Loading...
•
Mar 31, 2020
Hudson Pacific Q1 2020 Earnings Report
Reported solid first quarter results with revenue growth and significant leasing activity, but withdrew full-year FFO guidance due to COVID-19 uncertainty.
Key Takeaways
Hudson Pacific Properties reported positive first-quarter results, including an increase in total revenue and net income. The company experienced growth in same-store office and studio cash NOI. However, due to the uncertainty surrounding the COVID-19 pandemic, they withdrew their full-year 2020 FFO guidance.
Net income attributable to common stockholders was $10.8 million, or $0.07 per diluted share.
FFO, excluding specified items, was $84.6 million, or $0.54 per diluted share.
Total revenue increased by 4.5% to $206.2 million.
The company collected 95% of office and studio April rents.
Hudson Pacific
Hudson Pacific
Hudson Pacific Revenue by Segment
Revenue by Segment
Office Revenue
CapyFin.comStudio Revenue
CapyFin.com Forward Guidance
Due to the uncertainty resulting from the COVID-19 pandemic, the Company is withdrawing its previous full-year 2020 FFO guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income