Douglas Emmett (DEI) Reports In-Line Q1 EPS

Douglas Emmett (NYSE: DEI) reported Q1 EPS of $0.10, in-line with the analyst estimate of $0.10. Revenue for the quarter came in at $252.4 million versus the consensus estimate of $254.51 million.

GUIDANCE:

Douglas Emmett sees FY2023 EPS of $0.35-$0.41, versus the consensus of $0.36.

• We are adjusting our assumption for average office occupancy, which we now expect to be between 81% and 83% for the year. As a result, we adjusted our expected range of same property cash NOI growth to be between -1.5% and -0.5%, and for straight-line revenue to be between $1 million and $3 million. These adjustments are offset by the benefit of our stock repurchase so our guidance range for full year FFO per fully diluted share remains between $1.87 and $1.93. We expect Net Income Per Common Share - Diluted to be between $0.35 and $0.41. Our guidance does not include the impact of future property acquisitions or dispositions, stock sales or repurchases, financings, property damage insurance recoveries, impairment charges or other possible capital markets activities.

For earnings history and earnings-related data on Douglas Emmett (DEI) click here.

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