Seritage Growth Properties
NYSE:SRG
Income Statement
Earnings Waterfall
Seritage Growth Properties
Revenue
|
34.6m
USD
|
Cost of Revenue
|
-36m
USD
|
Gross Profit
|
-1.4m
USD
|
Operating Expenses
|
-68m
USD
|
Operating Income
|
-69.4m
USD
|
Other Expenses
|
-1.7m
USD
|
Net Income
|
-71m
USD
|
Income Statement
Seritage Growth Properties
Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | |||||||||||||||||||||||||||||||
Revenue |
238
N/A
|
242
+1%
|
249
+3%
|
251
+1%
|
247
-2%
|
254
+3%
|
241
-5%
|
229
-5%
|
221
-4%
|
213
-3%
|
215
+1%
|
205
-5%
|
196
-4%
|
187
-5%
|
169
-10%
|
158
-6%
|
139
-12%
|
125
-10%
|
117
-7%
|
114
-2%
|
121
+5%
|
116
-4%
|
117
+1%
|
116
0%
|
118
+2%
|
113
-5%
|
107
-5%
|
77
-28%
|
53
-31%
|
35
-35%
|
|
Gross Profit | |||||||||||||||||||||||||||||||
Cost of Revenue |
(65)
|
(63)
|
(65)
|
(64)
|
(63)
|
(67)
|
(65)
|
(67)
|
(66)
|
(69)
|
(71)
|
(73)
|
(77)
|
(79)
|
(81)
|
(80)
|
(78)
|
(78)
|
(78)
|
(79)
|
(81)
|
(81)
|
(80)
|
(79)
|
(76)
|
(72)
|
(66)
|
(56)
|
(46)
|
(36)
|
|
Gross Profit |
174
N/A
|
179
+3%
|
184
+3%
|
187
+2%
|
184
-2%
|
187
+2%
|
176
-6%
|
163
-7%
|
155
-5%
|
145
-7%
|
144
-1%
|
132
-8%
|
119
-9%
|
108
-9%
|
88
-19%
|
78
-11%
|
61
-22%
|
47
-23%
|
39
-18%
|
35
-9%
|
39
+11%
|
35
-11%
|
36
+4%
|
38
+3%
|
43
+13%
|
41
-4%
|
41
+1%
|
21
-50%
|
7
-68%
|
(1)
N/A
|
|
Operating Income | |||||||||||||||||||||||||||||||
Operating Expenses |
(162)
|
(172)
|
(195)
|
(216)
|
(230)
|
(247)
|
(290)
|
(207)
|
(210)
|
(246)
|
(262)
|
(255)
|
(225)
|
(197)
|
(144)
|
(151)
|
(155)
|
(160)
|
(125)
|
(106)
|
(99)
|
(86)
|
(93)
|
(90)
|
(86)
|
(84)
|
(89)
|
(85)
|
(77)
|
(68)
|
|
Selling, General & Administrative |
(19)
|
(18)
|
(18)
|
(20)
|
(20)
|
(21)
|
(28)
|
(30)
|
(33)
|
(36)
|
(35)
|
(37)
|
(36)
|
(36)
|
(39)
|
(39)
|
(39)
|
(42)
|
(29)
|
(31)
|
(34)
|
(32)
|
(42)
|
(40)
|
(39)
|
(41)
|
(48)
|
(51)
|
(50)
|
(47)
|
|
Depreciation & Amortization |
(143)
|
(154)
|
(177)
|
(196)
|
(210)
|
(226)
|
(262)
|
(238)
|
(237)
|
(226)
|
(227)
|
(218)
|
(189)
|
(161)
|
(105)
|
(112)
|
(116)
|
(118)
|
(96)
|
(75)
|
(65)
|
(54)
|
(51)
|
(50)
|
(47)
|
(43)
|
(41)
|
(34)
|
(27)
|
(21)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
60
|
60
|
17
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
12
N/A
|
7
-45%
|
(11)
N/A
|
(29)
-153%
|
(46)
-61%
|
(60)
-31%
|
(115)
-90%
|
(45)
+61%
|
(55)
-23%
|
(101)
-83%
|
(118)
-17%
|
(123)
-4%
|
(106)
+14%
|
(88)
+17%
|
(56)
+37%
|
(73)
-31%
|
(94)
-29%
|
(113)
-20%
|
(86)
+24%
|
(70)
+18%
|
(60)
+15%
|
(51)
+15%
|
(57)
-12%
|
(52)
+8%
|
(44)
+16%
|
(43)
+1%
|
(47)
-10%
|
(64)
-35%
|
(70)
-10%
|
(69)
+1%
|
|
Pre-Tax Income | |||||||||||||||||||||||||||||||
Interest Income Expense |
(54)
|
(56)
|
(59)
|
(61)
|
(66)
|
(73)
|
(77)
|
(80)
|
(79)
|
(90)
|
(93)
|
(94)
|
(104)
|
(99)
|
(106)
|
(108)
|
(102)
|
(96)
|
(93)
|
(90)
|
(98)
|
(109)
|
(108)
|
(144)
|
(169)
|
(162)
|
(121)
|
(111)
|
(64)
|
(47)
|
|
Non-Reccuring Items |
(18)
|
(19)
|
(19)
|
(19)
|
(19)
|
44
|
60
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(15)
|
(62)
|
(62)
|
(127)
|
(116)
|
(96)
|
(95)
|
(175)
|
(182)
|
(163)
|
(165)
|
(125)
|
(114)
|
|
Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
13
|
11
|
53
|
87
|
92
|
96
|
76
|
53
|
48
|
71
|
71
|
111
|
84
|
89
|
90
|
56
|
94
|
222
|
196
|
246
|
269
|
212
|
225
|
191
|
164
|
|
Total Other Income |
(5)
|
(2)
|
(1)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Pre-Tax Income |
(65)
N/A
|
(71)
-9%
|
(91)
-28%
|
(109)
-20%
|
(131)
-21%
|
(77)
+42%
|
(121)
-57%
|
(72)
+41%
|
(47)
+34%
|
(99)
-110%
|
(115)
-16%
|
(142)
-24%
|
(157)
-11%
|
(139)
+12%
|
(90)
+35%
|
(111)
-22%
|
(85)
+23%
|
(140)
-66%
|
(153)
-9%
|
(133)
+13%
|
(228)
-72%
|
(182)
+20%
|
(39)
+79%
|
(95)
-144%
|
(142)
-50%
|
(119)
+16%
|
(120)
-1%
|
(115)
+4%
|
(69)
+40%
|
(66)
+4%
|
|
Net Income | |||||||||||||||||||||||||||||||
Tax Provision |
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
|
Income from Continuing Operations |
(66)
|
(71)
|
(91)
|
(109)
|
(131)
|
(77)
|
(121)
|
(72)
|
(48)
|
(100)
|
(115)
|
(142)
|
(157)
|
(139)
|
(91)
|
(111)
|
(85)
|
(141)
|
(153)
|
(133)
|
(228)
|
(182)
|
(39)
|
(95)
|
(142)
|
(119)
|
(120)
|
(115)
|
(69)
|
(66)
|
|
Income to Minority Interest |
28
|
31
|
40
|
46
|
54
|
31
|
47
|
28
|
18
|
38
|
41
|
51
|
56
|
49
|
31
|
38
|
29
|
45
|
48
|
41
|
63
|
47
|
11
|
22
|
31
|
25
|
46
|
31
|
0
|
0
|
|
Net Income (Common) |
(38)
N/A
|
(41)
-7%
|
(52)
-27%
|
(63)
-22%
|
(77)
-22%
|
(46)
+41%
|
(74)
-62%
|
(45)
+39%
|
(32)
+29%
|
(66)
-107%
|
(78)
-19%
|
(96)
-22%
|
(106)
-11%
|
(94)
+11%
|
(64)
+32%
|
(78)
-21%
|
(61)
+22%
|
(100)
-64%
|
(110)
-10%
|
(97)
+12%
|
(170)
-75%
|
(140)
+17%
|
(33)
+76%
|
(78)
-135%
|
(115)
-49%
|
(98)
+15%
|
(79)
+20%
|
(89)
-12%
|
(74)
+17%
|
(71)
+3%
|