Hudson Pacific Properties, Inc. (HPP) functions as a Real Estate Investment Trust, overseeing a significant collection of office and studio properties. Its ...
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Est. EPS $-0.73 · Revenue $183.76M · 2 analysts
Est. EPS $-0.72 · Revenue $186.30M · 1 analysts
Est. EPS $-3.00 · Revenue $731.20M · 2 analysts
Est. EPS $-0.69 · Revenue $165.54M · 1 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $831.1M | -1.3% | +3.5% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-551.7M | -60.7% | -107.1% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | -42.1% | -191.4% | +200.7% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | -5.7% | -5.0% | +38.5% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -66.4% | -62.8% | -100.0% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $98.9M | -30.1% | -122.4% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +11.9% | -29.2% | -121.7% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 126.6% | -21.8% | +3.3% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.83x | +259.8% | +297.9% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $7.3B | -10.6% | -0.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -12.81 vs -7.48 | -71.2% | -1.62 vs -0.73 | -121.9% |
| Revenue Surprise | $831.1M vs $720.5M | +15.3% | $188.3M vs $183.8M | +2.5% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | BORTZ JON E | director | Common Stock, par value $0.01 | A | 25,000 | $13.40 |
| May 28, 2026 | BORTZ JON E | director | Common Stock, par value $0.01 | A | 7,462 | — |
| May 28, 2026 | SHOLEM BARRY A | director | Common Stock, par value $0.01 | A | 7,462 | — |
| May 28, 2026 | FERGUSON T RITSON | director | Common Stock, par value $0.01 | A | 7,462 | — |
| May 28, 2026 | ANTENUCCI TED R | director | Common Stock, par value $0.01 | A | 7,462 | — |
Operator: Hello, everyone. Thank you for joining us, and welcome to the Hudson Pacific Properties Second Quarter 2026 Earnings Call. [Operator Instructions] I will now hand the conference over to Laura Campbell, Executive Vice President, Investor Relations and Marketing. Laura, please go ahead Laura Campbell: Good afternoon, everyone. Thanks for joining us. With me on the call today are Victor Coleman, Chairman and CEO; Mark Lammas, President; Harout Diramerian, CFO; and Art Suazo, EVP of Leasing. This morning, we filed our earnings release and supplemental on an 8-K with the SEC, and both are now available on our website, along with an audio webcast of this call for replay. Some of the information we'll share on the call today is forward-looking in nature. Please reference our earnings release and supplemental for statements regarding forward-looking information as well as the reconciliation of non-GAAP financial measures used on this call. Today, Victor will discuss our second quarter results and current market trends. Mark will provide detail on our office and studio operations and Harout will review our financial results of 2026 outlook. Thereafter, we'll be happy to take your questions. Victor? Victor Coleman: Thanks, Laura. Hello, everyone, and welcome to our second quarter call. This was both a record leasing and highly productive quarter for Hudson Pacific. We signed 1.3 million square feet of new and renewal office leases headlined by a landmark 891,000 square-foot 24-year lease with the City and County of San Francisco at 1455 Market, which locks in nearly 1/4 of a century of cash flow visibility. Occupancy increased 470 basis points, our fourth consecutive quarter of gains and improved performance across our office and studio portfolios drove same-store NOI up 7.5%. Together with continued cost reductions and Quixote restructuring, we nearly tripled core FFO and achieved a 30% increase on a per share basis. We also stayed disciplined on capital, maintaining total liquidity of $876 million while continuing to execute our asset disposition plan. And importantly, as we look ahead, we reloaded our leasing pipeline to 2.4 million square feet. That leasing strength is playing out against a constructive venture and IPO backdrop, U.S. venture investment totaled $145 billion in the second quarter, its second largest and strongest quarter ever with -- infrastructure, robotics and space tech. This all points to a wider, more diverse tenant base rather than a single sector bed, which will benefit our portfolio over time. The IPO market is improving, too with pending listings signaling further office demand as newly public companies and the ecosystem around them continue to grow. Across nearly every market in our portfolio, demand is broadening along virtually no new construction and that dynamic is strengthening fundamentals, though at different rates across our markets. San Francisco posted its seventh consecutive quarter of positive absorption …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Victor J. Coleman | Chairman & Chief Executive Officer | USD 2,410,557 | Male | 1962 | Active |
Mark T. Lammas | President | USD 1,565,037 | Male | 1967 | Active |
Arthur X. Suazo | Executive Vice President of Leasing | USD 1,120,317 | Male | 1965 | Active |
Drew Gordon | Chief Investment Officer | USD 1,071,357 | Male | 1967 | Active |
Kay Lee Tidwell | Executive VP, General Counsel & Chief Risk Officer | USD 1,051,456 | Female | 1977 | Active |
Harout Krikor Diramerian | Chief Financial Officer | USD 918,717 | Male | 1975 | Active |
Sanford Dale Shimoda | Executive Vice President of Finance | USD 750,594 | Male | 1968 | Active |
Laura Murray | Vice President of Communications | — | Female | — | Active |
Lisa Burelli | Chief People Officer | — | Female | — | Active |
Laura Campbell | Executive Vice President of Investor Relations & Marketing | — | Female | — | Active |
Hudson Pacific Properties (NYSE: HPP - Get Free Report) is projected to announce its Q2 2026 results before the market opens on Wednesday, August 5th. Analysts expect the company to announce earnings of ($0.7233) per share and revenue of $182.03 million for the quarter. Hudson Pacific Properties has set its FY 2026 guidance at 1.100-1.180 EPS.
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