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Apartment Income REIT Corp. (AIRC) Reports Q2 Earnings: What Key Metrics Have to Say
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Apartment Income REIT Corp. (AIRC - Free Report) reported $214.56 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 16.9%. EPS of $0.58 for the same period compares to $1.26 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $211.46 million, representing a surprise of +1.47%. The company delivered an EPS surprise of -1.69%, with the consensus EPS estimate being $0.59.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Apartment Income REIT Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Other revenues: $2.07 million versus $2.15 million estimated by two analysts on average.
Rental and other property revenues: $212.49 million compared to the $213.45 million average estimate based on two analysts. The reported number represents a change of +17.4% year over year.
Net income attributable to per common share- diluted: -$0.01 versus $0.04 estimated by three analysts on average.
Interest income: $1.51 million versus $1.37 million estimated by two analysts on average.
Shares of Apartment Income REIT Corp. have returned +0.3% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Apartment Income REIT Corp. (AIRC) Reports Q2 Earnings: What Key Metrics Have to Say
Apartment Income REIT Corp. (AIRC - Free Report) reported $214.56 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 16.9%. EPS of $0.58 for the same period compares to $1.26 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $211.46 million, representing a surprise of +1.47%. The company delivered an EPS surprise of -1.69%, with the consensus EPS estimate being $0.59.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Apartment Income REIT Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Other revenues: $2.07 million versus $2.15 million estimated by two analysts on average.
- Rental and other property revenues: $212.49 million compared to the $213.45 million average estimate based on two analysts. The reported number represents a change of +17.4% year over year.
- Net income attributable to per common share- diluted: -$0.01 versus $0.04 estimated by three analysts on average.
- Interest income: $1.51 million versus $1.37 million estimated by two analysts on average.
View all Key Company Metrics for Apartment Income REIT Corp. here>>>Shares of Apartment Income REIT Corp. have returned +0.3% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.