NYSE$ONL

Orion Office Reit Inc. · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Orion Office REIT announced first quarter 2022 results, with total revenue of $53.2 million and core FFO of $28.0 million, or $0.49 per share.

Orion Office REIT Inc. reported its first quarter 2022 results, highlighting a total revenue of $53.2 million and a Core FFO of $28.0 million, or $0.49 per share. The company secured 178,000 square feet of lease extensions and expansions in Texas and Georgia and reached an agreement to sell three properties for $13 million.

  • Total revenue reached $53.2 million.
  • Net loss attributable to common stockholders was $(9.9) million, or $(0.17) per share.
  • Funds from Operations (FFO) amounted to $26.7 million, or $0.47 per share.
  • Core FFO totaled $28.0 million, or $0.49 per share.

Headline financials

Total Revenue

$53.2M

Previous: $13M+308.4%
EPS (adj)

$0.49

Previous: $0.08+512.5%
Core FFO

$28M

No prior period
Occupancy Rate

88.3%

No prior period
Capital Expenditures

$0.00

No prior period
Free Cash Flow

-$9.91M

No prior period
Net Income

-$9.91M

Previous: $4.55M-317.7%
Operating Income

-$21M

No prior period
Gross Profit

-$15.3M

Previous: $11.6M-232.5%
Cash & Equivalents

$18.6M

No prior period
Total Assets

$1.75B

No prior period
Stock-Based Comp

$270K

No prior period

Revenue & EPS history

Orion Office REIT · Revenue · Quarterly

$53.2M

Q1 2022+308.4%vs Q1 2021
Beat estimate in 5 of 8 quarters(63%)
ActualEstimate

Forward guidance

The Company’s first quarter 2022 performance is in line with expectations and our guidance for fiscal year 2022 remains unchanged. As a reminder, the Company estimates the following guidance for fiscal year 2022: LowHighCore FFO per share$1.66-$1.74General and Administrative Expenses$17 million-$18 millionNet Debt to Adjusted EBITDA4.7x-5.5x

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-4.8%

Avg return

Earnings day

-6.1%

Avg return

5 days after

-9.1%

Avg return

30 days after

32%

7 / 22 earnings

Positive

+6.1%

Q3 2025

Best reaction

-29.4%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.8%+0.3%-2.4%
Q4 2025-3.1%-5.9%-14.5%
Q3 2025+6.1%-0.4%-15.9%
Q1 2025-2.5%+8.5%+5.5%
Q4 2024-29.4%-36.9%-51.9%
Q3 2024+1.8%-3.0%+1.3%
Q2 2024+0.3%-1.3%+8.8%
Q1 2024+0.6%+10.4%+3.0%
Q4 2023-14.8%-17.1%-18.8%
Q3 2023-1.2%+1.4%+10.5%
Q2 2023+4.2%+4.6%-10.7%
Q1 2023-2.7%-10.0%+3.5%
Q4 2022-0.7%-11.3%-12.2%
Q3 2022-1.7%-2.7%+1.7%
Q2 2022+0.3%+1.4%-8.2%
Q1 2022-2.4%-5.5%-4.9%
Q1 2021-2.4%-5.5%-4.9%
Q2 2021-14.1%-16.5%-24.1%
Q4 2020-14.1%-16.5%-24.1%
Q4 2021-14.1%-16.5%-24.1%
Q4 2019-14.1%-16.5%-24.1%
Q3 2021+0.8%+4.3%+5.7%
Q3 2020
Q2 2020
Q1 2020

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