Hudson Pacific Properties

Q2 FY2026 EarningsFY26 Q2 results presented a mixed performance with a revenue beat but a significant miss on GAAP profitability. Revenue of $188.3M slightly exceeded the $186.0M consensus (+1.25%), driven by resilient same-store Office NOI growth (+6.6% YoY) and improved Studio production activity. However, GAAP EPS of -$1.62 missed the -$0.73 consensus due to $50.4M in non-cash impairment charges related to the Quixote sound stage wind-down and asset held-for-sale. Cash from operations of $36.3M (for the six-month period) indicates stable underlying liquidity despite high leverage.