Filing Flows › Hudson Pacific Properties (HPP) › Q4 2024
Hudson Pacific Properties (HPP) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 25, 2025
Hudson Pacific Properties (HPP) reported revenue of $210M for the fourth quarter 2024 (Q4 2024), -6% from a year earlier and +5% from the quarter before. Operating margin was -83.2%, net loss $173M (82.7% of revenue).
Hudson Pacific Properties, Q4 2024: revenue $210M (-6% year over year), operating margin -83.2%, net loss $173M, operating cash flow $162K. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $210M | +5% | -6% |
| Operating profit | −$175M | — | — |
| Net earnings | −$173M | — | — |
| Operating cash flow | $162K | -100% | -98% |
What changed
Revenue was $209.7M in Q4 2024, down 6% year over year and up 5% from the previous quarter. Office was the largest line at 83% of revenue.
Gross margin was 44.7%, down 3.6 points from a year earlier. Operating costs exceeded revenue by $174.5M, an operating margin of -83.2%. Operating expenses grew 41% against a revenue fall of 6%. The fastest-growing cost line was Other operating costs (+46%). The quarter ended with a net loss of $173.5M, wider than the previous quarter's $107.0M loss. Minority interests bore $6.5M of it: to shareholders the quarter was a loss of $167.0M.
Operating cash flow was $162K (down 98% year over year). Non-cash charges added back $89.1M of depreciation and amortization and $6.6M of share-based compensation. Working capital and other items added $78.0M. Capital expenditures of $62.7M exceeded it, leaving free cash flow of −$62.5M.
Questions
What was Hudson Pacific Properties' revenue in the fourth quarter 2024?
Hudson Pacific Properties (HPP) reported revenue of $210M for the fourth quarter 2024 (Q4 2024), -6% from a year earlier and +5% from the quarter before.
Was Hudson Pacific Properties profitable in the fourth quarter 2024?
Operating loss was $175M (-83.2% of revenue) and net loss $173M.