secwatch.observer — SEC 8-K summary
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Issuer:     Hudson Pacific Properties, Inc. (HPP)
CIK:        0001482512
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001482512-23-000095
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hudson Pacific Q1 net loss $20.4M, FFO down 35%; cuts dividend 40-50%; withdraws FFO guidance due to writers strike
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- Net loss attributable to common stockholders of $20.4M ($0.14/diluted) vs $19.8M loss in Q1 2022.
- FFO (excl. specified items) $49.7M ($0.35/diluted), down 34% YoY from $75.2M ($0.50).
- Revenue $252.3M, up 3.2% driven by Quixote acquisition; March production slowed by writers strike.
- Board approved 40-50% common dividend reduction; exact amount to be determined later in May.
- Withdrew 2023 FFO guidance citing WGA strike uncertainty; office same-store cash NOI growth 1-2% reaffirmed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1482512/000148251223000095/0001482512-23-000095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1482512/000148251223000095/hpp-20230508.htm
  HTML page:      https://secwatch.observer/filing/0001482512-23-000095

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