Equity Profile

HIW

Highwoods Properties, Inc.

Real EstateOffice REITs$3.5B

Oct29Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Highwoods Properties, Inc. (HIW) is a real estate investment trust (REIT) focused 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 profitability and will help investors gauge the company's financial health this quarter.

Expected to be around $0.84.

Occupancy Rate

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial for revenue generation.

Expected to be stable or improving.

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) focused on owning and managing office properties in the southeastern and midwestern United States. With a market cap of $3 billion, the company plays a significant role in the office real estate sector, which is influenced by trends in remote work and urban development.

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 below the expected $0.84, leading to a 3.49% increase in stock price the following day. This marked a challenging quarter for the company, raising concerns about its operational efficiency.

Management Promises & Guidance

Focus on improving occupancy rates.
Commitment to maintaining dividend payouts.
Plans to enhance property management strategies.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Highwoods' upcoming earnings report, given the recent struggles with EPS and occupancy rates. Investors are looking for signs of recovery and management's plans to address these challenges.

Bull Case

If Highwoods can exceed EPS expectations and show improvements in occupancy, it could signal a strong recovery, boosting investor confidence and stock prices.

Bear Case

Conversely, if the company fails to meet expectations again, it may raise further concerns about its ability to navigate the current real estate market, leading to a potential decline in stock value.

Key Metrics to Watch

EPS

Expected to be around $0.84.

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

Occupancy Rate

Expected to be stable or improving.

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial for revenue generation.

Revenue Growth

Expected to show modest growth.

Revenue growth is essential for assessing the company's ability to expand and increase shareholder value.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed $0.84 this quarter?

Given the significant miss last quarter, a strong EPS would indicate recovery and management effectiveness.

What is the current occupancy rate and outlook?

Occupancy rates are critical for revenue; any improvement could signal a positive trend for the company.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Highwoods to recover occupancy rates, especially with recent trends in urban office demand.

Supporting Evidence

The options market is pricing a larger move than historical averages, indicating heightened expectations.

Highwoods has historically shown resilience in occupancy despite market fluctuations.

Key Risk

If the EPS comes in above $0.84, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal for Highwoods as it seeks to recover from previous earnings misses and stabilize its operations.

Bull Confirmed If

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

Bear Confirmed If

An EPS below $0.29 and a declining occupancy rate 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 potential 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 a potential stock increase of around 0.53%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious commentary is made, the stock may react moderately, reflecting uncertainty.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 1.53%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on occupancy rates and tenant demand.
2Management's strategy for improving operational efficiency.
3Any commentary on market conditions affecting office space.
4Plans for future property acquisitions or sales.
5Insights into the company's dividend policy moving forward.

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Company Snapshot

Highwoods Properties, Inc. (HIW) is a real estate investment trust (REIT) focused 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 profitability and will help investors gauge the company's financial health this quarter.

Expected to be around $0.84.

Occupancy Rate

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial for revenue generation.

Expected to be stable or improving.

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

Focus on improving occupancy rates.
Commitment to maintaining dividend payouts.
Plans to enhance property management strategies.

Expectations

Wall Street Expectations

Bull Case

If Highwoods can exceed EPS expectations and show improvements in occupancy, it could signal a strong recovery, boosting investor confidence and stock prices.

Bear Case

Conversely, if the company fails to meet expectations again, it may raise further concerns about its ability to navigate the current real estate market, leading to a potential decline in stock value.

Key Metrics to Watch

EPS

Expected to be around $0.84.

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

Occupancy Rate

Expected to be stable or improving.

The occupancy rate reflects how well the company is managing its properties and attracting tenants, which is crucial for revenue generation.

Revenue Growth

Expected to show modest growth.

Revenue growth is essential for assessing the company's ability to expand and increase shareholder value.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed $0.84 this quarter?

Given the significant miss last quarter, a strong EPS would indicate recovery and management effectiveness.

What is the current occupancy rate and outlook?

Occupancy rates are critical for revenue; any improvement could signal a positive trend for the company.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Highwoods to recover occupancy rates, especially with recent trends in urban office demand.

Supporting Evidence

The options market is pricing a larger move than historical averages, indicating heightened expectations.

Highwoods has historically shown resilience in occupancy despite market fluctuations.

Key Risk

If the EPS comes in above $0.84, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal for Highwoods as it seeks to recover from previous earnings misses and stabilize its operations.

Bull Confirmed If

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

Bear Confirmed If

An EPS below $0.29 and a declining occupancy rate 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 potential 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 a potential stock increase of around 0.53%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious commentary is made, the stock may react moderately, reflecting uncertainty.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 1.53%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on occupancy rates and tenant demand.
2Management's strategy for improving operational efficiency.
3Any commentary on market conditions affecting office space.
4Plans for future property acquisitions or sales.
5Insights into the company's dividend policy moving forward.