mar 18	218	-45	30
31 Dec 17	233	-74	28
30 Sep 17	249	-46	21
30 Jun 17	248	-77	20
31 Mar 17	255	-63	20
31 Dec 16	253	-52	18
31 Mar 16	234	-52	23
31 Dec 15	237	-45	20
31 Dec 14	273	-4	4

Quality Earnings: SRG is currently unprofitable.

Growing Profit Margin: SRG is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: SRG is unprofitable, and losses have increased over the past 5 years at a rate of 2.9% per year.

Accelerating Growth: Unable to compare SRG's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SRG is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-3.8%).

Return on Equity

High ROE: SRG has a negative Return on Equity (-27.51%), as it is currently unprofitable.

Return on Assets

Return on Capital Employed

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Seritage Growth Properties Past Earnings Performance

Past criteria checks 0/6

Key information

Recent past performance updates

Third quarter 2023 earnings released: US$0.038 loss per share (vs US$0.084 loss in 3Q 2022)

Seritage Growth Properties Announces Impairment on Development Property in Aventura, Florida for the Quarter Ended June 30, 2023

First quarter 2023 earnings released: US$1.13 loss per share (vs US$1.23 loss in 1Q 2022)

Full year 2022 earnings released: US$1.59 loss per share (vs US$0.78 loss in FY 2021)

Third quarter 2022 earnings released: US$0.084 loss per share (vs US$0.50 loss in 3Q 2021)

Second quarter 2022 earnings released: US$2.56 loss per share (vs US$1.73 loss in 2Q 2021)

Recent updates

Seritage Growth Properties, Annual General Meeting, Jun 05, 2024

Seritage Growth Properties announced delayed annual 10-K filing

Insider recently sold US$1.8m worth of stock

Insider recently sold US$2.7m worth of stock

Seritage Preferreds Offer Tempting Potential 12.86% Yield To Maturity

Insider recently sold US$659k worth of stock

Insider recently sold US$881k worth of stock

Insider recently sold US$417k worth of stock

Insider recently sold US$542k worth of stock

Seritage: Intriguing Assets And Fascinating CEO

Third quarter 2023 earnings released: US$0.038 loss per share (vs US$0.084 loss in 3Q 2022)

Price target decreased by 14% to US$12.00

High number of new directors

An unknown buyer acquired Two vacant / non-income producing Non-Core assets of Seritage Growth Properties for $6.2 million.

Seritage: Nearing The Finish Line

Seritage Growth Properties Announces Impairment on Development Property in Aventura, Florida for the Quarter Ended June 30, 2023

Seritage Growth Properties announced delayed 10-Q filing

The Macerich Company (NYSE:MAC) acquired the remaining 50% stakes in 5 Former Sears Boxes from Seritage Growth Properties (NYSE:SRG).

Is Seritage Growth Properties (NYSE:SRG) Weighed On By Its Debt Load?

Four Corners Property Trust, Inc. (NYSE:FCPT) acquired Outback Steakhouse and Hook & Reel property from Seritage Growth Properties (NYSE:SRG) for $5.2 million.

First quarter 2023 earnings released: US$1.13 loss per share (vs US$1.23 loss in 1Q 2022)

Full year 2022 earnings released: US$1.59 loss per share (vs US$0.78 loss in FY 2021)

Seritage Growth Properties reduces outstanding debt to $800M

Insider recently sold US$5.1m worth of stock

Seritage Growth Properties, Annual General Meeting, Jun 06, 2023

Insider recently sold US$3.2m worth of stock

Insider recently sold US$74k worth of stock

Four Corners Property Trust, Inc. (NYSE:FCPT) acquires Chili's Property in Florida from Seritage Growth Properties (NYSE:SRG) for $2.6 million.

Four Corners Property Trust, Inc. (NYSE:FCPT) completed the acquisition of portfolio of 23 outparcel properties from Seritage Growth Properties (NYSE:SRG) for $71 million.

Insider recently sold US$1.1m worth of stock

High number of new directors

Seritage Growth Properties: Buy $20 For Less Than $12

Third quarter 2022 earnings released: US$0.084 loss per share (vs US$0.50 loss in 3Q 2021)

O'Keefe Stevens - Seritage Growth Properties: A Good Idea On Paper

BH Group and Electra America, Inc. acquired 193,422-square-foot former Sears store at 20701 Allapattah Road from Seritage Growth Properties (NYSE:SRG) for $34 million.

Four Corners Property Trust, Inc. (NYSE:FCPT) acquired Torchy Tacos property from Seritage Growth Properties (NYSE:SRG) fro $2.2 million.

Insider recently sold US$3.7m worth of stock

Seritage Growth Properties prepays $70M loan

Insider recently sold US$779k worth of stock

Seritage: Bears Beat Back Bold Bulls

Seritage Growth Properties, Annual General Meeting, Oct 24, 2022

Second quarter 2022 earnings released: US$2.56 loss per share (vs US$1.73 loss in 2Q 2021)

Seritage Growth Properties Announces Impairment of Real Estate Assets for the Second Quarter Ended June 30, 2022

Seritage Growth Properties prepays $100M toward $1.6B term loan facility

Seritage Growth Properties Appoints Adam Metz as Chairman of the Board of Trustees

Seritage Growth Properties surges on filing prelim proxy materials for Plan of Sale

Health Check: How Prudently Does Seritage Growth Properties (NYSE:SRG) Use Debt?

Seritage: Berkshire Is Not Taking A Haircut Here

High number of new directors

Seritage Growth Properties Reports Impairment Charges for the First Quarter Ended March 31, 2022

First quarter 2022 earnings released: US$1.23 loss per share (vs US$0.23 loss in 1Q 2021)

High number of new directors

Seritage: Special Situation Opportunity Happening Now With 'Near Term' Shareholder Value Creation To Follow

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Seritage: Well Priced For 0% Returns

Four Corners Property Trust, Inc. (NYSE:FCPT) acquired Portillo's Restaurant Property in Wisconsin from Seritage Growth Properties (NYSE:SRG) for $3.3 million

Fuqua Development, LP acquired Kmart property in St. Pete, Florida from Seritage Growth Properties (NYSE:SRG) for $6 million.

Seritage Growth Properties: Significant Monetization Activities, A Path To Positive Cash From Operations, And A Massively Undervalued Asset Base - Shares Could Double

Third quarter 2021 earnings released: US$0.50 loss per share (vs US$1.33 loss in 3Q 2020)

Seritage: SNO Rents Drop 67% From 2019

Second quarter 2021 earnings released: US$1.73 loss per share (vs US$0.03 loss in 2Q 2020)

Seritage: NOI Now Down 84% From IPO

Four Corners Property Trust, Inc. (NYSE:FCPT) completed the acquisition of portfolio of 23 outparcel properties from Seritage Growth Properties (NYSE:SRG) for $71 million.

Seritage Growth Properties: A Glimpse Of Its Value

Seritage Growth Properties (SRG) Presents At REITweek 2021 Investor Virtual Conference - Slideshow

Avoid Seritage Growth Properties Despite Discount To NAV

First quarter 2021 earnings released: US$0.48 FFO loss per share (vs US$0.48 loss in 1Q 2020)

Seritage Growth Properties Announces Impairment of Real Estate Assets for the First Quarter Ended March 31, 2021

Independent Trustee recently bought US$98k worth of stock

Revenue & Expenses Breakdown
Beta