Highwoods Properties (HIW) Tops Q2 EPS by 32c, provides outlook

Highwoods Properties (NYSE: HIW) reported Q2 EPS of $0.59, $0.32 better than the analyst estimate of $0.27. Revenue for the quarter came in at $204.74 million versus the consensus estimate of $205.06 million.

Outlook:
2024 Outlook
The Company updated its full year 2024 FFO outlook to $3.54 to $3.62 per share, which compares to the prior range of $3.46 to $3.61 per share provided on April 23, 2024. The Company’s updated 2024 outlook includes $4.8 million net impact of non-recurring items primarily relating to prior-year tax refunds recorded in the second quarter of 2024, approximately $2.5 million of which were anticipated in the prior
outlook.
This outlook reflects management’s view of current and future market conditions, including assumptions such as rental rates, occupancy levels, operating and general and administrative expenses, weighted average diluted shares outstanding and interest rates. The Company’s 2024 FFO outlook does not include any effects related to potential dispositions and acquisitions that occur after the date of this release. Factors that could cause actual results to differ materially from Highwoods current expectations are discussed below and are also detailed in the Company’s 2023 Annual Report on Form 10-K and
subsequent SEC reports.

For earnings history and earnings-related data on Highwoods Properties (HIW) click here.

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