Brandywine Q1 net loss $16.7M, FFO $0.24; narrows 2024 FFO guidance to $0.90-$0.97

BRANDYWINE OPERATING PARTNERSHIP, L.P.

Net loss allocated to common shares of ($16.7M) or ($0.10) per diluted share vs. ($5.3M) loss in Q1 2023.
FFO of $41.2M ($0.24/diluted share) vs. $50.8M ($0.29) YoY; FFO payout ratio 62.5%.
Core portfolio 87.7% occupied, 89.0% leased; same-store NOI up 1.9% accrual, 5.3% cash.
Issued $400M 8.875% unsecured notes due 2029; net proceeds to retire $335M 4.10% notes due Oct 2024.
Narrowed 2024 FFO guidance to $0.90-$0.97 per share (from $0.90-$1.00); loss per share $(0.36)-$(0.29).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BRANDYWINE OPERATING PARTNERSHIP, L.P. reported three months ended March 31, 2024 results: net income ($16.7) million, EPS ($0.10) per share.

Period: three months ended March 31, 2024
Net income: ($16.7) million
EPS: ($0.10) per share
Result: reported results

Exact text from the filing

Net loss allocated to common shareholders: ($16.7) million, or ($0.10) per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BRANDYWINE OPERATING PARTNERSHIP, L.P. reported 2024 results: EPS $(0.36) - $(0.29) per share.

Period: 2024
EPS: $(0.36) - $(0.29) per share
Result: guidance update

Exact text from the filing

we are adjusting our 2024 loss per share guidance from $(0.36) - $(0.26) to $(0.36) - $(0.29) per share and 2024 narrowing our FFO guidance from $0.90 - $1.00 to $0.90 - $0.97 per diluted share.

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Source: SEC EDGAR

accession 0000790816-24-000017

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