COPT Defense Properties (CDP) Q1 2025 Earnings Call Transcript

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Q1: 2025-04-28 Earnings Summary

Insights
EPS of $0.31 misses by $0.02
 | Revenue of $187.86M (-2.80% Y/Y) beats by $2.08M

COPT Defense Properties (NYSE:CDP) Q1 2025 Results Conference Call April 28, 2025 12:00 PM ET

Company Participants

Venkat Kommineni - Vice President, Investor Relations
Steve Budorick - President and Chief Executive Officer
Britt Snider - Executive Vice President and Chief Operating Officer
Anthony Mifsud - Executive Vice President and Chief Financial Officer

Conference Call Participants

Blaine Heck - Wells Fargo
Seth Bergey - Citigroup Global Markets
Anthony Paolone - JPMorgan
Manus Ebbecke - Evercore ISI
Richard Anderson - Wedbush Securities
Peter Abramowitz - Jefferies
Dylan Burzinski - Green Street
Tom Catherwood - BTIG
Steve Sakwa - Evercore ISI

Operator

Good day, ladies and gentlemen. Welcome to the COPT Defense Properties First Quarter 2025 Results Conference Call. As a reminder, today's call is being recorded.

At this time, I will turn the call over to Venkat Kommineni, COPT Defense's Vice President of Investor Relations. Mr. Kommineni, please go ahead.

Venkat Kommineni

Thank you, Howard. Good afternoon, and welcome to COPT Defense's conference call to discuss first quarter results.

With me today are Steve Budorick, President and CEO Britt Snider, Executive Vice President and COO; and Anthony Mifsud, Executive Vice President and CFO. Reconciliations of GAAP and non-GAAP financial measures that management discusses are available on our website, in the results, press release and presentation and in our supplemental information package.

As a reminder, forward-looking statements made during today's call are subject to risks and uncertainties, which are discussed in our SEC filings. Actual events and results can differ materially from these forward-looking statements, and the company does not undertake a duty to update them. Steve?

Steve Budorick

Good afternoon, and thank you for joining us. We're off to a strong start in 2025 and are meeting or in some cases on track to exceed all of our 2025 targets. Given our strong results in

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