For the quarter ended September 2024, Hudson Pacific Properties (HPP) reported revenue of $200.39 million, down 13.4% over the same period last year. EPS came in at $0.10, compared to -$0.27 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $208.94 million, representing a surprise of -4.09%. The company delivered an EPS surprise of -9.09%, with the consensus EPS estimate being $0.11.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $162.91 million versus the three-analyst average estimate of $170.54 million. The reported number represents a year-over-year change of -18.4%.
- Revenues- Studio - Rental: $13.72 million versus $12.70 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.8% change.
- Revenues- Studio - Service revenues and other: $19.73 million versus the three-analyst average estimate of $21.52 million. The reported number represents a year-over-year change of +37.3%.
- Revenues- Studio - Total: $33.45 million compared to the $34.37 million average estimate based on three analysts. The reported number represents a change of +20.1% year over year.
- Revenues- Office - Total: $166.94 million versus the two-analyst average estimate of $175.32 million. The reported number represents a year-over-year change of -18%.
- Revenues- Office - Service revenues and other: $4.03 million compared to the $3.47 million average estimate based on two analysts. The reported number represents a change of +2% year over year.
- Net Earnings Per Share (Diluted): -$0.69 versus -$0.40 estimated by four analysts on average.
Shares of Hudson Pacific have returned -1.3% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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