Equity Profile

HIW

Highwoods Properties, Inc.

Real EstateOffice REITs$3.1B

Oct29Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Highwoods Properties, Inc. (HIW) is a real estate investment trust (REIT) that focuses on owning and managing office properties in the southeastern and midwestern United States....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of the company's profitability and will help investors gauge financial health this quarter.

$0.84

Occupancy Rate

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial in the current office market.

90%

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

HIW Q2-2026 Earnings Preview

Context

Company Snapshot

Highwoods Properties, Inc. (HIW) is a real estate investment trust (REIT) that focuses on owning and managing office properties in the southeastern and midwestern United States. With a market cap of $3 billion, the company plays a vital role in the commercial real estate sector, particularly as trends in remote work and office space utilization continue to evolve.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+14.56%

Avg Stock Reaction

+1.03%

Last Quarter Recap

In Q1 2026, Highwoods reported an EPS of $0.29, significantly missing expectations of $0.84, which raised concerns about its profitability. Despite this, the stock rose by 3.49% the following day, indicating some investor optimism.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, Wall Street is cautious ahead of the earnings report, especially after the significant EPS miss last quarter. Investors are looking for signs of recovery in occupancy and revenue growth.

Bull Case

If Highwoods can exceed EPS expectations and show improved occupancy rates, it could signal a strong recovery in demand for office spaces, boosting investor confidence.

Bear Case

Conversely, if the company reports another earnings miss and lower occupancy rates, it could raise further doubts about its ability to navigate the changing office landscape.

Key Metrics to Watch

EPS

$0.84

Earnings per share (EPS) is a key indicator of the company's profitability and will help investors gauge financial health this quarter.

Occupancy Rate

90%

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial in the current office market.

Revenue Growth

5% YoY

Revenue growth is essential for assessing the company's ability to expand and generate income from its properties.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rate be this quarter?

Given the recent trends in remote work, occupancy rates are critical for assessing the company's ability to attract and retain tenants.

How does management plan to address the recent EPS miss?

Investors will be looking for concrete strategies to improve profitability and reassure stakeholders after a significant earnings miss.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in office demand, particularly in the southeastern U.S., where Highwoods operates.

Supporting Evidence

The recent rise in remote work may stabilize as companies seek a hybrid model, increasing demand for office spaces.

Highwoods has historically shown resilience in occupancy rates during economic recoveries, suggesting a potential rebound.

Options pricing indicates a significant move, which may reflect investor sentiment that is more optimistic than current consensus.

Key Risk

If the occupancy rate exceeds 90%, it could challenge the bearish sentiment and shift the narrative around the company's recovery.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to recover from recent earnings misses and adapt to changing market conditions.

Bull Confirmed If

An EPS of $0.84 or higher, along with an occupancy rate above 90%, would confirm the bull case.

Bear Confirmed If

An EPS below $0.29 and an occupancy rate below 85% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.51%

Historical Avg

±1.7%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.5% while HIW has averaged ±1.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

28.6%

Calls (300)P/C Ratio: 10.67Puts (600)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Highwoods beats expectations, history suggests the stock could rise by an average of 0.53%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but cautious commentary is provided, the stock may react neutrally, reflecting uncertainty.

Miss

Should the company miss expectations again, history suggests a potential decline of around 1.53%, raising further concerns.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on occupancy rates and tenant demand trends.
2Details on any new leasing agreements or renewals.
3Management's strategy for addressing the recent EPS miss.
4Insights into market conditions affecting office space demand.
5Any commentary on future growth opportunities or challenges.

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Company Snapshot

Highwoods Properties, Inc. (HIW) is a real estate investment trust (REIT) that focuses on owning and managing office properties in the southeastern and midwestern United States....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of the company's profitability and will help investors gauge financial health this quarter.

$0.84

Occupancy Rate

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial in the current office market.

90%

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

HIW Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+14.56%

Avg Stock Reaction

+1.03%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, Wall Street is cautious ahead of the earnings report, especially after the significant EPS miss last quarter. Investors are looking for signs of recovery in occupancy and revenue growth.

Bull Case

If Highwoods can exceed EPS expectations and show improved occupancy rates, it could signal a strong recovery in demand for office spaces, boosting investor confidence.

Bear Case

Conversely, if the company reports another earnings miss and lower occupancy rates, it could raise further doubts about its ability to navigate the changing office landscape.

Key Metrics to Watch

EPS

$0.84

Earnings per share (EPS) is a key indicator of the company's profitability and will help investors gauge financial health this quarter.

Occupancy Rate

90%

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial in the current office market.

Revenue Growth

5% YoY

Revenue growth is essential for assessing the company's ability to expand and generate income from its properties.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rate be this quarter?

Given the recent trends in remote work, occupancy rates are critical for assessing the company's ability to attract and retain tenants.

How does management plan to address the recent EPS miss?

Investors will be looking for concrete strategies to improve profitability and reassure stakeholders after a significant earnings miss.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in office demand, particularly in the southeastern U.S., where Highwoods operates.

Supporting Evidence

The recent rise in remote work may stabilize as companies seek a hybrid model, increasing demand for office spaces.

Highwoods has historically shown resilience in occupancy rates during economic recoveries, suggesting a potential rebound.

Options pricing indicates a significant move, which may reflect investor sentiment that is more optimistic than current consensus.

Key Risk

If the occupancy rate exceeds 90%, it could challenge the bearish sentiment and shift the narrative around the company's recovery.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to recover from recent earnings misses and adapt to changing market conditions.

Bull Confirmed If

An EPS of $0.84 or higher, along with an occupancy rate above 90%, would confirm the bull case.

Bear Confirmed If

An EPS below $0.29 and an occupancy rate below 85% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.51%

Historical Avg

±1.7%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.5% while HIW has averaged ±1.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

28.6%

Calls (300)P/C Ratio: 10.67Puts (600)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Highwoods beats expectations, history suggests the stock could rise by an average of 0.53%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but cautious commentary is provided, the stock may react neutrally, reflecting uncertainty.

Miss

Should the company miss expectations again, history suggests a potential decline of around 1.53%, raising further concerns.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on occupancy rates and tenant demand trends.
2Details on any new leasing agreements or renewals.
3Management's strategy for addressing the recent EPS miss.
4Insights into market conditions affecting office space demand.
5Any commentary on future growth opportunities or challenges.