Earnings Call Summary | Hudson Pacific Properties Inc(HPP.US) Q1 2024 Earnings Conference
Earnings Call Summary | Hudson Pacific Properties Inc(HPP.US) Q1 2024 Earnings Conference
The following is a summary of the Hudson Pacific Properties, Inc. (HPP) Q1 2024 Earnings Call Transcript:
以下是哈德遜太平洋地產公司(HPP)2024年第一季度業績電話會議記錄摘要:
Financial Performance:
財務業績:
Hudson Pacific reported Q1 2024 revenue of $214 million, down from $252.3 million in Q1 of the previous year due to asset sales, tenant spaces vacating and studio business disruption from strikes.
The Q1 FFO, excluding specified items, was $24.2 million or $0.17 per diluted share, down from $49.7 million or $0.35 per diluted share in the same period last year.
The company's same-store cash NOI was $108.3 million, lower than the $124.4 million due primarily to two significant tenant exits.
The end of quarter total liquidity was recorded at $734 million, including $114 million in unrestricted cash and $620 million of undrawn capacity from an unsecured revolving credit facility.
哈德森太平洋公佈的2024年第一季度收入爲2.14億美元,低於去年第一季度的2.523億美元,這要歸因於資產出售、租戶空間騰空以及罷工導致的工作室業務中斷。
第一季度FFO(不包括特定項目)爲2420萬美元,攤薄每股收益0.17美元,低於去年同期的4,970萬美元或攤薄每股0.35美元。
該公司的同店現金淨投資爲1.083億美元,低於1.244億美元,這主要是由於兩次大量租戶退出。
季度末的流動性總額爲7.34億美元,其中包括1.14億美元的非限制性現金和來自無抵押循環信貸額度的6.2億美元未提取容量。
Business Progress:
業務進展:
Hudson Pacific experienced an uptick in office leasing activity with an acceleration of new deals in the first half of the year.
The company plans to sell 3 office assets, totaling about 900,000 square feet, to further deleverage and bolster its balance sheet.
In their studio business, promising activity on vacant stages has been noted, although post-strike recovery has been slower than anticipated.
The company is gauging strategic alternatives for its studio business, a move that could include potential spin-offs or roll-ups.
With their facilities fully occupied and filming ongoing at two primary studios, they plan to leverage improved income from recently acquired full ownership of 1455 Market.
上半年,隨着新交易的加速,哈德森太平洋的辦公室租賃活動有所增加。
該公司計劃出售總面積約90萬平方英尺的3處辦公資產,以進一步去槓桿化和增強其資產負債表。
在他們的工作室業務中,儘管罷工後的復甦比預期的要慢,但空缺舞臺上的活動還是有希望的。
該公司正在考慮其工作室業務的戰略替代方案,此舉可能包括潛在的分拆或合併。
由於設施已全部佔用,兩家主要製片廠正在進行拍攝,他們計劃利用最近收購的1455 Market全部所有權所帶來的收入增加。
More details: Hudson Pacific Properties Inc IR
更多詳情: 哈德遜太平洋地產公司 IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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譯文內容由第三人軟體翻譯。