Office Props IT Q1 2024 FFO $0.79 Misses $0.81 Estimate, Sales $139.435M Beat $129.768M Estimate
Portfolio Pulse from Benzinga Newsdesk
Office Props IT (NASDAQ:OPI) reported Q1 2024 FFO of $0.79 per share, missing the $0.81 estimate, and sales of $139.435M, beating the $129.768M estimate. This represents a 27.52% decrease in earnings and a 5.30% increase in sales from the same period last year.
May 01, 2024 | 10:51 pm
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NEGATIVE IMPACT
Office Props IT reported a Q1 2024 FFO miss and a sales beat, with a significant decrease in earnings compared to last year.
The miss in FFO per share expectations, coupled with a significant year-over-year decrease in earnings, is likely to negatively impact investor sentiment in the short term. However, the beat on sales estimates and year-over-year sales growth may provide some offsetting positive sentiment.
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IMPORTANCE 90
RELEVANCE 100