Douglas Emmett, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 04:11 pm EDT
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Douglas Emmett, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 223.97 million compared to USD 223.07 million a year ago. Revenue was USD 255.41 million compared to USD 253.66 million a year ago. Net loss was USD 13.36 million compared to net income of USD 22.96 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.13 a year ago. Diluted loss per share from continuing operations was USD 0.08.
For the nine months, sales was USD 666.37 million compared to USD 652.77 million a year ago. Revenue was USD 761.21 million compared to USD 739.52 million a year ago. Net loss was USD 2.25 million compared to net income of USD 72.84 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.41 a year ago.
Douglas Emmett, Inc. is a fully integrated, self-administered and self-managed REIT. The Company owns and operates office and multifamily properties located in premier coastal submarkets in Los Angeles and Honolulu. The Company's properties are located in the Beverly Hills, Brentwood, Burbank, Century City, Olympic Corridor, Santa Monica, Sherman Oaks/Encino, Warner Center/Woodland Hills and Westwood submarkets of Los Angeles County, California, and in Honolulu, Hawaii. The Company operates through two segments: the office segment and the multifamily segment. The Company's segments include the acquisition, development, ownership and management of office and multifamily real estate. The services of its office segment include primarily the rental of office space and other tenant services, including parking and storage space rental. The services of its multifamily segment include primarily the rental of apartments and other tenant services, including parking and storage space rental.
DOUGLAS EMMETT, INC. 
