Cousins Properties Incorporated (NYSE:CUZ) Q1 2022 Earnings Conference Call April 29, 2022 10:00 AM ET

Company Representatives

Colin Connolly - President, Chief Executive Officer

Richard Hickson - Executive Vice President of Operations

Gregg Adzema - Chief Financial Officer

Pamela Roper - General Counsel

Conference Call Participants

Blaine Heck - Wells Fargo

Anthony Powell - Barclays

Jamie Feldman - Bank of America

Vikram Malhotra - Mizuho

Michael Lewis - Truist

Daniel Ismail - Green Street Advisors

Operator

Good day! And welcome to the Cousins Properties First Quarter Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Pamela Roper, General Counsel. Please go ahead.

Pamela Roper

Thank you. Good morning and welcome to Cousins Properties First Quarter Earnings Conference Call. With me today are Colin Connolly, our President and Chief Executive Officer; Richard Hickson, our Executive Vice President of Operations; and Gregg Adzema, our Chief Financial Officer.

The press release and supplemental package were distributed yesterday afternoon as well as furnished on Form 8-K. In the supplemental package, the company has reconciled all non-GAAP financial measures to the most directly comparable GAAP measures in accordance with Reg G requirements. If you did not receive a copy, these documents are available through the quarterly disclosures and supplemental SEC information links on the Investor Relations page of our website, cousins.com.

Please be aware that certain matters discussed today may constitute forward-looking statements within the meaning of federal securities laws, and actual results may differ materially from these statements due to a variety of risks and uncertainties and other factors, including the risk factors set forth in our annual report on Form 10-K and our other SEC filings.

The company does not undertake any duty to update any forward-looking statements, whether as a result of new information, future events or otherwise. The full declaration regarding forward-looking statements is available on the supplemental package posted yesterday, and a detailed discussion of some potential risks is contained in our filings with the SEC.

With that, I'll turn the call over to Colin Connolly.

Colin Connolly

Thank you, Pam, and good morning everyone. Before addressing the longer term outlook, I want to provide a few financial highlights. As we have discussed in the past, 2022 is a transitional year for Cousins and I'm pleased to report that we are off to a strong start. On the earnings front, the team delivered $0.67 per share in FFO. In addition, we leased 324,000 square feet with a 15% increase in second generation cash rents.