Quarterly ResultApr 29, 2026, 04:43 PM
CUZ Q1 Net Loss $24.9M; FFO $0.73/sh; 2026 FFO Guidance Raised
AI Summary
Cousins Properties reported a Q1 2026 net loss of $24.9 million, or $0.15 per share, primarily due to an impairment charge, while Funds From Operations (FFO) was $0.73 per share. The company achieved strong operational results with a 5.5% increase in same property NOI and executed 932,000 square feet of office leases. CUZ also acquired a $317.5 million property, sold another for $39.5 million, issued $500 million in senior notes, and repurchased 3.9 million shares. The company raised its 2026 FFO guidance to $2.90-$2.98 per share, driven by share repurchases and favorable debt financings.
Key Highlights
- Q1 2026 Net Loss $24.9M ($0.15/share) vs. Net Income $20.9M ($0.12/share) in Q1 2025.
- Q1 2026 Funds From Operations (FFO) $122.9M ($0.73/share) vs. $124.8M ($0.74/share) in Q1 2025.
- 2026 FFO guidance raised to $2.90-$2.98/share from $2.87-$2.97/share.
- Same property net operating income (cash-basis) increased 5.5% in Q1 2026.
- Executed 932,000 square feet of office leases, with 483,000 sq ft new/expansion.
- Acquired 300 South Tryon for $317.5M and sold Harborview Plaza for $39.5M.
- Issued $500M of 4.875% unsecured senior notes due 2033, generating $492.1M net proceeds.
- Repurchased 3.9M shares at $23.36/share; share repurchase program increased to $500M.