Cousins Properties Incorporated (NYSE:CUZ) Q2 2025 Earnings Call August 1, 2025 10:00 AM ET Company Participants Gregg D. Adzema - Executive VP & CFO Jane Kennedy Hicks - Chief Investment Officer, Executive VP & MD of Atlanta Michael Colin Connolly - President, CEO & Director Pamela F. Roper - Executive VP, General Counsel & Corporate Secretary Richard G. Hickson - Executive Vice President of Operations Conference Call Participants Anthony Paolone - JPMorgan Chase & Co, Research Division Blaine Matthew Heck ...

Core Insights - Cousins Properties (CUZ) reported second-quarter 2025 funds from operations (FFO) per share of 70 cents, matching the Zacks Consensus Estimate and reflecting a 2.9% year-over-year increase [1][10] - The company experienced healthy new and expansion leasing activity, but faced a decline in weighted average occupancy and increased interest expenses, impacting growth [2][6] - Rental property revenues rose 12.4% year-over-year to $237.7 million, although it fell short of the Zacks Consensus Estimate of $242.5 million [3] Financial Performance - Total revenues increased by 12.7% year-over-year to $240.1 million [3] - Same-property rental property revenues on a cash basis decreased by 0.6% year-over-year to $192.1 million, while same-property operating expenses fell by 3.7% to $69.0 million, resulting in a 1.2% increase in same-property net operating income [5] - The weighted average occupancy for the same-property portfolio was 88.4%, a slight decline from the previous year [5] Leasing Activity - CUZ executed leases for 334,000 square feet of office space in Q2, with 268,000 square feet attributed to new and expansion leases, accounting for 80% of total leasing activity [4][10] Balance Sheet and Debt - At the end of Q2 2025, CUZ had cash and cash equivalents of $416.8 million, a significant increase from $7.3 million at the end of 2024 [7] - The net debt-to-annualized EBITDAre ratio was 5.11, up from 4.87 in the prior quarter, while fixed charges coverage (EBITDAre) decreased to 3.73X from 4.05X [7] 2025 Outlook - CUZ revised its 2025 FFO per share guidance to a range of $2.79 to $2.85, up from the previous range of $2.75 to $2.83, with the new midpoint indicating a 4.8% growth rate year-over-year [8][10]

Cousins Properties (CUZ) Q2 2025 Earnings Call August 01, 2025 10:00 AM ET Company ParticipantsPamela Roper - EVP - General Counsel & Corporate SecretaryColin Connolly - President, CEO & DirectorRichard Hickson - EVP - OperationsKennedy Hicks - EVP, Chief Investment Officer & MDGregg Adzema - EVP & CFOAnthony Paolone - Executive DirectorJana Galan - DirectorJohn Kim - MD - U.S. Real EstatePeter Abramowitz - SVP - Equity ResearchBrendan Lynch - DirectorConference Call ParticipantsSteve Sakwa - Senior Managin ...

Cousins Properties (CUZ) Q2 2025 Earnings Call August 01, 2025 10:00 AM ET Speaker0Morning, ladies and gentlemen, and welcome to the Cousins Properties Second Quarter Conference Call. Question and answer session. This call is being recorded on Friday, 08/01/2025. I would now like to turn the conference over to Pamela Roper, General Counsel. Please go ahead.Speaker1Thank you. Good morning, and welcome to Cousins Properties' second quarter earnings conference call. With me today are Colin Connolly, our Presid ...

Acquisition Highlights - Cousins acquired The Link, a lifestyle office property in Uptown Dallas, for $218 million, which equates to $747 per square foot[2, 5] - The property encompasses 292,000 square feet and was built in 2021[5] - The property is 93.6% leased with a weighted average lease term of 9.3 years[5] - The 12-month cash yield is 6.7%, and the GAAP yield is 8.3%[5] Property Details - The Link is a 25-story lifestyle office tower located in Uptown Dallas[7] - It features first-class amenities, including a customer lounge, fitness and conference centers, and an outdoor terrace[7] - The location provides convenient access to major highways and is near Klyde Warren Park[7] Market Context - Uptown Dallas is described as a dense and amenitized submarket with declining vacancy and rent growth outpacing the national average for lifestyle office product[8, 9] Forward-Looking Statements - The report contains forward-looking statements subject to risks and uncertainties that could cause actual results to vary materially[11, 12] - These statements are based on management's beliefs, assumptions, and expectations, which may change[12]

Financial Performance - For the quarter ended June 2025, Cousins Properties reported revenue of $237.72 million, which is a 12.4% increase compared to the same period last year [1] - The earnings per share (EPS) for the quarter was $0.70, significantly up from $0.05 in the year-ago quarter [1] - The reported revenue was a surprise of -1.97% compared to the Zacks Consensus Estimate of $242.49 million [1] - The consensus EPS estimate was also $0.70, indicating no EPS surprise [1] Key Metrics - Revenues from rental property were $237.72 million, compared to the estimated $242.49 million, reflecting a 12.4% year-over-year change [4] - Other revenues amounted to $1.92 million, exceeding the estimated $0.68 million, representing a 74.8% increase year-over-year [4] - Fee income was reported at $0.49 million, slightly below the average estimate of $0.53 million, but still showing a 21.7% year-over-year increase [4] - Net earnings per share (diluted) were $0.09, compared to the average estimate of $0.08 [4] Stock Performance - Shares of Cousins Properties have returned -8% over the past month, while the Zacks S&P 500 composite has increased by 2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Cousins Properties (CUZ) came out with quarterly funds from operations (FFO) of $0.7 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $0.68 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this real estate company would post FFO of $0.71 per share when it actually produced FFO of $0.74, delivering a surprise of +4.23%.Over the last four quarters, the company has surpassed consensus FFO estimates two times.Cousins Prop ...

Transaction is the Largest for an Office Property in Dallas Year-to-Date1DALLAS, July 31, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the Company has arranged the $218 million sale of The Link at Uptown, a recently delivered Class AA office tower in the Uptown submarket of Dallas, Texas. Vice Chairmen Chris Mu ...

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-11312 COUSINS PROPERTIES INCORPORATED (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 (State or other jurisdiction of incorporation ...

TABLE OF CONTENTS | Forward-Looking Statements | 2 | | --- | --- | | Earnings Release | 3 | | Company Information | 5 | | Consolidated Balance Sheets | 7 | | Consolidated Statements of Operations | 8 | | Key Performance Metrics | 9 | | Funds From Operations - Summary | 12 | | Funds From Operations - Detail | 13 | | Portfolio Statistics | 16 | | Same Property Performance | 19 | | Office Leasing Activity | 20 | | Office Lease Expirations | 21 | | Top 20 Office Tenants | 22 | | Tenant Industry Diversification ...