Hudson Pacific Properties (HPP)
NYSE:HPP
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Earnings Data
Report Date
Aug 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.77Last Year’s EPS
-2.87Same Quarter Last Year
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights clear progress: sequential occupancy gains, a larger leasing pipeline, improved core FFO and an upgraded full-year outlook, material G&A reductions, strong liquidity, and targeted disposals to recycle capital. Offsetting items include YoY revenue and same-store NOI declines driven by prior tenant move-outs (notably Uber at 1455 Market), studio revenue softness largely tied to Coyote (now being wound down), elevated recurring CapEx impacting AFFO, and continued weakness in Los Angeles fundamentals. Management presented a credible plan to address underperforming assets (Coyote wind-down, dispositions, redevelopments) and maintained ample liquidity to execute, which leaves the overall tone constructive.Company Guidance
Occupancy and Leasing Momentum
Signed 554,000+ sq ft in Q1; in-service office portfolio occupancy 77.8%, up 150 bps sequentially; lease rate 78.4%, up 140 bps sequentially. Leasing pipeline grew to 2.4M sq ft (up 13% YoY) with 2.2M sq ft of tours (up >30% YoY).
FFO and Outlook Upgrade
Core FFO increased to $16.5M (Q1), and company raised full-year core FFO per diluted share guidance to $1.10–$1.18 (from $0.96–$1.06). Q1 outperformance and reclassification of Coyote as discontinued ops contributed to the raise (approximately $0.04 outperformance and $0.09 benefit).
Studio Performance at Prime Assets
Hollywood stages (Sunset Bronson, Gower, Las Palmas) were 97% leased (trailing 3 months). Sunset Pier 94 reached 100% leased within its first quarter of operations. Sunset Studio NOI (excluding Coyote) rose to $7.4M, up $1.0M sequentially and $1.8M YoY.
Cost Reductions and G&A Savings
G&A declined 32% YoY to $12.6M (from $18.5M), reflecting meaningful overhead streamlining and deliberate cost control.
Strong Liquidity and Lower Interest Costs
Total liquidity of $933M (including $138M cash and $795M undrawn on credit facility); interest expense down 13% YoY, saving ~$5.5M, and debt is fixed or capped.
Market Tailwinds from Tech / AI Capital
Macro: record $267B of VC deployed in Q1, fueling leasing activity—San Francisco posted 2.3M sq ft positive absorption and asking rents rose ~4% YoY; AI-related tenants comprised a large share of recent leasing (nearly 60% in SF, ~25% of tech pipeline company-wide).
Active Capital Recycling and Dispositions
Targeting $200M of FFO-accretive non-core dispositions in 2026; buyer and agreed price on 10950 Washington and another asset under contract, supporting portfolio optimization.
Coyote Wind-Down Expected to Reduce Drag
Planned wind down of Coyote leased soundstages and Atlanta operations projected to yield approximately $5.8M of annual cash NOI improvement and has been classified as discontinued operations, removing that drag from continuing core FFO.
HPP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HPP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $10.63 | $11.77 | +10.72% |
Feb 26, 2026 | $6.36 | $7.69 | +20.91% |
Nov 05, 2025 | $15.75 | $16.87 | +7.11% |
Aug 05, 2025 | $17.64 | $18.83 | +6.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hudson Pacific Properties (HPP) report earnings?
Hudson Pacific Properties (HPP) is schdueled to report earning on Aug 04, 2026, Before Open (Confirmed).
What is Hudson Pacific Properties (HPP) earnings time?
Hudson Pacific Properties (HPP) earnings time is at Aug 04, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HPP EPS forecast?
HPP EPS forecast for the fiscal quarter 2026 (Q2) is -0.77.