Hudson Pacific Properties (NYSE: HPP) reported Q2 EPS of $0.02, $0.02 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $180.5 million versus the consensus estimate of $176.68 million.

2017 Outlook

Guidance Narrowed

The Company is narrowing its full-year 2017 FFO guidance to a range of $1.93 to $2.01 per diluted share, excluding specified items, maintaining the previous mid-point of $1.97 per diluted share. The guidance reflects the transactional activity referenced in this press release and in earlier announcements. As with the Company’s previous guidance, this estimate also includes Cisco’s early lease termination payment of $10.4 million, reduced for GAAP purposes by the write-off of approximately $5.9 million of non-cash items (i.e. straight-line rent receivable and above/below-market rent lease adjustment), amortized beginning with the second quarter of this year at approximately $1.5 million per quarter. The full-year 2017 FFO estimate reflects management’s view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels and the earnings impact of events referenced in this press release, but otherwise excludes any impact from future unannounced or speculative acquisitions, dispositions, debt financings or repayments, recapitalizations, capital market activity or similar matters. There can be no assurance that the actual results will not differ materially from this estimate.

For earnings history and earnings-related data on Hudson Pacific Properties (HPP) click here.