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WeWork Announces Date of Fourth Quarter and Full Year 2022 Results Conference Call
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
WeWork Inc. (NYSE: WE) will announce its fourth quarter and full year financial results on February 16, 2023, at 8:00 AM ET. Preliminary results show revenue and adjusted EBITDA exceeded Q3 2022 guidance. To streamline operations, WeWork plans to reduce its workforce by about 300 roles. Earnings materials will be accessible on the company’s Investor Relations website. The company will continue to provide material information through various communications, ensuring compliance with regulatory disclosure obligations.
Positive
Revenue and adjusted EBITDA exceeded Q3 2022 guidance.
Plan to optimize portfolio and streamline operations.
Negative
Reduction of approximately 300 roles in the global workforce.
NEW YORK--(BUSINESS WIRE)--
WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced that on Thursday, February 16, 2023, it will issue financial results for the fourth quarter and full year ending December 31, 2022. The Company will conduct a conference call at 8:00 AM ET, following the release of its earnings materials.
Preliminary numbers show the Company made gains in revenue and adjusted EBITDA through Q4 2022 exceeding guidance provided in the Company’s Q3 2022 earnings call. In connection with its portfolio optimization and in continuing to streamline operations, the Company has announced plans for headcount reductions which would account for approximately 300 roles in its global workforce.
Earnings call details, the company’s earnings release, and related materials will be available on WeWork’s Investor Relations website at investors.wework.com. A replay of the conference call will be available at the same website after the call.
WeWork announces material information to the public through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts and the investor relations section of its website (investors.wework.com) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.
About WeWork:
WeWork Inc. (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become the leading global flexible space provider committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.
Source: We Work
Category: Investor Relations
Forward-Looking Statements
Certain statements made in this press release may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although WeWork believes the expectations reflected in any forward-looking statement are based on reasonable assumptions, it can give no assurance that its expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to, WeWork’s ability to refinance, extend, restructure or repay outstanding debt; its outstanding indebtedness; its ability to raise capital through equity issuances, asset sales or the incurrence of debt; retail and credit market conditions; impairments; its current and projected liquidity needs; changes in general economic conditions, including as a result of the COVID-19 pandemic and the conflict in Ukraine; our expectations regarding our exits of underperforming locations, including the timing of any such exits and our ability to retain our members; delays in customers and prospective customers returning to the office and taking occupancy as a result of the COVID-19 pandemic and the emergence of variants leading to a parallel delay in receiving the corresponding revenue; the impact of foreign exchange rates on WeWork’s financial performance; and WeWork’s inability to implement its business plan or meet or exceed its financial projections. Forward-looking statements speak only as of the date they are made. WeWork discusses these and other risks and uncertainties in its annual and quarterly periodic reports and other documents filed with the U.S. Securities and Exchange Commission. WeWork undertakes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by law.
