Paramount Global (PARAA) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -25.64%. A quarter ago, it was expected that this company would post earnings of $0.60 per share when it actually produced a loss of $0.11, delivering a surprise of -118.33%.Over the last four quarters, the compa ...

Paramount Global said it expects the merger with Skydance Media to close in the first half of 2025 despite chatter around the deal, which requires a greenlight from the FCC. “Completion of the Skydance transactions is subject to regulatory approvals and customary closing conditions. The transactions are anticipated to close in the first half of 2025. Until then, Paramount continues to operate in the normal course of business,” the company said in its first-quarter earnings release with solid numbers toppin ...

Paramount Global (PARA) is scheduled to report its first-quarter 2025 results on May 8.The Zacks Consensus Estimate for PARA’s first-quarter 2025 revenues is currently pegged at $7.1 billion, indicating a 7.56% decrease from the year-ago quarter’s reported figure.The consensus mark for earnings is pinned at 30 cents per share, which has been revised downward by 21.05% over the past 30 days. The figure suggests a 51.61% decrease from the year-ago reported figure.PARA surpassed the Zacks Consensus Estimate fo ...

Wall Street analysts expect Paramount Global-B (PARA) to post quarterly earnings of $0.30 per share in its upcoming report, which indicates a year-over-year decline of 51.6%. Revenues are expected to be $7.1 billion, down 7.6% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 3.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Be ...

Paramount Global-B (PARA) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on May 8, 2025, might help the stock move higher if these key numbers are better than e ...

Paramount Group (PGRE) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Tom Hennessy - Vice President of Business Development and Investor RelationsAlbert Behler - Chairman, CEO & PresidentPeter Brindley - Executive VP & Head of Real EstateWilbur Paes - COO, CFO & TreasurerManus E - Senior AssociateThomas Catherwood - MD & REITs Equity Research Conference Call Participants Blaine Heck - Executive Director & Senior Equity Research AnalystDylan Burzinski - Equity Research Analyst Operator G ...

Paramount Group (PGRE) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Tom Hennessy - Vice President of Business Development and Investor RelationsAlbert Behler - Chairman, CEO & PresidentPeter Brindley - Executive VP & Head of Real EstateWilbur Paes - COO, CFO & TreasurerManus E - Senior AssociateThomas Catherwood - MD & REITs Equity Research Conference Call Participants Blaine Heck - Executive Director & Senior Equity Research AnalystDylan Burzinski - Equity Research Analyst Operator G ...

Paramount Group (PGRE) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Speaker0 Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Paramount Group First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. Please note that this conference call is being recorded today, 05/01/2025. I will now turn the call over to Tom Hennessey, Vice President of Business Developme ...

2025 Paramount Group Investor Presentation A P R I L Cautionary Note on Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words "assumes," "believes," "estimates," "expects," "guidance," "intends," "plans," "projects" and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because ...

Financial Performance - For the full year 2025, the estimated net loss attributable to common stockholders is projected to be between $85 million and $70 million[13]. - Estimated Core FFO per share for 2025 is expected to range from $0.51 to $0.57, with no prior guidance provided[13]. - Same Store NOI is projected to decrease by 9.0% to 13.0% for the year, indicating a challenging market environment[13]. - For the three months ended March 31, 2025, the company's share of Cash NOI was $83.7 million, down from $89.0 million in the same period last year, reflecting a 4.1% decline[14]. - The Same Store NOI for the three months ended March 31, 2025, decreased by 5.4% compared to the same period in 2024[14]. - The company reported a net loss per share of $0.05 for the three months ended March 31, 2025, compared to a profit of $0.05 in the same period last year[14]. - Total revenues for the three months ended March 31, 2025, were $187,019, a decrease of 0.5% compared to $188,877 for the same period in 2024[17]. - Rental revenue for the same period was $179,021, slightly down from $179,723 in the previous year, representing a decrease of 0.4%[18]. - Net loss attributable to common stockholders for the three months ended March 31, 2025, was $10,026, compared to a net income of $9,865 for the same period in 2024[17]. - The company reported operating expenses of $78,050 for the three months ended March 31, 2025, which is an increase of 8.2% compared to $71,740 in the same period last year[17]. - Net loss for the three months ended March 31, 2025, was $5,317,000 compared to a net income of $16,731,000 for the same period in 2024[19]. - Funds from Operations (FFO) attributable to common stockholders for Q1 2025 was $36,880,000, down 38.4% from $59,821,000 in Q1 2024[19]. - Core FFO attributable to common stockholders decreased to $37,891,000 in Q1 2025 from $47,938,000 in Q1 2024, representing a decline of 21.0%[20]. - PGRE's share of EBITDAre for Q1 2025 was $78,139,000, down 22.1% from $100,355,000 in Q1 2024[22]. - Net Operating Income (NOI) for Q1 2025 was $86,788,000, a decrease of 7.5% compared to $93,583,000 in Q1 2024[23]. - Cash NOI for Q1 2025 was $83,677,000, down 5.0% from $88,977,000 in Q1 2024[23]. - The company reported a significant increase in interest and debt expense, which rose to $45,440,000 in Q1 2025 from $42,787,000 in Q1 2024[22]. - The company reported a non-cash gain on extinguishment of IPO related tax liability of $15,437,000 in Q4 2024, which was not present in Q1 2025[22]. - The company reported a decrease in Same Store NOI of 5.4% for the three months ended March 31, 2025, totaling $87,339,000 compared to $92,369,000 in 2024[27]. - The company sold a 45.0% equity interest in 900 Third Avenue on January 17, 2025, which is reflected in the adjustments to prior period's NOI[28]. - Total revenues for Q1 2025 reached $106,319,000, representing an increase from $102,637,000 in Q1 2024, a growth of approximately 3.3% year-over-year[30]. - Net income for Q1 2025 was $12,546,000, compared to $14,887,000 in Q1 2024, indicating a decrease of about 15.7% year-over-year[30][32]. - Net operating income for Q1 2025 was $64,810,000, up from $68,164,000 in Q1 2024, reflecting a decline of approximately 4.9% year-over-year[30][32]. - Funds from operations (FFO) for Q1 2025 totaled $29,198,000, compared to $31,272,000 in Q1 2024, a decrease of about 6.6% year-over-year[30][32]. - The company reported a net loss of $9,042,000 for the three months ended March 31, 2025, reflecting challenges in the market[36]. Assets and Liabilities - Total assets increased to $7,947,478 as of March 31, 2025, up from $7,871,503 at the end of 2024, reflecting a growth of 1%[16]. - Cash and cash equivalents rose to $426,952, an increase of 13.8% from $375,056 as of December 31, 2024[16]. - Total liabilities decreased slightly to $3,846,547 from $3,862,006, a reduction of 0.4%[16]. - The company’s equity increased to $4,100,931 as of March 31, 2025, compared to $4,009,497 at the end of 2024, marking a growth of 2.3%[16]. - Total assets as of March 31, 2025, amounted to $4,117,917,000, with real estate net valued at $3,522,958,000[28]. - Total liabilities were reported at $2,397,078,000, with notes and mortgages payable net at $2,322,477,000[28]. - Paramount Group, Inc. equity stood at $856,295,000, while noncontrolling interests were $495,340,000, leading to total equity of $1,351,635,000[29]. - Total debt as of March 31, 2025, was $5,498,456,000, with PGRE's share of net debt at $3,093,470,000[40]. - The company's net debt to annualized adjusted EBITDAre ratio was 9.9x, indicating a slight increase from the previous period[41]. - The total market capitalization as of March 31, 2025, was $4,634,027,000[40]. - The company has a revolving credit facility with total debt to total assets ratio at 49.2%, well below the 60% threshold[44]. - Consolidated debt totals $3,610,580, with a weighted average interest rate of 4.44%[45]. - PGRE's share of total debt excluding non-core assets is $3,247,440[45]. Leasing and Occupancy - The company anticipates leasing activity of approximately 900,000 to 1,100,000 square feet for the year[13]. - The Same Store Leased percentage as of March 31, 2025, was 86.2%, an increase of 1.4% from December 31, 2024[15]. - The weighted average Same Store Leased percentage for New York was 87.4%, while for San Francisco it was 82.3% as of March 31, 2025[15]. - The total portfolio has a weighted average leased percentage of 83.2% and an occupied percentage of 80.5%[48]. - The New York portfolio's leased percentage is 87.4%, showing an increase from previous quarters[48]. - The San Francisco portfolio's leased percentage is 72.6%, reflecting a slight decrease compared to earlier figures[48]. - The office segment has a 90.0% ownership and a 91.7% occupancy rate at 1633 Broadway, generating an annualized rent of $176,692,000[51]. - The retail segment at 1301 Avenue of the Americas has a 100.0% occupancy rate, with an annualized rent of $191,538,000[51]. - The property at One Market Plaza has a 49.0% ownership, with a 90.7% occupancy rate and an annualized rent of $163,169,000[53]. - The company is focusing on market expansion and enhancing tenant diversity across its properties[54]. - As of March 31, 2025, PGRE's total square feet leased reached 283,874, with PGRE's share being 186,447 square feet[57]. - The total expiring leases for 2025 amount to 1,116,573 square feet, with an annualized rent of $70,619, or $94.61 per square foot[58]. - For 2026, total expiring leases are projected at 1,508,069 square feet, with an annualized rent of $89,096, equating to $89.59 per square foot[58]. - The percentage increase in straight-line rent for 2025 is 7.1%, compared to the prior straight-line rent[57]. - The average free rent period for new leases is 12.3 months, with an average of 1.0 month per annum[57]. - The company has a diversified tenant base, with legal services accounting for 21.9% of occupied square feet[58]. - The total square feet of month-to-month leases is 5,253, representing 0.1% of annualized rent[59]. - The remaining leases for 2026 total 5,334,341 square feet, with an annualized rent of $385,459, or 63.0% of total annualized rent[59]. Capital Expenditures - Total capital expenditures for the three months ended March 31, 2025, amounted to $48,004,000, with $40,293,000 attributed to New York and $7,696,000 to San Francisco[63]. - Capital expenditures to maintain assets for the three months ended March 31, 2025, were $12,047,000, compared to $10,944,000 for the same period in 2024[63]. - Second generation tenant improvements for the three months ended March 31, 2025, totaled $27,355,000, up from $24,621,000 in 2024[63]. - The total capital expenditures attributable to PGRE's share for the three months ended March 31, 2025, were $42,575,000[63]. - The total capital expenditures for redevelopment for the three months ended March 31, 2025, were $1,290,000[63]. Strategic Focus - The company plans to focus on expanding its real estate portfolio and enhancing operational efficiencies in the upcoming quarters[17]. - The company is focused on market expansion and redevelopment strategies, particularly in its non-core assets[36]. - Future outlook includes potential redevelopment opportunities for properties currently out-of-service[51].