Seritage Growth Properties (SRG-PA) Financials

NYSE:SRG-PA

Market Cap

2.27B

Total Revenue

107.06M

Gross Profit

41.34M

Operating Income

-81.74M

Net Income

-120.10M

Metric	2015	2016	2017	2018	2019	2020	2021	2022
revenue	113,571,000	248,674,000	241,017,000	214,754,000	168,633,000	116,495,000	116,683,000	107,055,000
costOfRevenue	6,329,000	65,191,000	65,353,000	71,151,000	80,718,000	77,932,000	80,263,000	65,720,000
grossProfit	107,242,000	183,483,000	175,664,000	143,603,000	87,915,000	38,563,000	36,420,000	41,335,000
researchAndDevelopmentExpenses	--	--	--	--	--	--	--	--
sellingAndMarketingExpenses	--	--	--	--	--	--	--	--
generalAndAdministrativeExpenses	32,311,000	17,469,000	27,902,000	34,788,000	39,156,000	28,849,000	41,949,000	47,634,000
sellingGeneralAndAdministrativeExpenses	32,311,000	17,469,000	27,902,000	34,788,000	39,156,000	28,849,000	41,949,000	47,634,000
operatingExpenses	116,615,000	194,857,000	290,231,000	261,720,000	143,737,000	124,846,000	93,148,000	88,748,000
operatingIncome	-9,373,000	-30,447,000	-114,567,000	-118,117,000	-66,992,000	-85,843,000	-56,669,000	-81,740,000
totalOtherIncomeExpensesNet	-28,486,000	-15,805,000	63,260,000	85,694,000	-23,415,000	-66,869,000	17,880,000	-37,891,000
ebitda	17,072,000	170,657,000	200,995,000	105,996,000	37,589,000	10,154,000	-5,470,000	-40,626,000
depreciationAndAmortization	65,907,000	177,119,000	262,171,000	226,675,000	104,581,000	95,997,000	51,199,000	41,114,000
interestIncome	--	266,000	877,000	7,886,000	6,824,000	3,394,000	9,285,000	37,753,000
interestExpense	-25,553,000	63,591,000	70,112,000	90,020,000	94,519,000	91,316,000	107,975,000	86,730,000
incomeBeforeTax	-37,859,000	-90,504,000	-120,542,000	-114,557,000	-90,407,000	-152,712,000	-38,789,000	-119,631,000
incomeTaxExpense	-944,000	505,000	271,000	321,000	196,000	252,000	196,000	466,000
netIncome	-22,338,000	-51,558,000	-73,754,000	-73,472,000	-90,603,000	-152,964,000	-38,985,000	-120,097,000
eps	-0.71	-1.64	-2.18	-2.07	-2.49	-3.99	-0.92	-2.42
epsdiluted	-0.71	-1.64	-2.18	-2.07	-2.49	-3.99	-0.92	-2.42
weightedAverageShsOut	31,386,000	31,416,000	33,804,000	35,560,000	36,413,000	38,298,000	42,393,000	49,729,000
weightedAverageShsOutDil	31,386,000	31,416,000	33,804,000	35,560,000	36,413,000	38,298,000	42,393,000	49,729,000
costAndExpenses	122,944,000	260,048,000	355,584,000	332,871,000	224,455,000	202,778,000	173,411,000	154,468,000
otherExpenses	84,304,000	177,388,000	262,329,000	226,932,000	104,581,000	95,997,000	51,199,000	41,114,000

Key Facts

Industry

REIT—Retail

Sector

Real Estate

Headquarters

New York, NY, US

Website

seritage.com

CEO

Ms. Andrea L. Olshan

Employees

About the Company

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 166 wholly-owned properties and 29 unconsolidated properties totaling approximately 30.4 million square feet of space across 44 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015. The Company's mission is to create and own revitalized shopping, dining, entertainment and mixed-use destinations that provide enriched experiences for consumers and local communities, and create long-term value for our shareholders.