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Jun 30, 2021
Hudson Pacific Q2 2021 Earnings Report
Reported strong financial results driven by increased office leasing and production activity.
Key Takeaways
Hudson Pacific Properties reported strong second-quarter results with increased office leasing and studio production activity, leading to revenue growth and solid same-store NOI performance. The company reinstated its full-year guidance, reflecting confidence in continued momentum.
Net income attributable to common stockholders was $2.3 million, or $0.02 per diluted share.
FFO, excluding specified items, was $74.4 million, or $0.49 per diluted share.
Total revenue increased 8.6% to $215.6 million.
Same-store office and studio cash NOI increased 4.9% and 29.3%, respectively.
Hudson Pacific
Hudson Pacific
Hudson Pacific Revenue by Segment
Revenue by Segment
Office Revenue
CapyFin.comStudio Revenue
CapyFin.com Forward Guidance
The Company is providing 2021 full-year and third-quarter guidance in the range of $1.90 to $1.96 per diluted share, excluding specified items, and $0.47 to $0.49 per diluted share, excluding specified items, respectively.
Positive Outlook
- Rental rates
- Occupancy levels
- Earnings impact of events referenced in this press release
- Earnings impact of events referenced in earlier announcements
- FFO per share for full year 2021 between $1.90 and $1.96
Challenges Ahead
- Market conditions
- Future unannounced or speculative acquisitions
- Future dispositions
- Debt financings or repayments
- Capital markets activity or similar matters
Revenue & Expenses
Visualization of income flow from segment revenue to net income