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Piedmont Office (PDM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Piedmont Office (PDM - Free Report) reported $139.29 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.2%. EPS of $0.36 for the same period compares to -$0.14 a year ago.
The reported revenue represents a surprise of -2.97% over the Zacks Consensus Estimate of $143.56 million. With the consensus EPS estimate being $0.37, the EPS surprise was -2.70%.
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:
Rental and Tenant Reimbursement Revenue- Fixed payments: $109.39 million versus the two-analyst average estimate of $112.68 million. The reported number represents a year-over-year change of -5.1%.
Rental and Tenant Reimbursement Revenue- Variable payments: $23.44 million versus the two-analyst average estimate of $25.05 million. The reported number represents a year-over-year change of -10.8%.
Revenues- Other property related income: $5.57 million compared to the $5.73 million average estimate based on two analysts. The reported number represents a change of +10.1% year over year.
Revenues- Property management fee revenue: $0.90 million compared to the $0.43 million average estimate based on two analysts. The reported number represents a change of +126.3% year over year.
Revenues- Rental and tenant reimbursement revenue: $132.83 million versus $137.74 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.
Net income per share applicable to common stockholders-diluted: -$0.09 compared to the -$0.07 average estimate based on two analysts.
Shares of Piedmont Office have returned +5.9% over the past month versus the Zacks S&P 500 composite's +1.5% 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: Taking a Look at Key Metrics Versus Estimates
Piedmont Office (PDM - Free Report) reported $139.29 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.2%. EPS of $0.36 for the same period compares to -$0.14 a year ago.
The reported revenue represents a surprise of -2.97% over the Zacks Consensus Estimate of $143.56 million. With the consensus EPS estimate being $0.37, the EPS surprise was -2.70%.
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:
- Rental and Tenant Reimbursement Revenue- Fixed payments: $109.39 million versus the two-analyst average estimate of $112.68 million. The reported number represents a year-over-year change of -5.1%.
- Rental and Tenant Reimbursement Revenue- Variable payments: $23.44 million versus the two-analyst average estimate of $25.05 million. The reported number represents a year-over-year change of -10.8%.
- Revenues- Other property related income: $5.57 million compared to the $5.73 million average estimate based on two analysts. The reported number represents a change of +10.1% year over year.
- Revenues- Property management fee revenue: $0.90 million compared to the $0.43 million average estimate based on two analysts. The reported number represents a change of +126.3% year over year.
- Revenues- Rental and tenant reimbursement revenue: $132.83 million versus $137.74 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.
- Net income per share applicable to common stockholders-diluted: -$0.09 compared to the -$0.07 average estimate based on two analysts.
View all Key Company Metrics for Piedmont Office here>>>Shares of Piedmont Office have returned +5.9% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.