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Piedmont Office (PDM) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2023, Piedmont Office (PDM - Free Report) reported revenue of $146.99 million, up 2% over the same period last year. EPS came in at $0.43, compared to $0.03 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $143.66 million, representing a surprise of +2.32%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Piedmont Office performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Rental and Tenant Reimbursement Revenue: $141.53 million versus $138.51 million estimated by two analysts on average.
Other property related income: $5.06 million versus the two-analyst average estimate of $5.08 million. The reported number represents a year-over-year change of +19.7%.
Property management fee revenue: $0.40 million versus $0.48 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +30.7% change.
Shares of Piedmont Office have returned -9.8% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Piedmont Office (PDM) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Piedmont Office (PDM - Free Report) reported revenue of $146.99 million, up 2% over the same period last year. EPS came in at $0.43, compared to $0.03 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $143.66 million, representing a surprise of +2.32%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Piedmont Office performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Rental and Tenant Reimbursement Revenue: $141.53 million versus $138.51 million estimated by two analysts on average.
- Other property related income: $5.06 million versus the two-analyst average estimate of $5.08 million. The reported number represents a year-over-year change of +19.7%.
- Property management fee revenue: $0.40 million versus $0.48 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +30.7% change.
View all Key Company Metrics for Piedmont Office here>>>Shares of Piedmont Office have returned -9.8% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.