Highwoods Q3 Results Beat Street, Revises FY23 FFO Earnings Outlook

(RTTNews) - Highwoods Properties, Inc. (HIW) on Tuesday reported its third-quarter earnings and revenue that beat Street estimates.

The company reported net income of $22.1 million or $0.21 per share for the quarter, a decrease from last year's profit of $38.3 million or $0.36 per share.

Funds from operations were $99.8 million or $0.93 per share, compared to $111.6 million or $1.04 per share the prior year.

Analysts on average had expected the company to earn $0.21 per share, according to figures compiled by Thomson Reuters.

Revenue for the quarter was $207.1 million compared to the $207.0 million the previous year. It beat the consensus estimate of $206.88 million.

The company has revised its FFO earnings forecast for the entire year, increasing it from $3.69 to $3.81 per share to $3.73 to $3.77 per share.