EarningsQ2 2026 Earnings Report
MX:CUZ Q2 2026 EPS Results
Actual EPS$2.93
Consensus EPS$1.41
Beat/MissBeat by +$1.52
One Year Ago EPS$1.65
MX:CUZ Q2 2026 Revenue Results
Actual Revenue$4.91B
Expected Revenue$4.81B
Beat/MissBeat by +$100.36M
YoY Revenue Growth+11.83%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:CUZ Upcoming Earnings
Cousins Properties's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CUZ Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial performance: robust leasing volumes (924k sq ft in Q2, 1.9M H1), solid rent roll-ups (9.2% company-wide; market-leading results in Atlanta and Austin), same-property NOI growth (+5.9% YoY in Q2), improved net effective rents (+8.5% Q2, +16.8% H1 vs. 2025), and strengthened liquidity with a new $1.2B unsecured facility. Management is actively recycling capital into higher-quality and development opportunities (Neuhoff stabilization, 5th & Walsh JV, 100 Mill buyout) while retaining flexibility via forward equity and financing. Headwinds are largely operational/timing in nature—notably large upcoming expirations in certain assets (Charlotte, Legacy Union One), a wider leased-to-occupied spread that delays NOI recognition, and limited remaining noncore inventory implying tighter spreads on future recycling. Given that the positive indicators (leasing, rent growth, NOI, balance sheet) materially outweigh the manageable risks, the overall tone is constructive and confident for the back half of 2026 and beyond.Company Guidance
Strong FFO Performance and Upgraded Guidance
Reported Q2 FFO of $0.75 per share; raised full-year 2026 FFO midpoint by $0.01 to $2.95 per share (represents 3.9% growth vs. 2025). This marks the third consecutive year of FFO growth and a 4.0% compounded annual growth rate since 2023.
Exceptional Leasing Volume and Occupancy Momentum
Completed 924,000 square feet of leases in Q2 and 1.9 million square feet in H1 2026 (first half volume roughly equals an average full year over the past decade). Portfolio leased percentage was 92.8% and weighted average occupancy rose to 89.4% (up 50 basis points sequentially); company expects to reach ~90% occupancy by year-end.
Consistent Positive Second-Generation Rent Roll-Ups
Second-generation cash rent roll-up of 9.2% in the quarter, marking 49 consecutive quarters of positive rent roll-ups. Market-leading cash rent roll-ups in key markets: Atlanta +14.3% this quarter and Austin +16.3% YTD.
Meaningful Net Effective Rent Growth
Average net rent was $41.35, average concessions $10.17 and average net effective rent $28.05. Net effective rent grew 8.5% in Q2 and 16.8% for the first half of 2026 versus full-year 2025.
Same-Property NOI and Operating Strength
Same-property cash NOI increased 5.9% year-over-year in Q2 (following +5.5% in Q1), reflecting strengthening Sun Belt fundamentals and higher rental economics across the portfolio.
Active Capital Recycling and Portfolio Upgrade
Executed selective dispositions (Research Park Plaza 5 sold for $42M at $243/sf; One Eleven Congress sold for $208M at $400/sf) and a partner buyout (acquired remaining 10% of 100 Mill for $18.5M valuing the asset at $158.7M or $552/sf). Management cited transactions trading around ~9% combined cap rate for marketed noncore assets.
Balance Sheet and Financing Improvements
Closed a new 5-year $1.2 billion unsecured credit facility and improved borrowing spread by 15 basis points; added extension options on $500M of term loans—supporting flexibility for selective acquisitions and development.
Development/Investment Wins and Project Momentum
Neuhoff in Nashville: office component ~96% leased and multifamily >94% leased (90% occupancy). Entered JV on 5th & Walsh (Austin) ground-breaking — 199k sf building 58% pre-leased; Cousins to invest up to $31.5M preferred equity with a 10% preferred return and right of first offer post-completion.
MX:CUZ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed