Hudson Pacific (HPP) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Hudson Pacific Properties (HPP) reported revenue of $223.42 million, down 17.2% over the same period last year. EPS came in at $0.14, compared to -$0.09 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $225.59 million, representing a surprise of -0.96%. The company delivered an EPS surprise of -6.67%, with the consensus EPS estimate being $0.15.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Hudson Pacific performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Office - Rental: $191.32 million compared to the $194.46 million average estimate based on three analysts. The reported number represents a change of -7.8% year over year.
Revenues- Office - Service revenues and other: $3.55 million compared to the $4.05 million average estimate based on three analysts. The reported number represents a change of -10.6% year over year.
Revenues- Studio - Total: $28.56 million versus the three-analyst average estimate of $27.89 million. The reported number represents a year-over-year change of -51.1%.
Revenues- Studio - Service revenues and other: $15.39 million versus $14.87 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -62.3% change.
Revenues- Office - Total: $194.86 million versus $198.51 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7.9% change.
Revenues- Studio - Rental: $13.17 million versus the three-analyst average estimate of $13.02 million. The reported number represents a year-over-year change of -24.9%.
Net Earnings Per Share (Diluted): -$0.70 versus -$0.39 estimated by three analysts on average.
View all Key Company Metrics for Hudson Pacific here>>>
Shares of Hudson Pacific have returned -12.5% over the past month versus the Zacks S&P 500 composite's +5.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Hudson Pacific Properties, Inc. (HPP) : Free Stock Analysis Report
