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. 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 is a key indicator of profitability and will show how well the company is managing its costs and revenues.

N/A

Occupancy Rate

The occupancy rate reflects the demand for Highwoods' properties and is crucial for revenue generation.

N/A

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. 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 significant role in the office real estate sector, which is currently navigating challenges related to remote work trends and changing tenant demands.

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 led to a 3.49% increase in stock price the following day. The company has struggled with profitability, as indicated by the large EPS miss.

Management Promises & Guidance

Expectations

Wall Street Expectations

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

Bull Case

If Highwoods can demonstrate improved occupancy rates and better-than-expected revenue growth, it could signal a turnaround, leading to increased investor confidence and a potential stock price rally.

Bear Case

Conversely, if the company continues to show weak occupancy and revenue figures, it may reinforce concerns about the sustainability of its business model in a changing work environment, leading to further stock declines.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate across Highwoods' properties?

Occupancy rates are critical for revenue generation and will indicate how well the company is adapting to current market conditions.

How does management plan to address the recent decline in EPS?

Understanding management's strategy to improve profitability will be crucial for investor confidence moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Highwoods to recover occupancy rates as companies reconsider their office space needs post-pandemic.

Supporting Evidence

The recent trend of companies returning to office work could lead to increased demand for office space.

Highwoods' strategic locations in growing markets may provide a competitive advantage.

The options market's implied move suggests that traders are anticipating significant changes, which could reflect a broader market sentiment not captured in current estimates.

Key Risk

If occupancy rates show a significant rebound, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers around the company's ability to maintain occupancy and improve profitability in a challenging office market.

Bull Confirmed If

Occupancy rates improving to above 90% would confirm the bull case.

Bear Confirmed If

A continued decline in occupancy rates 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 of over 10% in either direction, indicating heightened uncertainty among investors.

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 for the company.

In-Line / Cautious

If results come in line with expectations but management is cautious, the stock may see a muted reaction as investors weigh future risks.

Miss

If the company misses again, history suggests a potential decline of about 1.53%, further raising concerns about its business model.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on leasing activity and tenant demand in key markets.
2Management's commentary on cost management strategies.
3Insights into future development projects and their expected impact on revenue.
4Details on any changes in the competitive landscape affecting Highwoods.
5Updates on macroeconomic factors that could influence office space demand.

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Company Snapshot

Highwoods Properties, Inc. 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 is a key indicator of profitability and will show how well the company is managing its costs and revenues.

N/A

Occupancy Rate

The occupancy rate reflects the demand for Highwoods' properties and is crucial for revenue generation.

N/A

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

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

Bull Case

Bear Case

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate across Highwoods' properties?

Occupancy rates are critical for revenue generation and will indicate how well the company is adapting to current market conditions.

How does management plan to address the recent decline in EPS?

Understanding management's strategy to improve profitability will be crucial for investor confidence moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Highwoods to recover occupancy rates as companies reconsider their office space needs post-pandemic.

Supporting Evidence

The recent trend of companies returning to office work could lead to increased demand for office space.

Highwoods' strategic locations in growing markets may provide a competitive advantage.

The options market's implied move suggests that traders are anticipating significant changes, which could reflect a broader market sentiment not captured in current estimates.

Key Risk

If occupancy rates show a significant rebound, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers around the company's ability to maintain occupancy and improve profitability in a challenging office market.

Bull Confirmed If

Occupancy rates improving to above 90% would confirm the bull case.

Bear Confirmed If

A continued decline in occupancy rates 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 of over 10% in either direction, indicating heightened uncertainty among investors.

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 for the company.

In-Line / Cautious

If results come in line with expectations but management is cautious, the stock may see a muted reaction as investors weigh future risks.

Miss

If the company misses again, history suggests a potential decline of about 1.53%, further raising concerns about its business model.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on leasing activity and tenant demand in key markets.
2Management's commentary on cost management strategies.
3Insights into future development projects and their expected impact on revenue.
4Details on any changes in the competitive landscape affecting Highwoods.
5Updates on macroeconomic factors that could influence office space demand.