Hudson Pacific Q1 rev $214M, net loss $0.37/sh; same-store NOI guide -11.75% to -12.75%; dividend $0.05

Hudson Pacific Properties, Inc.

2024-Q1 EPS reported -$0.37 revenue$214,023,000

Q1 revenue $214.0M vs $252.3M YoY; net loss $52.2M ($0.37/sh) vs loss $20.4M ($0.14/sh).
FFO ex-items $24.2M ($0.17/sh) vs $49.7M ($0.35/sh); AFFO $28.5M ($0.19/sh) vs $35.0M ($0.24/sh).
Leased 508,615 sqft in Q1; post-quarter signed 157k sqft lease with City of San Francisco at 1455 Market.
Purchased partner's 45% stake in 1455 Market for $43.5M; office occupancy 79.0% (vs 80.8% Q4).
Q2 FFO outlook $0.15-$0.19/sh; full-year same-store cash NOI growth -11.75% to -12.75%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Hudson Pacific Properties, Inc. reported first quarter 2024 results: revenue $214.0 million, net income $52.2 million, or $0.37 per diluted share, EPS $0.37 per diluted share.

Period: first quarter 2024
Revenue: $214.0 million
Net income: $52.2 million, or $0.37 per diluted share
EPS: $0.37 per diluted share
Result: reported results

Exact text from the filing

leased on a show-by-show basis, we are adjusting our outlook to account for this industry uncertainty." Financial Results Compared to First Quarter 2023 • Total revenue of $214.0 million compared to $252.3 million, with the primary drivers being asset sales, followed by a large tenant vacating space at 1455 Market, and lower occupancy and utilization of studio

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Source: SEC EDGAR

accession 0001482512-24-000046

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