earnings
confidence high
sentiment neutral
materiality 0.75
HPP Q4 net loss $277.9M; FFO ex-items $0.21; provides 2026 FFO outlook $0.96-$1.06
Hudson Pacific Properties, Inc.
2025-FY EPS reported
-$12.81
revenue$831,105,000
- Total revenue $256.0M vs $209.7M YoY, lifted by $81M lease termination fee from Element LA sale.
- Same-store cash NOI fell to $84.8M vs $94.3M due to lower office occupancy; office occupancy 76.3% (up 40bps QoQ).
- Signed 518K sq ft of leases in Q4, 2.2M in 2025; renewal with Weil Gotshal for 59K sq ft through 2038.
- 2026 full-year FFO guidance $0.96-$1.06/dil share; implies improvement from $0.84 annualized Q4 ex-items run rate.
- Liquidity $933.6M; net debt to undepreciated book value 31.9%; no debt maturities until Q3 2026.