Paramount Group (PGRE) Reports In-Line Q1 EPS, Revenues Miss; Withdraws FY20 Guidance

Paramount Group (NYSE: PGRE) reported Q1 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter came in at $183.99 million versus the consensus estimate of $190.22 million.

Guidance

The Company had previously provided its 2020 guidance on February 12, 2020, prior to the coronavirus (COVID-19) global pandemic, which has materially impacted the U.S. and global economy. Given the economic uncertainty and rapidly-evolving circumstances related to the COVID-19 pandemic, the Company is withdrawing its previously issued 2020 guidance and is not providing an updated outlook at this time. The Company will discuss the first quarter results and provide commentary on its business performance during its first quarter conference call.

For earnings history and earnings-related data on Paramount Group (PGRE) click here.

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