CUZ earnings analysis
What we found in CUZ's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Cousins Properties reported disappointing results for Q1 2026, posting a significant net loss of $24.9 million and a diluted EPS loss of $0.15, contrasting sharply with the previous year's net income of $20.9 million and an EPS of $0.12. Revenue rose to $261.1 million, an 8.0% increase from $243.0 million in Q1 2025, showcasing growth despite the loss. Changes in balance sheet components indicated increased leverage and cash outflows from investing activities, while operating cash flow remained stable.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 8.0% Revenue Growth
- Revenue increased to $261.1 million from $243.0 million in Q1 2025, an increase of $18.1 million.
- Impacts of Impairment Loss
- The company recorded an impairment loss of $36.6 million, contributing to the net loss of $24.9 million.
- NOI from Acquisitions
- Total Net Operating Income (NOI) increased by 8.4% to $176.7 million, up from $163.0 million.
- Leasing Activity Metrics
- Leased 932,000 square feet in Q1 2026, including 483,000 square feet of new leases.
- Increased Debt Levels
- The company issued $500 million in unsecured senior notes, contributing to total unsecured debt now at $1.9 billion.
- Cash Flow from Operations
- Net cash provided by operating activities totaled $40.5 million, only down by $4.3 million year-over-year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Interest Expense
- Interest expense rose by 22.6%, from $36.8 million in Q1 2025 to $45.1 million due to new debt issuance.
- Significant Net Loss
- Net loss of $24.9 million contrasts with $20.9 million in net income for the same quarter last year.
- Decline in Other Income
- Other income decreased significantly by $6.0 million mainly due to the sale of a bankruptcy claim in Q1 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.15
What they said about what is next.
Outlook involves strong leasing pipeline, but no numerical guidance provided.
The filing reads worse than the one before it.
What came before.
- 10-K · February 5, 2026
- Cousins Properties reiterates a Sun Belt-focused, ‘lifestyle office’ strategy targeting Austin, Atlanta, Charlotte, Tampa, Phoenix, Dallas and Nashville and emphasizes disciplined capital allocation through…
- 10-Q · October 30, 2025
- Cousins Properties reported Q3 revenue of $248.326M, up 18.7% versus $209.212M a year ago, driven by higher rental property revenues. Despite top-line growth, net income available to common stockholders fell to $8.59M…
- 10-Q · July 31, 2025
- Cousins Properties reported Q2 2025 revenue of $240.128M, up 12.8% year-over-year but down 4.1% sequentially. Operating margin improved materially year-over-year to ~22.8% (operating income $54.8M) and diluted EPS rose…
- 10-Q · July 25, 2024
- Cousins Properties reported a solid second quarter for 2024, with revenues increasing by 4.2% to $212.978 million compared to $204.320 million in the same quarter last year. However, net income dropped significantly to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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