Orion Office REIT Q4 2023 FFO $0.33 Misses $0.34 Estimate, Sales $43.55M Miss $47.30M Estimate
Portfolio Pulse from Benzinga Newsdesk
Orion Office REIT (NYSE:ONL) reported Q4 2023 FFO of $0.33 per share, missing the consensus estimate of $0.34, and sales of $43.55M, below the $47.30M estimate. This represents a 13.07% decrease in sales compared to the same period last year.
February 27, 2024 | 9:46 pm
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NEGATIVE IMPACT
Orion Office REIT reported lower than expected Q4 2023 FFO and sales, missing analyst estimates and showing a significant year-over-year decline in sales.
Missing both FFO and sales estimates, especially with a notable year-over-year sales decline, typically leads to negative investor sentiment in the short term. This could result in downward pressure on ONL's stock price as the market reacts to the earnings miss and potential concerns over the company's growth and operational efficiency.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100