How did CUZ's Q4 earnings surprise investors?

Cousins Properties (CUZ) experienced a slight discrepancy between its estimated and actual earnings for Q4 2024, which likely surprised investors in the following ways:

1. **Estimate vs. Actual EPS**: The estimated EPS for Q4 2024 was $0.09, which matched the actual EPS reported by the company. This means that investors' expectations were met in terms of earnings per share.

2. **Revenue Surprise**: The estimated revenue for the quarter was $210.97 million, while the actual revenue reported was $225.33 million. This $14.36 million difference, or approximately 6.8%, constituted a positive surprise, indicating that the company's revenue exceeded investors' expectations.
3. **Investor Reaction to Revenue Surprise**: Given that the company's FFO (Funds From Operations) was $0.67 per share, the same-property net operating income increased by 4.4% on a cash basis, and leasing volume reached 763,000 square feet leased during the quarter, the positive revenue surprise might have been overshadowed by the mixed financial metrics and market conditions.
4. **Market Reaction**: The market's reaction to the earnings release was muted, with the stock price of CUZ experiencing a slight decline of 4.16%. This could suggest that the positive revenue surprise was not enough to drive significant investor confidence or optimism about the company's future prospects.

In conclusion, while CUZ's Q4 earnings report showed a positive revenue surprise, the overall impact on investors was likely tempered by the mixed financial metrics and broader market conditions.