The earnings call conveyed a positive sentiment overall, driven by strong leasing performance, increased defense spending, and improved financial metrics. Despite some challenges such as declining cash rent spreads and project delays, the company's outlook remains optimistic with anticipated opportunities in defense-related projects.

Company Guidance -

Q3 2025

During the COPT Defense Properties Second Quarter 2025 Results Conference Call, the company provided revised guidance reflecting their strong performance in the first half of the year. They increased the midpoint of their FFO per share guidance by $0.01 and raised the same-property cash NOI growth midpoint by 50 basis points. Tenant retention midpoint was also increased to 82.5%, and the full-year target for vacancy leasing was raised by 50,000 square feet. Additionally, the call highlighted the impact of the recent defense budget appropriation, with a significant $150 billion increase over four years, emphasizing future opportunities stemming from projects like the Golden Dome missile defense shield. The company also anticipates strong tailwinds from the heightened defense spending, expecting sustained demand for facility solutions that support key defense initiatives.

Record Leasing Performance

The company signed 353,000 square feet of vacancy leasing during the first half of the year, achieving 88% of the initial full-year target. Tenant retention was strong at 90% for the quarter and 82% year-to-date, with a total portfolio lease rate of 95.6%, the highest in nearly 20 years.

Increase in Defense Spending

The One Big Beautiful Bill Act appropriates an additional $150 billion to Defense spending over 4 years, with $113 billion allocated to 2026. This provides a positive backdrop for future business strength.

Guidance Increase

Based on strong performance, the company increased the midpoint of FFO per share by $0.01, increased same-property cash NOI growth by 50 basis points, and increased the full-year target for vacancy leasing by 50,000 square feet.

Strong Financial Performance

FFO per share as adjusted was $0.68, $0.02 above the midpoint of guidance, representing a 6.3% increase year-over-year.

Positive Outlook for 2026

Expectations are high for 2026, with anticipated strong defense spending and potential new opportunities related to the Golden Dome project and Space Command.

COPT Defense Properties (CDP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CDP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.34 / -	0.32	―	―	―
Jul 28, 2025	2025 (Q2)	0.34 / 0.34	0.31	9.68% (+0.03)
Apr 28, 2025	2025 (Q1)	0.33 / 0.31	0.29	6.90% (+0.02)
Feb 06, 2025	2024 (Q4)	0.33 / 0.31	0.3	3.33% (+0.01)
Oct 28, 2024	2024 (Q3)	0.31 / 0.32	-1.94	116.49% (+2.26)
Jul 29, 2024	2024 (Q2)	0.31 / 0.31	0.27	14.81% (+0.04)
Apr 25, 2024	2024 (Q1)	0.29 / 0.29	0.7	-58.57% (-0.41)
Feb 08, 2024	2023 (Q4)	0.31 / 0.30	0.45	-33.33% (-0.15)
Oct 26, 2023	2023 (Q3)	0.27 / -1.94	0.27	-818.52% (-2.21)
Jul 27, 2023	2023 (Q2)	0.27 / 0.27	0.29	-6.90% (-0.02)

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

CDP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 28, 2025	$27.95	$27.60	-1.25%
Apr 28, 2025	$26.40	$25.30	-4.17%
Feb 06, 2025	$29.07	$28.85	-0.76%
Oct 28, 2024	$31.54	$31.48	-0.19%

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 Copt Defense Properties (CDP) report earnings?

Copt Defense Properties (CDP) is schdueled to report earning on Oct 23, 2025, After Close (Confirmed).

What is Copt Defense Properties (CDP) earnings time?

Copt Defense Properties (CDP) earnings time is at Oct 23, 2025, After Close (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 CDP EPS forecast?

CDP EPS forecast for the fiscal quarter 2025 (Q3) is 0.34.

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