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Dec 31, 2025
Hudson Pacific Q4 2025 Earnings Report
Hudson Pacific reported higher revenue but a wider net loss in the fourth quarter of 2025, driven by impairment charges and non-recurring items.
Key Takeaways
Revenue increased year-over-year primarily due to a lease termination fee, while the company recorded a significant net loss attributable to common stockholders driven by impairment losses and other non-operating charges.
Total revenue increased to 256027000 from 209666000 year-over-year.
Net loss attributable to common stockholders widened to 277919000.
Office portfolio ended the quarter 76.3% occupied and 77.0% leased.
Total liquidity stood at 933600000 at quarter end.
Revenue by Segment
Forward Guidance
For full year 2026, the company expects FFO per diluted share between 0.96 and 1.06, assuming stable market conditions and no major acquisitions or dispositions.
Positive Outlook
- Projected average in-service office occupancy between 80.0% and 82.0%.
- No debt maturities until the third quarter of 2026.
- 100% of debt fixed or capped with a weighted average interest rate of 4.9%.
- Improved liquidity position following capital transactions.
- Lower general and administrative expense outlook compared to prior year.
Challenges Ahead
- Expected decline in same-store cash NOI between -1.75% and -0.75%.
- Interest expense projected between 151000000 and 161000000 for 2026.
- Ongoing non-cash depreciation and amortization expenses.
- FFO attributable to non-controlling interests expected to remain negative.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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