Highwoods Properties Earnings: Everything You Must Know Now

Highwoods Properties Inc. (NYSE:HIW) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are flat.

Highwoods Properties Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $0.68 in the quarter versus EPS of $0.70 in the year-earlier quarter.

Revenue: Rose 7.37% to $133.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Highwoods Properties Inc. reported adjusted EPS income of $0.68 per share. By that measure, the company met the mean analyst estimate of $0.68. It beat the average revenue estimate of $130.96 million.

Quoting Management: Ed Fritsch, President and CEO, stated, “2012 was a very productive year for Highwoods resulting in a 5.8% year-over-year increase in FFO per share, a strong performance. For the year, leasing volume was robust, average occupancy exceeded 90% and same property cash net operating income increased 3.6%. In addition, we further enhanced the quality of our portfolio through accretive acquisitions and non-core dispositions. Our concentration of core assets in the best business districts, a key aspect of our strategic plan, continues to grow and our results clearly reflect the success of this ongoing focus.”

Key Stats (on next page)…

Revenue increased 3.3% from $129.62 million in the previous quarter. EPS increased 3.03% from $0.66 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.69 and has not changed. For the current year, the average estimate has moved down from a profit of $2.73 to a profit of $2.72 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)