Brief: Hudson Pacific Properties Q2 Revenue USD 190 Million Vs. IBES Estimate USD 191 Million

Hudson Pacific Properties

05/08/2025 21:05

Overview

Hudson Pacific Q2 revenue declines, missing analyst expectations, per LSEG data

Net loss widens to $83.1 mln, impacted by asset sales and lower occupancy

Company maintains $1.0 bln liquidity, executes 558,000 sq ft of leases

Outlook

Company projects Q3 FFO of $0.01 to $0.05 per diluted share

Hudson Pacific expects full-year same-store cash NOI to decline 11.5%-12.5%

Company's Q3 outlook excludes impacts from new acquisitions or financings

Result Drivers

LEASING ACTIVITY - Executed 558,000 sq ft of new and renewal leases, driven by demand from tech and media tenants

STUDIO BUSINESS - Positive traction with increased leasing percentages for in-service studios, excluding Sunset Glenoaks

LIQUIDITY POSITION - Maintains $1.0 bln in liquidity, supporting operations despite revenue decline

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$190 mln
$191 mln (7 Analysts)
Q2 EPS
-$0.41
Q2 Net Income
-$83.10 mln
Q2 Adjusted FFO
$8 mln
Q2 FFO
-$11.20 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy."

Wall Street's median 12-month price target for Hudson Pacific Properties Inc is $3.00, about 19.7% above its August 4 closing price of $2.41

Press Release: ID:nBw3nZcGVa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)