See more : Voestalpine AG (VLPNY) Income Statement Analysis – Financial Results
Complete financial analysis of Corporate Office Properties Trust (OFC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Corporate Office Properties Trust, a leading company in the REIT – Office industry within the Real Estate sector.
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Corporate Office Properties Trust (OFC)
About Corporate Office Properties Trust
COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology ("IT") related activities servicing what it believes are growing, durable, priority missions ("Defense/IT Locations"). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics ("Regional Office Properties"). As of December 31, 2020, the Company derived 87% of its core portfolio annualized rental revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of the same date and including 17 properties owned through unconsolidated joint ventures, COPT's core portfolio of 179 office and data center shell properties encompassed 20.8 million square feet and was 95.0% leased; the Company also owned one wholesale data center with a critical load of 19.25 megawatts that was 86.7% leased.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 684.98M | 739.03M | 664.45M | 609.37M | 641.23M | 578.11M | 612.82M | 574.33M | 625.47M | 586.47M | 523.36M | 528.01M | 556.84M | 564.48M | 767.52M | 588.02M | 410.17M | 361.40M | 329.15M | 243.48M | 174.42M | 151.88M | 129.41M | 108.99M | 81.11M | 40.21M | 6.62M | 2.50M | 2.50M | 2.20M | 1.20M | 600.00K | 100.00K |
| Cost of Revenue | 8.93M | 518.62M | 454.97M | 409.65M | 445.17M | 396.48M | 424.81M | 375.73M | 437.22M | 416.08M | 339.29M | 351.22M | 268.47M | 281.72M | 157.31M | 325.28M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 676.05M | 220.41M | 209.47M | 199.72M | 196.05M | 181.64M | 188.01M | 198.60M | 188.25M | 170.40M | 184.07M | 176.79M | 288.37M | 282.75M | 610.21M | 262.74M | 410.17M | 361.40M | 329.15M | 243.48M | 174.42M | 151.88M | 129.41M | 108.99M | 81.11M | 40.21M | 6.62M | 2.50M | 2.50M | 2.20M | 1.20M | 600.00K | 100.00K |
| Gross Profit Ratio | 98.70% | 29.82% | 31.53% | 32.77% | 30.57% | 31.42% | 30.68% | 34.58% | 30.10% | 29.05% | 35.17% | 33.48% | 51.79% | 50.09% | 79.50% | 44.68% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 31.11M | 38.99M | 40.77M | 37.47M | 39.64M | 34.74M | 37.05M | 44.80M | 44.87M | 37.37M | 36.31M | 37.61M | 25.84M | 24.01M | 359.76M | 0.00 | 20.52M | 16.94M | 13.53M | 10.94M | 7.89M | 6.70M | 5.29M | 4.87M | 3.20M | 1.89M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.20M | 4.20M | 3.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 31.11M | 38.99M | 40.77M | 37.47M | 39.64M | 34.74M | 37.05M | 44.80M | 44.87M | 37.37M | 36.31M | 37.61M | 29.04M | 28.21M | 520.77M | 25.33M | 20.52M | 16.94M | 13.53M | 10.94M | 7.89M | 6.70M | 5.29M | 4.87M | 3.20M | 1.89M | 533.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 200.00K |
| Other Expenses | 207.35M | 271.00K | -1.13M | -933.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 238.45M | 39.26M | 39.65M | 36.54M | 39.64M | 34.74M | 37.05M | 44.80M | 44.87M | 37.37M | 36.31M | 37.61M | 156.48M | 151.44M | 629.38M | 128.05M | 289.93M | 247.50M | 229.14M | 152.89M | 52.76M | 70.44M | 49.93M | 54.46M | 38.58M | 18.87M | 3.95M | -2.20M | -2.20M | -2.00M | -1.00M | -500.00K | 200.00K |
| Cost & Expenses | 247.39M | 557.89M | 494.62M | 446.19M | 484.82M | 431.22M | 461.86M | 420.53M | 482.08M | 453.45M | 375.59M | 388.83M | 424.95M | 433.16M | 629.38M | 453.33M | 289.93M | 247.50M | 229.14M | 152.89M | 52.76M | 70.44M | 49.93M | 54.46M | 38.58M | 18.87M | 3.95M | -2.20M | -2.20M | -2.00M | -1.00M | -500.00K | 200.00K |
| Interest Income | 0.00 | 9.34M | 7.88M | 8.57M | 7.89M | 4.36M | 6.32M | 5.44M | 4.52M | 4.92M | 3.83M | 7.17M | 5.60M | 9.57M | 5.16M | 2.07M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | -71.14M | 61.17M | 65.40M | 67.94M | 71.05M | 75.39M | 76.98M | 83.16M | 89.07M | 92.39M | 76.56M | 88.38M | 101.28M | 101.87M | 82.21M | 83.65M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 149.00M | 143.59M | 150.64M | 140.03M | 137.07M | 137.12M | 134.23M | 132.72M | 140.03M | 136.09M | 119.77M | 124.42M | 127.44M | 123.24M | 108.61M | 102.72M | 107.63M | 80.07M | 63.56M | 51.90M | 37.14M | 29.00M | 20.98M | 16.98M | 12.08M | 6.29M | 1.27M | 600.00K | 500.00K | 500.00K | 300.00K | 100.00K | 0.00 |
| EBITDA | 4.31M | 228.01M | 149.42M | 168.46M | 264.17M | 153.95M | 160.16M | 171.76M | 78.28M | 138.18M | 100.06M | 26.43M | 264.60M | 265.49M | 251.91M | 239.48M | 58.51M | 55.67M | 44.77M | 147.35M | 68.22M | 130.81M | 127.19M | 72.78M | 55.58M | 28.06M | 3.94M | 5.30M | 5.20M | 4.70M | 2.50M | 1.20M | -100.00K |
| EBITDA Ratio | 0.55% | 26.01% | 26.91% | 28.48% | 25.88% | 26.63% | 26.13% | 27.96% | 23.66% | 23.56% | 51.21% | 50.00% | 47.52% | 47.03% | 32.82% | 40.73% | 56.78% | 54.46% | 50.37% | 60.52% | 121.00% | 86.12% | 98.28% | 66.78% | 68.53% | 69.76% | 59.53% | 212.00% | 208.00% | 213.64% | 208.33% | 200.00% | -100.00% |
| Operating Income | -74.35M | 48.64M | 28.16M | 33.54M | 28.87M | 144.53M | 135.84M | 52.41M | 120.09M | 131.61M | 141.91M | 95.97M | 4.12M | 131.31M | 138.14M | 134.69M | 120.25M | 113.91M | 100.00M | 90.59M | 121.66M | 81.44M | 79.48M | 54.53M | 42.53M | 21.35M | 2.67M | 4.70M | 4.70M | 4.20M | 2.20M | 1.10M | -100.00K |
| Operating Income Ratio | -10.85% | 6.58% | 4.24% | 5.50% | 4.50% | 25.00% | 22.17% | 9.13% | 19.20% | 22.44% | 27.12% | 18.17% | 0.74% | 23.26% | 18.00% | 22.91% | 29.32% | 31.52% | 30.38% | 37.20% | 69.75% | 53.62% | 61.41% | 50.03% | 52.44% | 53.08% | 40.39% | 188.00% | 188.00% | 190.91% | 183.33% | 183.33% | -100.00% |
| Total Other Income/Expenses | 849.00K | 101.06M | -948.00K | -59.31M | 42.07M | -68.95M | -68.30M | -77.50M | -85.50M | -96.79M | -103.10M | -88.94M | -127.50M | -90.92M | -77.04M | -76.22M | -84.68M | -65.57M | -61.64M | -46.69M | -93.33M | -59.44M | -59.51M | 107.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax | -73.50M | 149.70M | 78.37M | 103.23M | 199.79M | 75.94M | 67.54M | -25.09M | 120.87M | 34.82M | 38.81M | 7.02M | -123.38M | 40.39M | 61.09M | 63.49M | 35.57M | 39.68M | 41.11M | 43.89M | 28.33M | 22.00M | 19.97M | 54.64M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | -10.73% | 20.26% | 11.79% | 16.94% | 31.16% | 13.14% | 11.02% | -4.37% | 19.33% | 5.94% | 7.42% | 1.33% | -22.16% | 7.16% | 7.96% | 10.80% | 8.67% | 10.98% | 12.49% | 18.03% | 16.24% | 14.49% | 15.43% | 50.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | -588.00K | 447.00K | 145.00K | 353.00K | -217.00K | -363.00K | 1.10M | 244.00K | 199.00K | 310.00K | 1.98M | 381.00K | -10.68M | 108.00K | 196.00K | 201.00K | 569.00K | 887.00K | 668.00K | 795.00K | -124.00K | -242.00K | -269.00K | 40.78M | 28.43M | 17.07M | 3.64M | 4.40M | 4.40M | 3.90M | 2.00M | 1.00M | 200.00K |
| Net Income | -73.47M | 173.03M | 76.54M | 97.37M | 191.69M | 72.30M | 70.09M | 11.44M | 178.30M | 40.26M | 93.71M | 20.98M | -117.68M | 42.76M | 56.33M | 58.67M | 34.78M | 49.23M | 39.03M | 37.03M | 30.88M | 23.30M | 19.92M | 15.13M | 15.08M | 4.70M | -967.00K | 300.00K | 300.00K | 300.00K | 200.00K | 100.00K | -200.00K |
| Net Income Ratio | -10.73% | 23.41% | 11.52% | 15.98% | 29.89% | 12.51% | 11.44% | 1.99% | 28.51% | 6.86% | 17.90% | 3.97% | -21.13% | 7.58% | 7.34% | 9.98% | 8.48% | 13.62% | 11.86% | 15.21% | 17.70% | 15.34% | 15.39% | 13.89% | 18.60% | 11.68% | -14.61% | 12.00% | 12.00% | 13.64% | 16.67% | 16.67% | -200.00% |
| EPS | -0.65 | 1.54 | 0.68 | 0.87 | 1.72 | 0.69 | 0.71 | 0.12 | 1.90 | 0.46 | 1.10 | 0.29 | -1.70 | 0.72 | 1.01 | 1.22 | 0.75 | 1.18 | 1.04 | 1.12 | 1.17 | 1.04 | 0.99 | 0.80 | 0.89 | 2.07 | -0.58 | 0.21 | 0.19 | 0.21 | 0.17 | 0.19 | -0.28 |
| EPS Diluted | -0.65 | 1.53 | 0.68 | 0.87 | 1.71 | 0.69 | 0.71 | 0.12 | 1.83 | 0.46 | 1.10 | 0.29 | -1.70 | 0.71 | 1.00 | 1.20 | 0.73 | 1.13 | 1.01 | 1.06 | 1.09 | 0.99 | 0.96 | 0.79 | 0.81 | 2.07 | -0.58 | 0.21 | 0.19 | 0.21 | 0.17 | 0.19 | -0.28 |
| Weighted Avg Shares Out | 112.18M | 112.07M | 111.96M | 111.79M | 111.20M | 103.95M | 98.97M | 94.50M | 93.91M | 88.09M | 85.17M | 73.45M | 69.38M | 59.61M | 55.93M | 48.13M | 46.53M | 41.57M | 37.56M | 33.14M | 26.38M | 22.32M | 20.10M | 18.89M | 16.98M | 2.27M | 1.67M | 1.43M | 1.58M | 1.43M | 1.18M | 526.32K | 710.00K |
| Weighted Avg Shares Out (Dil) | 112.18M | 112.62M | 112.42M | 112.08M | 111.62M | 104.13M | 99.16M | 94.50M | 97.67M | 88.26M | 85.22M | 73.45M | 69.38M | 59.94M | 56.41M | 48.87M | 47.63M | 43.37M | 38.76M | 34.98M | 28.33M | 23.51M | 20.74M | 19.21M | 18.53M | 2.27M | 1.67M | 1.43M | 1.58M | 1.43M | 1.18M | 526.32K | 710.00K |
Corporate Office Properties Trust (OFC) Q4 2022 Earnings Call Transcript
Corporate Office Properties Trust (NYSE:OFC ) Q4 2022 Earnings Conference Call February 10, 2023 12:00 PM ET Company Participants Venkat Kommineni - Vice President, Investor Relations Steve Budorick - President and Chief Executive Officer Todd Hartman - Executive Vice President...
COPT Establishes 2023 Guidance
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) is establishing the following guidance for the year ending December 31, 2023: 2023 Guidance. Diluted earnings per share (“EPS”) in the range of $1.45−$1.53; and Diluted FFO per...
COPT Reports Full Year 2022 Results
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) announced results for the fourth quarter and full year ended December 31, 2022. Management Comments Stephen E. Budorick, COPT's President & Chief Executive Officer, commented, “Our Defense/IT investment...
COPT Executes Over 460,000 SF of Development Leasing in 2023
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (“COPT” or the Company) (NYSE: OFC) executed two long-term leases in January with a Fortune 500 company for two build-to-suit developments in Northern Virginia. The first project is 225,000 square feet and is scheduled...
COPT Announces Tax Treatment of 2022 Distributions
COLUMBIA, Md.--( BUSINESS WIRE )--Corporate Office Properties Trust (“COPT” or the Company) (NYSE: OFC) announced the 2022 tax treatment of its common share distributions as described below. Shareholders are encouraged to consult with their tax advisors as to their specific...
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Always follow the money and pay close attention to underlying cash flows that will in turn drive shareholder returns. In this article, I will explore the "mission critical" aspect to intelligent REIT investing.
The 'D' Word
U.S. equity markets posted broad-based gains after the closely-watched CPI inflation report showed signs of easing inflationary pressures, strengthening the case for the Fed to slow its pace of rate hikes. Pushing its year-to-date gains to above 4% following a...
COPT Forms Two Data Center Shell Joint Ventures with Blackstone Real Estate
COLUMBIA, Md.--( BUSINESS WIRE )--Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) announces the formation of two new joint ventures with entities affiliated with Blackstone Real Estate (the “Joint Venture”).
COPT Provides Conference Call Details to Discuss 4Q and YE 2022 Results and Management's 2023 Outlook
COLUMBIA, Md.--( BUSINESS WIRE )--Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) announces the release date and conference call details in which management will discuss fourth quarter and year end 2022 results and guidance for 2023.
COPT Completes 801,000 Square Feet of Vacancy Leasing in 2022
COLUMBIA, Md.--( BUSINESS WIRE )--Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) completed 801,000 square feet of vacancy leasing during 2022 with a weighted-average lease term of over 7 years, the Company's highest annual vacancy leasing level in...
Source: https://incomestatements.info
Category: Stock Reports