Orion Office Reit, Inc. (ONL)
NYSE:ONL
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Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.07Last Year’s EPS
-0.45Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a cautiously positive operational narrative: clear signs of stabilization and progress (strong leasing velocity, meaningful occupancy improvement, disciplined disposals, increased DUA exposure, solid liquidity and affirmed guidance) are balanced against near-term pressures (revenue decline, widened net loss, sharply higher CapEx costs, elevated leverage and a full write-down of a JV investment). Management emphasizes a credible plan to reduce carry costs and recycle capital, but material risks remain related to leverage, the JV outcome, and timing of leasing converting to recurring earnings.Company Guidance
Strong Leasing Momentum and Long-Term Leases
Completed 355,000 sq ft of leasing activity in Q1; notable 172,000 sq ft full-building, 12-year lease in Irving, TX. New leases signed during the quarter averaged nearly 12 years WALT, and consolidated portfolio WALT is approaching six years.
Occupancy and Rent Improvement
Consolidated portfolio occupancy rose to 83.1% at quarter end, up from 73.7% in Q1 2025 (increase of 9.4 percentage points). Cash rent spreads on Q1 renewals increased for the fourth consecutive quarter, up 2.5%.
Healthy Leasing Pipeline
Pipeline in excess of 1 million sq ft in discussion or documentation, including several full-building prospects and potential longer-duration renewals expected to support continued leasing momentum.
Active and Accretive Dispositions Reducing Carrying Costs
Since the spin-off sold 38 properties totaling 4.1 million sq ft. Q1 and subsequent dispositions (including Glen Burnie and Deerfield) generated meaningful proceeds, and 2025–2026 vacant property sales are estimated to save more than $12 million in annual carrying costs.
Accretive Sale Example and Capital Recycling
Glen Burnie disposition realized pricing at a 5% cap on expiring rent (≈ $188/sq ft) and was described as a very successful and accretive sale. Company is recycling capital selectively into accretive DUA assets (e.g., $15 million acquisition of Barilla America HQ/R&D).
Growth in Dedicated Use Assets (DUA)
DUA share of consolidated portfolio by annualized base rent increased to 37.1% from 32.2% year-over-year (up 4.9 percentage points), consistent with strategy to tilt portfolio to medical, lab, R&D, flex, and government assets with more durable cash flows.
Solid Liquidity and Refinancing Progress
Total liquidity of $148.5 million (including $60.5 million cash and $88.0 million revolver capacity). Entered a new senior secured revolver with lowered interest rate and extended maturity (to Feb 2029 with extension options); subsequently repaid $25 million to increase available capacity.
Core FFO Improvement and Affirmed Guidance
Core FFO per diluted share increased to $0.21 from $0.19 year-over-year (+$0.02, ~+10.5%). Company affirmed full-year 2026 core FFO guidance of $0.69 to $0.76 per diluted share, signaling management confidence in trajectory.
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
ONL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $2.84 | $2.88 | +1.41% |
Mar 05, 2026 | $2.52 | $2.42 | -3.92% |
Nov 06, 2025 | $2.40 | $2.55 | +6.12% |
Aug 06, 2025 | $2.49 | $2.46 | -1.16% |
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 Orion Office Reit, Inc. (ONL) report earnings?
Orion Office Reit, Inc. (ONL) is schdueled to report earning on Aug 12, 2026, After Close (Confirmed).
What is Orion Office Reit, Inc. (ONL) earnings time?
Orion Office Reit, Inc. (ONL) earnings time is at Aug 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is ONL EPS forecast?
ONL EPS forecast for the fiscal quarter 2026 (Q2) is -0.07.