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Mar 31, 2022
Hudson Pacific Q1 2022 Earnings Report
Reported strong leasing activity and updated FFO outlook.
Key Takeaways
Hudson Pacific Properties reported strong first quarter results driven by their focus on serving the tech and media industries. They signed over 500,000 square feet of leases and are progressing on over 2.3 million square feet of under construction and near-term planned state-of-the-art office and studio value creation opportunities.
Total revenue increased 14.7% to $244.5 million.
Signed over 500,000 square feet of leases.
In-service office portfolio ended the quarter at 91.1% occupied and 92.3% leased.
Narrowing its 2022 full-year FFO guidance to a range of $2.02 to $2.08 per diluted share, excluding specified items.
Revenue by Segment
Forward Guidance
The Company is narrowing its 2022 full-year FFO guidance to a range of $2.02 to $2.08 per diluted share, excluding specified items. This guidance assumes the successful disposition of the Company's four held-for-sale properties before the end of the third quarter for gross proceeds in the range of $325 to $350 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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