| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 181.85 | 8.4% |
| Total Income | 181.85 | 8.4% |
| Expenditure | 234.64 | 14.0% |
| PBT | -50.56 | 36.9% |
| Net Profit | -53.13 | 28.9% |
| OPM | — | |
| NPM | -29.22% | 8.43pp |
| EPS | -0.82 | 54.7% |
Hudson Pacific Reports Q1 2026 Financial Results
07 May 2026 · 7 May, 6:32 pm
Summary
Hudson Pacific Properties reported financial results for the first quarter of 2026. The company delivered its third consecutive quarter of occupancy gains, executing over 550,000 square feet of office leases. Hollywood studio stages reached 97% leased, and Sunset Pier 94 achieved 100% leased within its first quarter of operations. Total revenue was $181.9 million compared to $198.5 million. The company is raising its full-year 2026 Core FFO outlook to $1.10 to $1.18 per diluted share.
Key Highlights
- 1
Hudson Pacific executed over 550,000 square feet of office leases, marking the third consecutive quarter of occupancy gains.
- 2
Hollywood studio stages reached 97% leased, while Sunset Pier 94 stages reached 100% leased by quarter end.
- 3
General and administrative expenses improved by 32% year-over-year, reflecting continued cost discipline.
- 4
The company maintained total liquidity of $933 million.
- 5
Hudson Pacific is raising its full-year 2026 Core FFO outlook to $1.10 to $1.18 per diluted share.
- 6
Total revenue was $181.9 million compared to $198.5 million primarily due to the Element LA office disposition and office tenant move outs, combined with stable studio production activity.
- 7
Core FFO was $16.5 million, or $0.25 per diluted share, compared to $12.9 million, or $0.61 per diluted share.
Management Comments
Victor Coleman
Our first quarter results reflect the meaningful progress we're making to position Hudson Pacific for long-term value creation. We delivered our third consecutive quarter of occupancy gains, executing over 550,000 square feet of office leases, while our Hollywood studio stages reached 97% leased and Sunset Pier 94 achieved 100% leased within its first quarter of operations. We also continued to strengthen our financial foundation, improving G&A by 32% year-over-year, maintaining total liquidity in excess of $930 million, and growing Core FFO sequentially on a per share basis. West Coast office fundamentals are improving, and we're well positioned to capture that recovery. AI-driven demand is translating into record leasing activity, and we're making the deliberate decisions necessary to sharpen our focus on our highest-performing assets and lines of business. Our strong first quarter, continued leasing momentum, and the further streamlining of Quixote have led us to raise our outlook, reinforcing our path to FFO growth through the balance of the year.
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