Highwoods Properties, Inc. (NYSE:HIW) Q1 2024 Earnings Conference Call April 24, 2024 11:00 AM ET

Company Participants

Hannah True - Manager of Finance and Corporate Strategy
Ted Klinck - President and Chief Executive Officer
Brian Leary - Executive Vice President and Chief Operating Officer
Brendan Maiorana - Executive Vice President and Chief Financial Officer

Conference Call Participants

Camille Bonnel - Bank of America
Georgi Dinkov - Mizuho Securities
Blaine Heck - Wells Fargo Securities
Michael Griffin - Citi
Robert Stevenson - Janney Montgomery Scott
Michael Lewis - Truist Securities
Omotayo Okusanya - Deutsche Bank
Peter Abramowitz - Jefferies
Ronald Kamdem - Morgan Stanley
Dylan Burzinski - Green Street

Operator

Thank you all for joining. I would like to welcome you all to the Highwoods Properties Q1 2024 Earnings Call. My name is Brika and I will be your moderator for today. All lines are on mute for the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions] Thank you.

And now I would like to pass the conference over to your host Hannah True, Manager of Corporate Finance and Strategy to begin. So, Hannah, please go ahead.

Hannah True

Thank you, operator, and good morning, everyone. Joining me on the call this morning are Ted Klinck, our Chief Executive Officer; Brian Leary, our Chief Operating Officer; and Brendan Maiorana, our Chief Financial Officer.

For your convenience, today's prepared remarks have been posted on the web. If you have not received yesterday's earnings release or supplemental, they are both available on the Investors section of our website at highwoods.com.

On today's call, our review will include non-GAAP measures such as FFO, NOI and EBITDAre. The release and supplemental include a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.

Forward-looking statements made during today's call are subject to risks and uncertainties. These risks and uncertainties are discussed at length in our press releases as well as our SEC filings. As you know, actual events and results can differ materially from these forward-looking statements and the company does not undertake a duty to update any forward-looking statements.

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

Ted Klinck

Thanks, Hannah, and good morning, everyone. We had an excellent quarter executing on our key priorities and delivering solid financial results. First, we signed 922,000 square feet of second gen leases, including over 400,000 square feet of new leases and 36,000 square feet of net expansions. This volume of work will benefit us in future periods as the new leases commence.