The earnings call highlighted strong leasing activity and positive financial metrics, particularly in the Sun Belt markets, alongside the exciting redevelopment project in St. Petersburg. However, challenges in maintaining occupancy levels were noted. The overall sentiment of the call is positive due to the significant achievements and growth potential discussed.

Company Guidance

During the City Office REIT First Quarter 2025 Earnings Conference Call, the company provided several key metrics and guidance updates. The company's net operating income (NOI) for the first quarter was reported at $26 million, a $500,000 increase from the previous quarter, driven by higher revenue and lower operating expenses. Core funds from operations (FFO) reached $12.3 million, or $0.30 per share, marking a $600,000 increase from the fourth quarter. The company reported an 8.5% positive cash releasing spread on renewals over the past year and a 4.4% increase in same-store cash NOI compared to the prior year. Portfolio occupancy was slightly down at 84.9%, but the company anticipates year-end occupancy to be within the 85% to 87% range, supported by 143,000 square feet of signed leases not yet commenced. Total debt stood at $646 million, with a net debt to EBITDA ratio of 6.7 times, and a credit facility maturing in November 2025. Additionally, the company highlighted its ongoing redevelopment project in St. Petersburg, Florida, expecting a construction period of approximately three years after presales commence.

City Center Redevelopment Project

City Office REIT announced an agreement with Property Markets Group to redevelop City Center's parking structure into a 49-story residential condominium and mixed-use tower under the Waldorf Astoria Residences brand, with PMG investing $17 million in predevelopment activities.

Strong Leasing Activity

City Office REIT completed 144,000 square feet of new and renewal leasing in Q1, including a significant lease at Papago Tech in Phoenix and a new 66,000 square foot tenant at Greenwood Boulevard in Orlando.

Positive Cash NOI and Rent Growth

Same-store cash NOI increased by 4.4% in Q1 compared to the prior year, with an 8.5% positive cash releasing spread on renewals over the last 12 months.

Improved Net Operating Income

Net operating income in Q1 was $26.0 million, $500,000 higher than Q4, driven by higher revenue and lower operating expenses.

City Office REIT (CIO) 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 >

CIO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	-0.12 / -	-0.11	―	―	―
Jul 31, 2025	2025 (Q2)	-0.10 / -2.66	-0.14	-1800.00% (-2.52)	―	―
May 02, 2025	2025 (Q1)	-0.10 / -0.09	-0.06	-50.00% (-0.03)
Feb 20, 2025	2024 (Q4)	-0.10 / -0.31	-0.11	-181.82% (-0.20)
Oct 31, 2024	2024 (Q3)	-0.12 / -0.11	-0.05	-120.00% (-0.06)
Aug 01, 2024	2024 (Q2)	-0.09 / -0.14	-0.06	-133.33% (-0.08)
May 03, 2024	2024 (Q1)	-0.13 / -0.06	-0.03	-100.00% (-0.03)
Feb 22, 2024	2023 (Q4)	-0.06 / -0.11	-0.36	69.44% (+0.25)
Nov 09, 2023	2023 (Q3)	-0.07 / -0.05	0	―
Aug 03, 2023	2023 (Q2)	-0.04 / -0.06	0.02	-400.00% (-0.08)

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

CIO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$6.92	$6.94	+0.29%
May 02, 2025	$5.16	$4.88	-5.43%
Feb 20, 2025	$4.89	$4.96	+1.43%
Oct 31, 2024	$5.08	$4.83	-4.92%

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 City Office REIT (CIO) report earnings?

City Office REIT (CIO) is schdueled to report earning on Nov 06, 2025, Before Open (Confirmed).

What is City Office REIT (CIO) earnings time?

City Office REIT (CIO) earnings time is at Nov 06, 2025, 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 CIO EPS forecast?

CIO EPS forecast for the fiscal quarter 2025 (Q3) is -0.12.

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