Orion Office REIT Q1 net loss $(0.47)/sh; Core FFO $0.36; reaffirms 2024 outlook

Orion Properties Inc.

2024-Q1 EPS reported -$0.47 revenue$47,197,000

Total revenues $47.2M, down from $50.2M YoY; net loss $(26.2)M vs $(8.9)M prior year.
Core FFO $20.4M ($0.36/sh) vs $25.3M ($0.45/sh) in Q1 2023; includes $0.07/sh non-recurring items.
Completed 108K sq ft leasing in Q1; subsequent to quarter-end signed 414K sq ft renewal with U.S. Government.
Agreements to sell 790K sq ft for $48.1M; occupancy rate 75.8% (83.2% excluding pending sales).
Declared Q2 dividend $0.10/sh; reaffirmed 2024 Core FFO guidance $0.93-$1.01/sh.

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 0.95

Orion Properties Inc. reported the first quarter ended March 31, 2024 results: revenue $47.2 million, net income $(26.2) million, EPS $(0.47) per share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $47.2 million
Net income: $(26.2) million
EPS: $(0.47) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

quarter to exercise our option to extend the maturity out 18 months from November 2024 to May 2026.” First Quarter 2024 Financial and Operating Highlights • Total revenues of $47.2 million • Net loss attributable to common stockholders of $(26.2) million, or $(0.47) per share • Funds from Operations (“FFO”) of $18.4 million, or $0.33 per share • Core FFO of $20.4

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Source: SEC EDGAR

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