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Highwoods Properties (HIW) Reports Q2 Earnings: What Key Metrics Have to Say
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Highwoods Properties (HIW - Free Report) reported $207.29 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 1.7%. EPS of $0.94 for the same period compares to $0.47 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $209.83 million, representing a surprise of -1.21%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.94.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Highwoods Properties performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Occupancy: 88.9% versus the two-analyst average estimate of 89.44%.
Revenue- Contractual rents, net: $174.70 million compared to the $175.81 million average estimate based on two analysts. The reported number represents a change of +0.8% year over year.
Revenue- Straight-line rental income, net: $6.26 million versus $7.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +28.4% change.
Revenue- Other miscellaneous operating income: $9.70 million compared to the $9.87 million average estimate based on two analysts. The reported number represents a change of +16.3% year over year.
Revenue- Lease termination fees, net: $0.24 million versus the two-analyst average estimate of $0.38 million. The reported number represents a year-over-year change of -56.8%.
Revenue- Cost recoveries billed under lease arrangements, net: $16.39 million versus the two-analyst average estimate of $17.65 million. The reported number represents a year-over-year change of -1.8%.
Net Earnings Per Share (Diluted): $0.40 versus the four-analyst average estimate of $0.26.
Shares of Highwoods Properties have returned +9.4% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Highwoods Properties (HIW) Reports Q2 Earnings: What Key Metrics Have to Say
Highwoods Properties (HIW - Free Report) reported $207.29 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 1.7%. EPS of $0.94 for the same period compares to $0.47 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $209.83 million, representing a surprise of -1.21%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.94.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Highwoods Properties performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Occupancy: 88.9% versus the two-analyst average estimate of 89.44%.
- Revenue- Contractual rents, net: $174.70 million compared to the $175.81 million average estimate based on two analysts. The reported number represents a change of +0.8% year over year.
- Revenue- Straight-line rental income, net: $6.26 million versus $7.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +28.4% change.
- Revenue- Other miscellaneous operating income: $9.70 million compared to the $9.87 million average estimate based on two analysts. The reported number represents a change of +16.3% year over year.
- Revenue- Lease termination fees, net: $0.24 million versus the two-analyst average estimate of $0.38 million. The reported number represents a year-over-year change of -56.8%.
- Revenue- Cost recoveries billed under lease arrangements, net: $16.39 million versus the two-analyst average estimate of $17.65 million. The reported number represents a year-over-year change of -1.8%.
- Net Earnings Per Share (Diluted): $0.40 versus the four-analyst average estimate of $0.26.
View all Key Company Metrics for Highwoods Properties here>>>Shares of Highwoods Properties have returned +9.4% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.