BDN Earnings Prediction
The chart below shows how BDN performed 10 days before and after its earnings report, based on data from the past quarters. Typically, BDN sees a -0.56% change in stock price 10 days leading up to the earnings, and a -3.60% change 10 days following the report. On the earnings day itself, the stock moves by -0.31%. This data can give you a slight idea of what to expect for the next quarter's release.
BDN Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
121.91M
-6.35%
-7.49%
Gross Margin
25.76%
-56.62%
-57.45%
Operating Margin
17.52%
-19.63%
-19.04%
Net Margin
-35.40%
-70.79%
-71.85%
EPS
-0.25
-72.53%
-73.96%
No Data Available
BDN Earnings Analysis
Brandywine Realty Trust Corporation (BDN.N) Earnings Conference Call
Positive
Occupancy Improvement Highlights: Wholly owned core portfolio occupancy improved to 87.8% and leased to 89.9%, reflecting strong demand and effective portfolio management.
Revenue Target Exceeded: Exceeded 2024 business plan spec revenue target by 8%, generating $26.4 million, showcasing robust revenue performance.
Leasing Activity Highlights: Leasing activity for the year reached approximately 2.3 million square feet, with the fourth quarter alone accounting for 783,000 square feet, the highest quarterly activity in 2024.
Leasing Mark to Market: Achieved a strong new leasing mark to market of 184% on both GAAP and cash basis, indicating favorable lease terms and tenant demand.
Asset Dispositions Success: Successfully completed over $300 million in asset dispositions, significantly exceeding the revised midpoint target of $150 million, enhancing liquidity and financial flexibility.
Negative
FFO Performance Analysis: FFO results were $0.17 for the fourth quarter and $0.85 for 2024, falling short of targets due to a $0.03 per share impact from reduced other income and $0.01 per share net dilution from accelerated disposition activity.
Fourth Quarter Net Loss: Fourth quarter net loss stood at $43.3 million or $0.25 per share, impacted by non-cash impairment charges totaling $23.8 million or $0.14 per share related to non-consolidated joint ventures.
FFO Guidance Decline: 2025 FFO guidance is set at a midpoint of $0.66 per share, which is $0.19 below the 2024 FFO of $0.85 per share, primarily due to increased expenses and interest charges from development projects.
Projected NOI Decline: 2025 GAAP NOI is projected to be approximately $18 million below 2024 levels, primarily due to asset sales, despite some offset from new operational properties.
Projected Payout Ratio Concerns: The 2025 CAD payout ratio is projected to be between 120% to 150%, significantly above historical averages, indicating potential cash flow challenges due to deferred tenant allowance payments.
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BDN Earning Call Sentiment
Earnings call transcript: Brandywine Realty Trust Q4 2024 misses EPS forecast
BDN.N
-1.01%Positive
The earnings call indicates several negative factors: competitive pressures in Austin, reduced FFO guidance, elevated dividend payout ratio, and increased interest expenses. Despite some positive aspects like strong leasing activity and debt reduction, the Q&A reveals management's vague responses about stabilization timelines and deferred tenant allowances. These concerns, along with a projected transitional year and no share repurchase plans, suggest a negative sentiment. The lack of clear guidance and potential financial strain contribute to a predicted stock price movement in the negative range over the next two weeks.