Hudson Pacific (HPP) Q2 2026 Earnings Call Transcript

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DATE

Wednesday, Aug. 5, 2026 astatine 12:00 p.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer - Victor Coleman

• President - Mark Lammas

• Chief Financial Officer - Harout Diramerian

• Executive Vice President of Leasing - Art Suazo

• Executive Vice President, Investor Relations and Marketing - Laura Campbell

Full Conference Call Transcript

Operator: Hello, everyone. Thank you for joining us, and invited to the Hudson Pacific Properties Second Quarter 2026 Earnings Call. [Operator Instructions] I volition present manus the league implicit to Laura Campbell, Executive Vice President, Investor Relations and Marketing. Laura, delight spell up

Laura Campbell: Good afternoon, everyone. Thanks for joining us. With maine connected the telephone contiguous are Victor Coleman, Chairman and CEO; Mark Lammas, President; Harout Diramerian, CFO; and Art Suazo, EVP of Leasing. This morning, we filed our net merchandise and supplemental connected an 8-K with the SEC, and some are present disposable connected our website, on with an audio webcast of this telephone for replay. Some of the accusation we'll stock connected the telephone contiguous is forward-looking successful nature. Please notation our net merchandise and supplemental for statements regarding forward-looking accusation arsenic good arsenic the reconciliation of non-GAAP fiscal measures utilized connected this call. Today, Victor volition sermon our 2nd 4th results and existent marketplace trends.

Mark volition supply item connected our bureau and workplace operations and Harout volition reappraisal our fiscal results of 2026 outlook. Thereafter, we'll beryllium blessed to instrumentality your questions. Victor?

Victor Coleman: Thanks, Laura. Hello, everyone, and invited to our 2nd 4th call. This was some a grounds leasing and highly productive 4th for Hudson Pacific. We signed 1.3 cardinal quadrate feet of caller and renewal bureau leases headlined by a landmark 891,000 square-foot 24-year lease with the City and County of San Francisco astatine 1455 Market, which locks successful astir 1/4 of a period of currency travel visibility. Occupancy accrued 470 ground points, our 4th consecutive 4th of gains and improved show crossed our bureau and workplace portfolios drove same-store NOI up 7.5%. Together with continued outgo reductions and Quixote restructuring, we astir tripled halfway FFO and achieved a 30% summation connected a per stock basis.

We besides stayed disciplined connected capital, maintaining full liquidity of $876 cardinal portion continuing to execute our plus disposition plan. And importantly, arsenic we look ahead, we reloaded our leasing pipeline to 2.4 cardinal quadrate feet. That leasing spot is playing retired against a constructive task and IPO backdrop, U.S. task concern totaled $145 cardinal successful the 2nd quarter, its 2nd largest and strongest 4th ever with -- infrastructure, robotics and abstraction tech. This each points to a wider, much divers tenant basal alternatively than a azygous assemblage bed, which volition payment our portfolio implicit time.