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Compared to Estimates, Highwoods Properties (HIW) Q2 Earnings: A Look at Key Metrics
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Highwoods Properties (HIW - Free Report) reported $204.74 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.2%. EPS of $0.98 for the same period compares to $0.40 a year ago.
The reported revenue represents a surprise of -1.96% over the Zacks Consensus Estimate of $208.83 million. With the consensus EPS estimate being $0.90, the EPS surprise was +8.89%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 88.5% versus 88.5% estimated by two analysts on average.
Rental and other revenues- Lease termination fees, net: $0.34 million versus $0.38 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +41.6% change.
Rental and other revenues- Contractual rents, net: $175.12 million versus $175.08 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.2% change.
Rental and other revenues- Other miscellaneous operating revenues: $10.57 million versus $10.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.9% change.
Rental and other revenues- Cost recoveries billed under lease arrangements, net: $15.58 million versus the two-analyst average estimate of $18.09 million. The reported number represents a year-over-year change of -4.9%.
Rental and other revenues- Straight-line rental income, net: $3.12 million versus the two-analyst average estimate of $3.22 million. The reported number represents a year-over-year change of -50.1%.
Net Earnings Per Share (Diluted): $0.59 versus the four-analyst average estimate of $0.19.
Shares of Highwoods Properties have returned +6.8% over the past month versus the Zacks S&P 500 composite's +2% 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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Compared to Estimates, Highwoods Properties (HIW) Q2 Earnings: A Look at Key Metrics
Highwoods Properties (HIW - Free Report) reported $204.74 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.2%. EPS of $0.98 for the same period compares to $0.40 a year ago.
The reported revenue represents a surprise of -1.96% over the Zacks Consensus Estimate of $208.83 million. With the consensus EPS estimate being $0.90, the EPS surprise was +8.89%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 88.5% versus 88.5% estimated by two analysts on average.
- Rental and other revenues- Lease termination fees, net: $0.34 million versus $0.38 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +41.6% change.
- Rental and other revenues- Contractual rents, net: $175.12 million versus $175.08 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.2% change.
- Rental and other revenues- Other miscellaneous operating revenues: $10.57 million versus $10.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.9% change.
- Rental and other revenues- Cost recoveries billed under lease arrangements, net: $15.58 million versus the two-analyst average estimate of $18.09 million. The reported number represents a year-over-year change of -4.9%.
- Rental and other revenues- Straight-line rental income, net: $3.12 million versus the two-analyst average estimate of $3.22 million. The reported number represents a year-over-year change of -50.1%.
- Net Earnings Per Share (Diluted): $0.59 versus the four-analyst average estimate of $0.19.
View all Key Company Metrics for Highwoods Properties here>>>Shares of Highwoods Properties have returned +6.8% over the past month versus the Zacks S&P 500 composite's +2% 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.