Seritage Growth Properties (SRG)

SRG Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	15.79	17.06	15.06	104.61	115.65	116.2
Property Management Fees	0.66	0.57	5.72	2.45	1.03	0.29
Other Revenue	-19.86	-3.05	-2.36	-34.18	-9.23	-4.71
Total Revenue	-3.41	14.57	18.42	72.88	107.46	111.78
Revenue Growth (YoY	-	-20.92%	-74.72%	-32.18%	-3.87%	-25.79%
Property Expenses	24.8	26.01	27.41	65.72	80.26	77.93
Selling, General & Administrative	36.52	30.02	45.99	47.63	41.95	28.85
Depreciation & Amortization	9.92	13.12	14.47	41.11	51.2	96
Total Operating Expenses	71.25	69.15	87.87	154.47	173.41	202.78
Operating Income	-74.66	-54.58	-69.45	-81.59	-65.95	-91
Interest Expense	-23.19	-24.97	-44.57	-86.73	-107.98	-91.32
Interest & Investment Income	1.95	2.51	17.07	37.75	9.29	3.39
EBT Excluding Unusual Items	-95.9	-77.04	-96.95	-130.57	-164.64	-178.92
Gain (Loss) on Sale of Investments	10.44	1.94	-47.09	-38.58	-	1.76
Gain (Loss) on Sale of Assets	16.48	10.68	96.21	211.94	221.68	88.56
Asset Writedown	-86.39	-87.54	-107.04	-126.89	-95.83	-64.11
Total Legal Settlements	-	-	-	-35.53	-	-
Pretax Income	-155.37	-151.95	-154.87	-119.63	-38.79	-152.71
Income Tax Expense	1.38	1.58	0.04	0.47	0.2	0.25
Earnings From Continuing Operations	-156.75	-153.54	-154.91	-120.1	-38.99	-152.96
Minority Interest in Earnings	-	-	-	46.15	10.84	47.94
Net Income	-156.75	-153.54	-154.91	-73.95	-28.15	-105.03
Preferred Dividends & Other Adjustments	4.9	4.9	4.9	4.9	4.9	4.9
Net Income to Common	-161.65	-158.44	-159.81	-78.85	-33.05	-109.93
Basic Shares Outstanding	56	56	56	50	42	38
Diluted Shares Outstanding	56	56	56	50	42	38
Shares Change (YoY)	0.15%	0.18%	12.91%	17.30%	10.69%	5.18%
EPS (Basic)	-2.87	-2.82	-2.85	-1.59	-0.78	-2.87
EPS (Diluted)	-2.88	-2.82	-2.85	-1.59	-0.78	-2.87
Operating Margin	-	-374.64%	-376.98%	-111.96%	-61.38%	-81.40%
Profit Margin	-	-1087.56%	-867.50%	-108.19%	-30.76%	-98.34%
EBITDA	-64.54	-41.27	-54.8	-40.26	-14.58	3.21
EBITDA Margin	-	-283.29%	-297.47%	-55.24%	-13.57%	2.87%
D&A For Ebitda	10.12	13.31	14.65	41.34	51.38	94.2
EBIT	-74.66	-54.58	-69.45	-81.59	-65.95	-91
EBIT Margin	-	-	-	-111.96%	-61.38%	-81.40%
Revenue as Reported	16.45	17.62	20.78	107.06	116.68	116.5

Updated Mar 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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