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Dec 31, 2022
Orion Office REIT Q4 2022 Earnings Report
Orion Office REIT announced its Q4 2022 financial results, featuring total revenues of $50.3 million and a net loss attributable to common stockholders of $(19.0) million, or $(0.33) per share.
Key Takeaways
Orion Office REIT Inc. reported its Q4 2022 results, with a focus on portfolio optimization. The company completed lease renewals, expansions, and new leases across several properties and sold six properties for $10.0 million during the quarter. While facing economic challenges in the office sector, Orion is working to manage its balance sheet and build long-term value.
Total revenues for Q4 2022 were $50.3 million.
Net loss attributable to common stockholders was $(19.0) million, or $(0.33) per share.
Core FFO was $23.2 million, or $0.41 per share.
The company sold six properties for $10.0 million.
Orion Office REIT
Orion Office REIT
Forward Guidance
Orion is providing the following guidance for fiscal year 2023: LowHighCore FFO per share (1)$1.55-$1.63General and Administrative Expenses$18.75 million-$19.75 millionNet Debt to Adjusted EBITDA4.3x-5.3x
Positive Outlook
- General & Administrative Expenses: $18.75 million to $19.75 million
Challenges Ahead
- LowHighDiluted net income per share attributable to common stockholders$(0.61)$(0.54)