Hudson Pacific Q2 net loss $36.2M, FFO ex-items $0.24; strike suspends full-year guidance

Hudson Pacific Properties, Inc.

2023-Q2 EPS reported -$0.40 revenue$497,431,000

Total revenue $245.2M (down 2.5% YoY); net loss $36.2M ($0.26 diluted) vs loss $7.4M ($0.05) in Q2 2022.
FFO ex-items $34.5M ($0.24 diluted), down from $74.6M ($0.51); AFFO $31.1M ($0.22), down from $60.3M ($0.41).
Same-store office cash NOI $127.6M (+4.7% YoY); in-service office 85.2% occupied, 87.0% leased.
Executed 403,231 sq ft of leases, including 56k sq ft Rivian renewal; studio stages 95.7% leased (T12).
CEO warns of expanded entertainment strike (WGA+SAG-AFTRA); full-year FFO guidance not reinstated; $581.2M liquidity.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hudson Pacific Properties, Inc. reported second quarter 2023 results: revenue $245.2 million, net income Net loss attributable to common stockholders of $36.2 million, or $0.26 per diluted share.

Period: second quarter 2023
Revenue: $245.2 million
Net income: Net loss attributable to common stockholders of $36.2 million, or $0.26 per diluted share
Result: reported results

Exact text from the filing

overcome today’s challenges and capitalize on longer-term tenant activity within our attractive portfolio." Financial Results Compared to Second Quarter 2022 • Total revenue of $245.2 million compared to $251.4 million, primarily due to previously communicated vacancies at Skyport Plaza and 10900-10950 Washington and the sales of 6922 Hollywood and Skyway Landing •

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Source: SEC EDGAR

accession 0001482512-23-000143

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