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Brandywine Realty (BDN)
NYSE:BDN
Earnings Data
Report Date
Apr 22, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.14Last Year’s EPS
-0.1Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 04, 2025
|% Change Since: -9.51%
|Next Earnings Date:Apr 22, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture. While there were significant achievements in leasing activity, liquidity improvement, and successful joint venture recapitalizations, the company faced challenges with missing FFO targets, development delays, and negative rent spread expectations. The overall sentiment is balanced, with positive progress tempered by notable financial and operational hurdles.Company Guidance
During the Brandywine Realty Trust fourth quarter 2024 earnings call, the company provided guidance for 2025, acknowledging it as a transitional year with expected FFO between $0.60 and $0.72 per share, primarily due to development project expenses and interest charges. Key metrics included an 87.8% occupancy and 89.9% lease rate for their core portfolio, surpassing the 2024 spec revenue target by 8% to reach $26.4 million, and achieving a tenant retention rate of 63% against a target of 51-53%. Leasing activity amounted to 2.3 million square feet for the year, with a notable 42% increase in the fourth quarter over Q4 2023. The company emphasized liquidity improvements, surpassing their asset disposition goal by achieving over $300 million in sales, having $90 million in cash, and no balance on their $600 million credit line. Despite an FFO shortfall, Brandywine anticipates improved leasing momentum and market conditions in Philadelphia and Austin, highlighting strong pipelines and minimal tenant expiration risks through 2026.Strong Leasing Activity
Leasing activity for the year approximated 2.3 million square feet, including 783,000 square feet in the fourth quarter, which was the highest in 2024 and 42% above the corresponding fourth quarter in 2023.
Improved Liquidity
Completed over $300 million of dispositions, well above the $150 million revised midpoint and the $90 million original guidance, with $90 million cash on hand and no outstanding balance on the $600 million unsecured line of credit.
Occupancy and Leasing Rates
The wholly owned core portfolio is 87.8% occupied and 89.9% leased, with less than 5% annual rollover through 2026.
Successful Recapitalization
Recapitalized and exited several operating joint ventures, reducing attribution by $229 million, far exceeding the $100 million goal.
Key Lease Achievements
3025 office project in Schuylkill Yards now 83% leased, and residential component sits at 84% leased.
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BDN 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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BDN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 04, 2025 | $5.36 | $5.09 | -5.04% |
| Oct 22, 2024 | $6.10 | $5.27 | -13.61% |
| Jul 23, 2024 | $4.60 | $4.43 | -3.70% |
| Apr 17, 2024 | $3.91 | $3.88 | -0.77% |
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 Brandywine Realty (BDN) report earnings?
Brandywine Realty (BDN) is schdueled to report earning on Apr 22, 2025, TBA Not Confirmed.
What is Brandywine Realty (BDN) earnings time?
Brandywine Realty (BDN) earnings time is at Apr 22, 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 BDN EPS forecast?
BDN EPS forecast for the fiscal quarter 2025 (Q1) is -0.14.
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