Quarterly ResultMay 7, 2026, 09:02 AM
Hudson Pacific Q1 Core FFO $0.25; Raises FY26 Outlook to $1.10-$1.18
AI Summary
Hudson Pacific Properties reported Q1 2026 financial results, with Core FFO of $0.25 per diluted share and a net loss of $53.1 million. The company raised its full-year 2026 Core FFO outlook to $1.10-$1.18 per diluted share, citing Q1 outperformance and a $0.09 benefit from reclassifying Quixote's operations. Operational highlights include a third consecutive quarter of office occupancy gains to 77.8% and strong studio leasing, with Hollywood stages 97% leased and Sunset Pier 94 reaching 100% leased.
Key Highlights
- Raised full-year 2026 Core FFO outlook to $1.10-$1.18 per diluted share.
- Q1 2026 Core FFO was $0.25 per diluted share, compared to $0.61 in Q1 2025.
- Net loss was $53.1 million, or $0.82 per diluted share.
- Office occupancy improved to 77.8%, marking the third consecutive quarterly gain.
- Executed 554,021 square feet of office leases; GAAP rents +1.8%, cash rents -2.4%.
- Hollywood studio stages were 97% leased; Sunset Pier 94 stages reached 100% leased.
- Total liquidity stood at $933.3 million as of March 31, 2026.
- General and administrative expenses improved 32% year-over-year to $12.6 million.