Equity Profile

HIW

Highwoods Properties, Inc.

Real EstateOffice REITs$3.5B

Oct29Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of the company's profitability and will help assess how well it is managing its expenses and revenue.

$0.84

Occupancy Rate

The occupancy rate reflects the demand for office space and is crucial for understanding the company's revenue stability.

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 primarily in the Southeastern and Mid-Atlantic regions of the United States. The company plays a significant role in the office real estate market, 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 Properties reported an EPS of $0.29, significantly missing expectations of $0.84, which raised concerns about its profitability. The stock reacted positively the following day, gaining 3.49%, possibly due to market optimism or short-covering.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the recent stock performance despite the earnings miss last quarter. However, uncertainty remains regarding occupancy rates and rental income growth amid changing work patterns.

Bull Case

If Highwoods can demonstrate strong occupancy rates and rental income growth, it could signal resilience in its business model, leading to a positive stock reaction.

Bear Case

Conversely, if the company reports lower-than-expected occupancy or rental growth, it may raise concerns about its ability to adapt to market changes, resulting in a negative stock response.

Key Metrics to Watch

EPS

$0.84

Earnings per share (EPS) is a key indicator of the company's profitability and will help assess how well it is managing its expenses and revenue.

Occupancy Rate

90%

The occupancy rate reflects the demand for office space and is crucial for understanding the company's revenue stability.

Rental Income Growth

5% YoY

Growth in rental income indicates the company's ability to increase revenue from its properties, which is vital for its financial health.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate and how does it compare to previous quarters?

Occupancy rates are crucial for understanding the demand for Highwoods' properties and will directly impact revenue.

What is the growth rate of rental income this quarter?

Rental income growth is a key indicator of the company's financial health and ability to generate revenue in a changing market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of remote work on Highwoods' ability to maintain occupancy and rental rates, leading to overly cautious expectations.

Supporting Evidence

The recent stock performance has shown resilience despite a significant earnings miss, suggesting underlying strength.

Options pricing indicates a higher expected move than historical averages, hinting at potential volatility that the market may not fully anticipate.

Key Risk

If occupancy rates exceed 90% and rental income growth is strong, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to maintain occupancy and grow rental income in a shifting office market.

Bull Confirmed If

Occupancy rate above 90% and rental income growth of 5% or better would confirm the bull case.

Bear Confirmed If

Occupancy rate below 85% or rental income growth below 3% 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 report.

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 around 0.53%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may react modestly, reflecting uncertainty in the market.

Miss

If the company misses expectations, history suggests a potential decline of about 1.53%, indicating market disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the current occupancy rate and any changes in leasing activity.
2Details about rental income growth and any new leases signed.
3Management's outlook on market conditions and how they plan to adapt.
4Any commentary on the impact of remote work trends on their properties.
5Insights into capital expenditures and property management strategies.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of the company's profitability and will help assess how well it is managing its expenses and revenue.

$0.84

Occupancy Rate

The occupancy rate reflects the demand for office space and is crucial for understanding the company's revenue stability.

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

Bull Case

If Highwoods can demonstrate strong occupancy rates and rental income growth, it could signal resilience in its business model, leading to a positive stock reaction.

Bear Case

Conversely, if the company reports lower-than-expected occupancy or rental growth, it may raise concerns about its ability to adapt to market changes, resulting in a negative stock response.

Key Metrics to Watch

EPS

$0.84

Earnings per share (EPS) is a key indicator of the company's profitability and will help assess how well it is managing its expenses and revenue.

Occupancy Rate

90%

The occupancy rate reflects the demand for office space and is crucial for understanding the company's revenue stability.

Rental Income Growth

5% YoY

Growth in rental income indicates the company's ability to increase revenue from its properties, which is vital for its financial health.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate and how does it compare to previous quarters?

Occupancy rates are crucial for understanding the demand for Highwoods' properties and will directly impact revenue.

What is the growth rate of rental income this quarter?

Rental income growth is a key indicator of the company's financial health and ability to generate revenue in a changing market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of remote work on Highwoods' ability to maintain occupancy and rental rates, leading to overly cautious expectations.

Supporting Evidence

The recent stock performance has shown resilience despite a significant earnings miss, suggesting underlying strength.

Options pricing indicates a higher expected move than historical averages, hinting at potential volatility that the market may not fully anticipate.

Key Risk

If occupancy rates exceed 90% and rental income growth is strong, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to maintain occupancy and grow rental income in a shifting office market.

Bull Confirmed If

Occupancy rate above 90% and rental income growth of 5% or better would confirm the bull case.

Bear Confirmed If

Occupancy rate below 85% or rental income growth below 3% 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 report.

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 around 0.53%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may react modestly, reflecting uncertainty in the market.

Miss

If the company misses expectations, history suggests a potential decline of about 1.53%, indicating market disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the current occupancy rate and any changes in leasing activity.
2Details about rental income growth and any new leases signed.
3Management's outlook on market conditions and how they plan to adapt.
4Any commentary on the impact of remote work trends on their properties.
5Insights into capital expenditures and property management strategies.