Douglas Emmett Q1 revenue up 5.7% to $252.4M, FFO down 5% amid higher interest costs

Douglas Emmett Inc

2023-Q1 EPS reported $0.10 revenue$252,393,000

Net income fell 28% to $18.4M ($0.10 diluted EPS); FFO $98.6M ($0.47), down 5% YoY.
Same-property cash NOI -1.5% to $148.8M; office occupancy guidance cut to 81-83%.
Repurchased 6M shares at avg $12.32; quarterly dividend maintained at $0.19/share.
Leasing: 235 office leases (625k sf); straight-line rents +6%, cash rents -6.7%.
Full year FFO guidance unchanged at $1.87-$1.93/share; net income guidance $0.35-$0.41.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Douglas Emmett Inc reported the quarter ended March 31, 2023 results: revenue $252.4 million, net income $18.4 million, or $0.10 per diluted share. Guidance lowered.

Period: the quarter ended March 31, 2023
Revenue: $252.4 million
Net income: $18.4 million, or $0.10 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

submarkets of Los Angeles and Honolulu. Quarterly Results: For the quarter ended March 31, 2023 compared to the quarter ended March 31, 2022: • Our revenues increased by 5.7% to $252.4 million, reflecting the addition of new units to our multifamily portfolio, which increased by 617 units, and higher in-place office and multifamily rental rates. • Our net income

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Source: SEC EDGAR

accession 0001364250-23-000029

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