NYSE$PKST

Peakstone Realty Trust · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Peakstone Realty Trust reported second quarter results, selling five properties for $130.8 million and increasing year-to-date sales to over $300 million, while continuing deleveraging of balance sheet.

Peakstone Realty Trust reported a revenue of $62.5 million for the second quarter of 2023. The company experienced a net loss of $(452.4) million, primarily due to non-cash impairments, property dispositions, and non-recurring expenses. Despite the net loss, the company's portfolio occupancy increased to 96%, and it continued to execute its disposition and deleveraging strategy.

  • Revenue was approximately $62.5 million.
  • Net loss was approximately $(452.4) million, or $(11.59) per basic and diluted share, impacted by non-cash impairments, property dispositions, and non-recurring expenses.
  • Adjusted Funds from Operation (AFFO) was $0.73 per basic and diluted share/unit.
  • Portfolio occupancy increased to 96% based on rentable square feet.

Headline financials

Total Revenue

$62.5M

Previous: $123M-49.2%
EPS (adj)

$0.73

Previous: -$1.98+136.9%
Capital Expenditures

-$1.72M

Previous: -$5.84M+70.6%
Free Cash Flow

-$418M

Previous: -$78M-435.8%
Net Income

-$416M

Previous: -$72.2M-476.8%
Operating Income

-$391M

Previous: -$48.6M-703.1%
Gross Profit

$62.5M

Previous: $123M-49.2%
Cash & Equivalents

$361M

Previous: $203M+78.0%
Total Assets

$3.01B

Previous: $5.15B-41.5%
Stock-Based Comp

$4.03M

Previous: $1.69M+139.4%

Revenue & EPS history

Peakstone · Revenue · Quarterly

$62.5M

Q2 2023-49.2%vs Q2 2022
Beat estimate in 5 of 10 quarters(50%)
ActualEstimate

Revenue by segment

Peakstone · $62.5M total across 1 segment · Q2 2023

  • Rental Income
    $62.5M—

Forward guidance

The company did not provide specific forward guidance in this earnings report.

Historical earnings impact

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

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2023

Historical avgQ2 2023

-0.0%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+1.3%

Avg return

30 days after

29%

6 / 21 earnings

Positive

+9.9%

Q1 2023

Best reaction

-12.5%

Q2 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026———
Q3 2025-1.3%-6.1%-1.0%
Q2 2025-12.5%-10.6%-1.7%
Q1 2025+4.1%+8.7%+15.1%
Q4 2024-2.3%+2.4%+23.5%
Q3 2024+0.8%+0.5%+5.5%
Q2 2024+2.7%+1.1%+17.3%
Q1 2024-6.0%+3.9%-15.0%
Q4 2023+2.9%+4.1%+17.9%
Q3 2023+3.4%+9.8%+28.8%
Q2 2023-2.5%-3.9%-14.3%
Q1 2023+9.9%+10.9%+55.0%
Q2 2022+0.0%+0.0%-53.7%
Q4 2022+0.0%+0.0%-53.7%
Q3 2022+0.0%+0.0%+0.0%
Q1 2022+0.0%+0.0%-1.7%
Q2 2021+0.0%+0.0%+0.0%
Q4 2021+0.0%+0.0%+15.2%
Q3 2021+0.0%+0.0%-9.0%
Q1 2021+0.0%+0.0%-1.1%
Q4 2020+0.0%+0.0%+0.0%
Q2 2020+0.0%+0.0%+0.0%
Q3 2020———
Q1 2020———
Q4 2019———
Q3 2019———
Q2 2019———
Q1 2019———
Q4 2018———
Q3 2018———
Q2 2018———
Q1 2018———
Q4 2017———
Q3 2017———
Q2 2017———
Q1 2017———
Q4 2016———
Q3 2016———
Q2 2016———
Q1 2016———
Q4 2015———
Q3 2015———
Q2 2015———
Q1 2015———
Q4 2014———
Q3 2014———
Q2 2014———
Q1 2014———
Q4 2013———
Q3 2013———
Q2 2013———
Q1 2013———

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro