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Franklin Street Properties (FSP)
NYSE MKT:FSP
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.03Last Year’s EPS
$0.03Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 3.24%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected both positive strides in reducing debt and active property dispositions, alongside challenges such as decreased lease occupancy, a GAAP net loss, and a difficult market for office dispositions. While progress has been made, the company faces significant hurdles, particularly in the office real estate market.Company Guidance
During the Franklin Street Properties (FSP) Third Quarter 2024 Earnings Call, several key metrics were highlighted. The company reported funds from operations (FFO) of approximately $2.7 million per share, alongside a GAAP net loss of about $15.6 million or $0.15 per share for the third quarter. A significant focus was on property dispositions, with recent sales including the Pershing Park Plaza in Atlanta for $34 million, contributing to a year-to-date total of $100 million in gross property sales. The company notably reduced total liabilities by about $140 million, from approximately $456 million at the end of 2023 to around $316 million as of September 30, 2024. Leasing activity saw approximately 364,000 square feet finalized in the first three quarters, with 92,000 square feet in the third quarter alone. The company's directly owned portfolio was approximately 70.4% leased at the end of Q3, down from 72.3% in Q2 and 74% at the end of 2023, reflecting both property dispositions and lease expirations. Looking forward, FSP is tracking 700,000 square feet of prospective new tenant interest, with a relatively low total of 77,000 square feet in lease expirations remaining for 2024.Significant Debt Reduction
Total liabilities reduced by about $140 million from approximately $456 million as of December 31, 2023, to approximately $316 million by September 30, 2024, due to property dispositions.
Property Dispositions
FSP sold properties worth $100 million year-to-date, including Pershing Park Plaza for $34 million and Innsbrook Corporate Center for $31 million.
Leasing Activity Improvements
FSP finalized approximately 364,000 square feet of total leasing during the first 3 quarters of 2024, with a healthier pipeline of leasing prospects growing over the past months.
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FSP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FSP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $1.85 | $1.77 | -4.32% |
| Jul 30, 2024 | $1.80 | $1.73 | -3.89% |
| Apr 30, 2024 | $1.84 | $1.89 | +2.72% |
| Feb 26, 2024 | $2.22 | $2.36 | +6.31% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Franklin Street Properties (FSP) report earnings?
Franklin Street Properties (FSP) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is Franklin Street Properties (FSP) earnings time?
Franklin Street Properties (FSP) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FSP EPS forecast?
FSP EPS forecast for the fiscal quarter 2024 (Q4) is -$0.03.
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