Loading...
•
Mar 31, 2022
Paramount Q1 2022 Earnings Report
Paramount Group's financial performance improved in the first quarter of 2022, with net income attributable to common stockholders and Core FFO increasing compared to the same period last year.
Key Takeaways
Paramount Group, Inc. reported a net income attributable to common stockholders of $3.4 million, or $0.02 per diluted share, for the quarter ended March 31, 2022, compared to a net loss of $3.6 million, or $0.02 per diluted share, for the quarter ended March 31, 2021. Core Funds from Operations (FFO) attributable to common stockholders was $54.6 million, or $0.25 per diluted share, compared to $50.6 million, or $0.23 per diluted share, for the same period in the prior year. The company also raised its full-year 2022 earnings guidance.
Net income attributable to common stockholders was $3.4 million, or $0.02 per diluted share.
Core FFO attributable to common stockholders was $54.6 million, or $0.25 per diluted share.
Same Store Cash Net Operating Income (NOI) increased by 3.9%.
Full year 2022 Earnings Guidance was raised.
Forward Guidance
The Company is raising its Estimated Core FFO Guidance for the full year of 2022 and estimates that net loss attributable to common stockholders will be between $0.05 and $0.01 per diluted share.
Positive Outlook
- $0.01 per diluted share from lease termination income (that was recognized in the first quarter of 2022)
- $0.01 per diluted share from better than expected portfolio operations
Challenges Ahead
- $0.01 per diluted share from higher interest expense on variable rate debt
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...