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Piedmont Office (PDM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Piedmont Office (PDM - Free Report) reported $143.07 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 5%. EPS of $0.45 for the same period compares to $0.06 a year ago.
The reported revenue represents a surprise of -0.09% over the Zacks Consensus Estimate of $143.2 million. With the consensus EPS estimate being $0.46, the EPS surprise was -2.17%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Piedmont Office performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Rental and Tenant Reimbursement Revenue: $137.50 million versus $137.92 million estimated by two analysts on average.
Other property related income: $5.13 million compared to the $5.02 million average estimate based on two analysts. The reported number represents a change of +33.9% year over year.
Property management fee revenue: $0.44 million versus the two-analyst average estimate of $0.50 million. The reported number represents a year-over-year change of +34.1%.
Net income per share applicable to common stockholders-diluted: -$0.02 compared to the -$0.01 average estimate based on two analysts.
Shares of Piedmont Office have returned +14.8% over the past month versus the Zacks S&P 500 composite's +3.6% 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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Piedmont Office (PDM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Piedmont Office (PDM - Free Report) reported $143.07 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 5%. EPS of $0.45 for the same period compares to $0.06 a year ago.
The reported revenue represents a surprise of -0.09% over the Zacks Consensus Estimate of $143.2 million. With the consensus EPS estimate being $0.46, the EPS surprise was -2.17%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Piedmont Office performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Rental and Tenant Reimbursement Revenue: $137.50 million versus $137.92 million estimated by two analysts on average.
- Other property related income: $5.13 million compared to the $5.02 million average estimate based on two analysts. The reported number represents a change of +33.9% year over year.
- Property management fee revenue: $0.44 million versus the two-analyst average estimate of $0.50 million. The reported number represents a year-over-year change of +34.1%.
- Net income per share applicable to common stockholders-diluted: -$0.02 compared to the -$0.01 average estimate based on two analysts.
View all Key Company Metrics for Piedmont Office here>>>Shares of Piedmont Office have returned +14.8% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.