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Jun 30, 2020
Hudson Pacific Q2 2020 Earnings Report
Reported financial results for the second quarter of 2020.
Key Takeaways
Hudson Pacific Properties reported a slight increase in total revenue, with office revenue increasing and studio revenue decreasing. Net income attributable to common stockholders was $3.7 million, or $0.02 per diluted share. The company formed a joint venture with Blackstone to expand its studio platform and maintains a strong liquidity position.
Net income of $0.02 per diluted share.
FFO of $0.50 per diluted share (excluding specified items).
Same-store office cash NOI decreased 3.7%, primarily due to a one-time property tax recovery.
Same-store studio cash NOI decreased 26.7% due to COVID-19 production delays.
Hudson Pacific
Hudson Pacific
Hudson Pacific Revenue by Segment
Revenue by Segment
Office Revenue
CapyFin.comStudio Revenue
CapyFin.com Forward Guidance
Due to continued uncertainty around potential business disruptions as a result of COVID-19, Hudson Pacific is not reinstating its full-year 2020 FFO guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income