Orion Office REIT reports FY 2022 net loss of $97.5M; Core FFO $1.80/share, above guidance

Orion Properties Inc.

Full year 2022 revenues $208.1M; net loss $(97.5)M ($(1.72)/share); Core FFO $101.8M ($1.80/share), exceeding guidance by $0.02.
Q4 2022 revenues $50.3M; net loss $(19.0)M ($(0.33)/share); Core FFO $23.2M ($0.41/share).
Portfolio occupancy 89.0% with 73.3% from investment-grade tenants; WALT 4.1 years; sold 11 properties for $33.1M.
Declared Q1 2023 dividend of $0.10/share, payable April 17, 2023 to holders of record March 31.
FY 2023 Core FFO guidance $1.55-$1.63 per share; G&A $18.75-$19.75M; Net Debt/Adj. EBITDA 4.3x-5.3x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Orion Properties Inc. reported financial results for the fourth quarter and full year ended December 31, 2022.

Period: the fourth quarter and full year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 8, 2023, Orion Office REIT Inc. furnished the following documents: (i) a press release relating to its fourth quarter and full year 2022 financial results and related matters, attached hereto as Exhibit 99.1; and (ii) supplemental information for the quarter and year ended December 31, 2022, attached hereto as Exhibit 99.2.

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Source: SEC EDGAR

accession 0001873923-23-000008

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