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Piedmont Office (PDM)
NYSE:PDM
Earnings Data
Report Date
Jul 23, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-0.05Last Year’s EPS
-0.08Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 28, 2025
|% Change Since: 1.47%
|Next Earnings Date:Jul 23, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong leasing activity, positive rental rate increases, and no near-term debt maturities, showcasing operational strength. However, this was tempered by the suspension of the dividend, macroeconomic uncertainties, and a decline in Core FFO, which raises concerns about short-term challenges.Company Guidance
During the Piedmont Office Realty Trust's first quarter 2025 earnings call, several key metrics and guidance points were highlighted. The company completed approximately 363,000 square feet of total leasing in the quarter, with half being new tenant leases, and achieved double-digit rental rate roll-ups on both a cash and GAAP basis. Despite macroeconomic uncertainties, leasing momentum remains strong, with 275,000 square feet signed in April and a year-end lease percentage guidance of 89% to 90%. Piedmont's 2025 core FFO guidance was affirmed at $1.38 to $1.44 per diluted share. The decision to suspend dividends aims to fund long-term growth, retaining approximately $60 million annually, and reduce leverage, projecting $0.01 accretion in 2025. The leasing success has led to a backlog increase from $46 million to $67 million in annualized revenue. The gap between lease percentage and economic lease percentage is at 10.6%, the widest in over a decade, with plans to close this as leases commence.Strong Leasing Activity
Completed approximately 363,000 square feet of total leasing during the quarter, with roughly half related to new tenant leases. Leasing momentum remains strong, including over 275,000 square feet of leases signed during April.
Positive Rental Rate Increases
Leases executed during the quarter reflected double-digit rental rate roll-ups on both a cash and GAAP basis, with lease economics showing approximately 10% and 19% roll-ups.
No Near-term Debt Maturities
Successfully refinanced debt with no final maturities until 2028 and approximately $500 million availability under the revolving line of credit.
Recognition for Design Excellence
Galleria 600 lobby rejuvenation awarded the Best of Special Projects award from the International Interior Design Association’s Georgia Chapter.
Robust Leasing Pipeline
The company has 1.9 million square feet of executed leases yet to commence or under abatement, suggesting strong future earnings growth.
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PDM 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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PDM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2025 | $6.80 | $5.75 | -15.44% |
Feb 13, 2025 | $7.82 | $7.18 | -8.18% |
Oct 24, 2024 | $10.55 | $10.02 | -5.02% |
Jul 31, 2024 | $8.28 | $8.32 | +0.48% |
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 Piedmont Office (PDM) report earnings?
Piedmont Office (PDM) is schdueled to report earning on Jul 23, 2025, TBA Not Confirmed.
What is Piedmont Office (PDM) earnings time?
Piedmont Office (PDM) earnings time is at Jul 23, 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 PDM EPS forecast?
PDM EPS forecast for the fiscal quarter 2025 (Q2) is -0.05.
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