Douglas Emmett Q3 FFO $0.51, rev +6.5%; lowers FY guidance on occupancy, NOI

Douglas Emmett Inc

2022-Q3 EPS reported $0.41 revenue$739,515,000

Revenue $253.7M (+6.5% YoY); net income $23.0M ($0.13 diluted EPS); FFO $105.2M ($0.51/share).
Same property Cash NOI +0.4% to $150.9M; inflation pressured utilities, insurance, third-party costs.
Signed 199 office leases covering 1.019M sq ft; leased-to-occupied spread remains elevated, delaying occupancy growth.
FY 2022 guidance narrowed: office occupancy 84-85%, same property NOI growth 3.5-4.5%, FFO $2.03-$2.05.
Quarterly dividend of $0.28/share paid Oct 18, 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Douglas Emmett Inc reported 2022 full year results: EPS $0.54 - $0.56. Guidance lowered.

Period: 2022 full year
EPS: $0.54 - $0.56
Guidance: lowered
Result: guidance update

Exact text from the filing

As a result, we are narrowing our 2022 full year guidance for Net Income Per Common Share - Diluted to $0.54 - $0.56 and for FFO to $2.03 - $2.05 per fully diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Douglas Emmett Inc reported quarter ended September 30, 2022 results: revenue $253.7 million, net income $23.0 million, EPS $0.13 per diluted share.

Period: quarter ended September 30, 2022
Revenue: $253.7 million
Net income: $23.0 million
EPS: $0.13 per diluted share
Result: reported results

Exact text from the filing

Our revenues increased by 6.5% to $253.7 million. • Our net income attributable to common stockholders increased by 26.5% to $23.0 million, or $0.13 per diluted share.

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Source: SEC EDGAR

accession 0001364250-22-000034

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