Orion Office REIT Q4 net loss $0.29; Core FFO $0.33; FY2024 Core FFO guidance $0.93-$1.01

Orion Properties Inc.

2023-FY EPS reported -$1.02 revenue$195,041,000

Q4 total revenues $43.8M (down 13% YoY); full year $195.0M (down 6% from $208.1M in 2022).
Q4 net loss $(16.2)M or $(0.29)/share; full year net loss $(57.3)M or $(1.02)/share (vs $(1.72) in 2022).
Q4 Core FFO $18.5M ($0.33/share) vs $24.9M ($0.44) in Q4 2022; full year Core FFO $94.8M ($1.68) vs $108.2M ($1.91).
Sold six properties for $25.4M in 2023; seven additional under contract for $46.0M; portfolio occupancy 80.4% (87.2% adjusted).
Declared Q1 2024 dividend of $0.10/share; 2024 Core FFO guidance $0.93-$1.01 vs $1.68 in 2023, implying ~40% decline.

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 1.0

Orion Properties Inc. reported the fourth quarter ended December 31, 2023 results: revenue $43.8 million, net income $(16.2) million, or $(0.29) per share, EPS $(0.29) per share.

Period: the fourth quarter ended December 31, 2023
Revenue: $43.8 million
Net income: $(16.2) million, or $(0.29) per share
EPS: $(0.29) per share
Result: reported results

Exact text from the filing

Total revenues of $43.8 million • Net loss attributable to common stockholders of $(16.2) million, or $(0.29) per share

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Orion Properties Inc. reported the full year ended December 31, 2023 results: revenue $195.0 million, net income $(57.3) million, or $(1.02) per share, EPS $(1.02) per share.

Period: the full year ended December 31, 2023
Revenue: $195.0 million
Net income: $(57.3) million, or $(1.02) per share
EPS: $(1.02) per share
Result: reported results

Exact text from the filing

Total revenues of $195.0 million • Net loss attributable to common stockholders of $(57.3) million, or $(1.02) per share

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Orion Properties Inc. filing history →

Source: SEC EDGAR

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