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AvalonBay (AVB) Reports Q2 Earnings: What Key Metrics Have to Say
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AvalonBay Communities (AVB - Free Report) reported $690.86 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 7.2%. EPS of $2.66 for the same period compares to $0.99 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $675.67 million, representing a surprise of +2.25%. The company delivered an EPS surprise of +2.31%, with the consensus EPS estimate being $2.60.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how AvalonBay performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Same Store Economic Occupancy: 95.9% versus the two-analyst average estimate of 96.1%.
Revenue- Rental and other income: $688.15 million compared to the $675.02 million average estimate based on six analysts. The reported number represents a change of +6.9% year over year.
Revenue- Management, development and other fees: $2.71 million versus the five-analyst average estimate of $1.38 million. The reported number represents a year-over-year change of +200%.
Net Earnings Per Share (Diluted): $2.59 versus $1.59 estimated by six analysts on average.
Shares of AvalonBay have returned -1.7% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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AvalonBay (AVB) Reports Q2 Earnings: What Key Metrics Have to Say
AvalonBay Communities (AVB - Free Report) reported $690.86 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 7.2%. EPS of $2.66 for the same period compares to $0.99 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $675.67 million, representing a surprise of +2.25%. The company delivered an EPS surprise of +2.31%, with the consensus EPS estimate being $2.60.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how AvalonBay performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Same Store Economic Occupancy: 95.9% versus the two-analyst average estimate of 96.1%.
- Revenue- Rental and other income: $688.15 million compared to the $675.02 million average estimate based on six analysts. The reported number represents a change of +6.9% year over year.
- Revenue- Management, development and other fees: $2.71 million versus the five-analyst average estimate of $1.38 million. The reported number represents a year-over-year change of +200%.
- Net Earnings Per Share (Diluted): $2.59 versus $1.59 estimated by six analysts on average.
View all Key Company Metrics for AvalonBay here>>>Shares of AvalonBay have returned -1.7% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.