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Orion Office REIT (ONL)
NYSE:ONL
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.47Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 05, 2025
|% Change Since: -51.44%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed sentiment with significant leasing performance improvements and strategic shifts towards dedicated use assets. However, these positive developments are tempered by substantial financial challenges, including decreased core FFO, revenue declines, and increased vacancy risks. The strategic reorientation and cost management efforts highlight a proactive approach to overcoming market challenges. However, ongoing financial pressures and market uncertainties suggest cautious optimism.Company Guidance
During the earnings call, Orion Office REIT Inc. provided guidance for 2025, emphasizing a strategic shift towards dedicated use assets, which currently account for about 32% of their portfolio by annualized base rent. The company anticipates core FFO per share to range from $0.61 to $0.70. They aim to maintain G&A expenses between $19.5 million and $20.5 million, despite inflationary pressures, and project a net debt to adjusted EBITDA ratio of 8.0 to 8.8 times. Orion plans to divest traditional office properties and increase the proportion of dedicated use assets in its portfolio, while maintaining substantial liquidity of $247 million to support leasing and operational flexibility. Additionally, a restructuring charge will be incurred in 2025, but this will be adjusted in core FFO calculations. The company expects leasing momentum to improve, projecting revenue and earnings growth post-2026 as newly leased spaces become operational.Significant Leasing Performance Improvement
Leasing performance improved significantly with 1.1 million square feet leased in 2024, more than four times the leasing achieved in 2023. Notably, 287,000 square feet of new leases were signed, 13 times more than in 2023.
Successful Backfill of Hasbro Property
Successfully backfilled the 136,000 square foot Hasbro property in Providence, Rhode Island, with a long-term lease to Lifespan Corporation, now Brown University Health, shortly after Hasbro's lease expiration.
Strategic Shift to Dedicated Use Assets
Shifted focus towards dedicated use assets (DUA) such as medical, lab, R&D, and flex properties, which are expected to provide stronger rents and higher lease renewal likelihood.
Rebranding to Orion Properties
Rebranded to Orion Properties to reflect the strategic shift towards dedicated use assets and away from traditional office properties.
Cost Management and G&A Alignment
Implemented cost-saving measures, including restructuring team composition and responsibilities, with expected annual savings of $1 million from the retirement of the Chief Investment Officer.
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ONL 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
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ONL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 05, 2025 | $3.81 | $2.69 | -29.40% |
| Nov 07, 2024 | $3.83 | $3.92 | +2.35% |
| Aug 08, 2024 | $3.62 | $3.54 | -2.21% |
| May 08, 2024 | $3.06 | $3.11 | +1.63% |
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.
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FAQ
When does Orion Office REIT (ONL) report earnings?
Orion Office REIT (ONL) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is Orion Office REIT (ONL) earnings time?
Orion Office REIT (ONL) earnings time is at May 07, 2025, TBA Not 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 ONL EPS forecast?
Currently, no data Available
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