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Hudson Pacific (HPP) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Hudson Pacific Properties (HPP - Free Report) reported $231.44 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 11.1%. EPS of $0.18 for the same period compares to -$0.12 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $238.37 million, representing a surprise of -2.91%. The company delivered an EPS surprise of -14.29%, with the consensus EPS estimate being $0.21.
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: $199.63 million versus the three-analyst average estimate of $202.55 million. The reported number represents a year-over-year change of -4.4%.
Revenues- Studio - Rental: $13.48 million compared to the $16.36 million average estimate based on three analysts. The reported number represents a change of -11.9% year over year.
Revenues- Studio - Service revenues and other: $14.37 million versus the three-analyst average estimate of $15.88 million. The reported number represents a year-over-year change of -54.5%.
Revenues- Office - Total: $203.59 million compared to the $204.70 million average estimate based on two analysts. The reported number represents a change of -4.6% year over year.
Revenues- Studio - Total: $27.86 million versus $30.36 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -40.6% change.
Revenues- Office - Service revenues and other: $3.95 million versus $3.88 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -16.1% change.
Net Earnings Per Share (Diluted): -$0.27 versus the three-analyst average estimate of -$0.35.
Shares of Hudson Pacific have returned -23.8% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Hudson Pacific (HPP) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Hudson Pacific Properties (HPP - Free Report) reported $231.44 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 11.1%. EPS of $0.18 for the same period compares to -$0.12 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $238.37 million, representing a surprise of -2.91%. The company delivered an EPS surprise of -14.29%, with the consensus EPS estimate being $0.21.
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: $199.63 million versus the three-analyst average estimate of $202.55 million. The reported number represents a year-over-year change of -4.4%.
- Revenues- Studio - Rental: $13.48 million compared to the $16.36 million average estimate based on three analysts. The reported number represents a change of -11.9% year over year.
- Revenues- Studio - Service revenues and other: $14.37 million versus the three-analyst average estimate of $15.88 million. The reported number represents a year-over-year change of -54.5%.
- Revenues- Office - Total: $203.59 million compared to the $204.70 million average estimate based on two analysts. The reported number represents a change of -4.6% year over year.
- Revenues- Studio - Total: $27.86 million versus $30.36 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -40.6% change.
- Revenues- Office - Service revenues and other: $3.95 million versus $3.88 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -16.1% change.
- Net Earnings Per Share (Diluted): -$0.27 versus the three-analyst average estimate of -$0.35.
View all Key Company Metrics for Hudson Pacific here>>>Shares of Hudson Pacific have returned -23.8% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.