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8/2/2023
Good morning and welcome to the Franklin Street Properties Corp second quarter 2023 results conference call. All participants are in a listen only mode. After the speaker's presentation, we will conduct a question and answer session. To ask a question, you'll need to press star followed by the number one on your telephone keypad. As a reminder, this conference call is being recorded. I would now like to turn the call over to Scott Carter, General Counsel. Thank you. Please go ahead, sir.
Good morning and welcome to the Franklin Street Properties second quarter 2023 earnings call. Joining me this morning are George Carter, our Chief Executive Officer, John DeMeritt, our Chief Financial Officer, Jeff Carter, our President and Chief Investment Officer, and John Donahue, President of FSP Property Management. Also joining me this morning are Toby Daly and Will Friend, both Executive Vice Presidents of FSP Property Management. Please note that various remarks that we may make about future expectations, plans, and prospects for the company may constitute forward-looking statements for purposes of the safe harbor provision under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the risk factors section of our annual report on Form 10-K for the year ended December 31, 2022, as amended by our quarterly reports on Form 10-Q, all of which are on file with the SEC. In addition, these forward-looking statements represent the company's expectations only as of today, August 2, 2023. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so. Any forward-looking statement should not be relied upon as representing the company's estimates or views as of any date subsequent to today. At times during this call, we may refer to funds from operations or FFO, reconciliations of FFO, and other non-GAAP financial measures to GAAP net income are contained in yesterday's press release, which is available in the investor relations section of our website at www.fspreit.com. Now I'll turn the call over to John DiMera. John?
Thank you, Scott, and good morning, everyone. I'm going to give a brief overview of our second quarter results. Afterward, I'll pass the call to George for his thoughts. As a reminder, our comments today will refer to our earnings release supplemental package in 10-Q, which can be found on our website. We reported funds from operations or FFO of about 7.1 million or 7 cents per share for the second quarter, a gap net loss of about 8.4 million or 8 cents for the second quarter of 23. On a year-to-date basis, we reported FFO of about 15.5 million or 15 cents per share for the six months ended June 30, 23, and a gap net loss of about $6 million or $0.06 per share for the same period. As of June 30, 23, we remain with $400 million of total debt outstanding, which is the same level we reported at the end of March. With that, I'll turn the call over to George. George?
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