NYSE$PGRE

Paramount Group Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Paramount announced first quarter results and completed share repurchases, but withdrew full year guidance.

Paramount Group reported net income attributable to common stockholders of $3.3 million, or $0.01 per diluted share. Core Funds from Operations (FFO) attributable to common stockholders was $61.5 million, or $0.27 per diluted share. The company withdrew its previously issued 2020 guidance due to economic uncertainty related to the COVID-19 pandemic.

  • Net income attributable to common stockholders was $3.3 million, or $0.01 per diluted share.
  • Core Funds from Operations (FFO) attributable to common stockholders was $61.5 million, or $0.27 per diluted share.
  • Same Store Cash Net Operating Income (NOI) increased by 4.3%.
  • The Company withdrew its previously issued 2020 guidance due to the COVID-19 pandemic.

Headline financials

Total Revenue

$184M

Previous: $192M-4.1%
EPS (adj)

$0.27

Previous: $0.24+12.5%
Leased Occupancy

95.9%

No prior period
Capital Expenditures

-$30.5M

Previous: -$27.9M-9.0%
Free Cash Flow

-$3.5M

Previous: $66.5M-105.3%
Net Income

$3.35M

Previous: $3.71M-9.7%
Operating Income

$46.1M

Previous: $42.1M+9.4%
Gross Profit

$117M

Previous: $123M-5.2%
Cash & Equivalents

$378M

Previous: $342M+10.3%
Total Assets

$8.75B

Previous: $8.72B+0.4%
Stock-Based Comp

$5.4M

Previous: $7.6M-29.0%

Revenue & EPS history

Paramount · Revenue · Quarterly

$184M

Q1 2020-4.1%vs Q1 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Paramount · $184M total across 2 segments · Q4 2021

  • Rental Revenue
    $172M
  • Fee and Other Income
    $12.4M

Forward guidance

Due to 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.

Historical earnings impact

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

Avg. return before/after earnings

Based on 16 quarterly earnings reports

Historical avg

+0.2%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+2.1%

Avg return

30 days after

52%

23 / 44 earnings

Positive

+8.9%

Q3 2023

Best reaction

-6.9%

Q2 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025
Q3 2025+0.2%+0.5%+0.9%
Q2 2025+1.8%+6.8%+19.8%
Q1 2025+7.2%+7.9%+41.4%
Q4 2024-2.0%-5.4%-7.4%
Q3 2024-2.6%-0.6%-1.8%
Q2 2024-2.1%-12.0%-2.5%
Q1 2024+3.4%+4.3%-2.1%
Q4 2023+7.1%+7.3%+2.0%
Q3 2023+8.9%+10.1%+9.8%
Q2 2023-6.9%-6.9%-0.8%
Q1 2023+6.4%+5.7%+6.6%
Q4 2022-3.1%-4.8%-28.9%
Q3 2022-4.5%-3.9%-5.6%
Q2 2022+1.1%+4.7%-3.9%
Q1 2022-1.8%-6.0%-9.2%
Q4 2021-3.7%+16.7%+15.1%
Q3 2021-4.0%
Q2 2021-0.9%
Q1 2021+1.0%
Q4 2020+0.2%
Q3 2020-3.4%
Q2 2020-1.4%
Q1 2020+7.5%
Q4 2019+1.9%
Q3 2019+2.9%
Q2 2019-2.2%
Q1 2019+0.0%
Q4 2018-2.1%
Q3 2018+0.8%
Q2 2018-1.4%
Q1 2018+1.3%
Q4 2017+0.4%
Q3 2017+0.5%
Q2 2017+1.0%
Q1 2017+1.0%
Q4 2016-1.4%
Q3 2016-3.1%
Q2 2016+1.2%
Q1 2016-0.5%
Q4 2015-1.0%
Q3 2015+0.9%
Q2 2015-1.0%
Q1 2015+1.0%
Q4 2014+1.0%
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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