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Compared to Estimates, Agree Realty (ADC) Q2 Earnings: A Look at Key Metrics
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Agree Realty (ADC - Free Report) reported $129.9 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 23.9%. EPS of $0.98 for the same period compares to $0.56 a year ago.
The reported revenue represents a surprise of -0.57% over the Zacks Consensus Estimate of $130.64 million. With the consensus EPS estimate being $0.98, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 Agree Realty performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Other Revenue: $0.02 million versus $0.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -71.1% change.
Rental income: $129.88 million versus $128.72 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +23.9% change.
Rental income- Operating cost reimbursement: $14.50 million compared to the $13.95 million average estimate based on two analysts. The reported number represents a change of +24.1% year over year.
Net Earnings Per Share (Diluted): $0.42 versus $0.43 estimated by three analysts on average.
Shares of Agree Realty have returned -1.6% over the past month versus the Zacks S&P 500 composite's +3.3% 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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Compared to Estimates, Agree Realty (ADC) Q2 Earnings: A Look at Key Metrics
Agree Realty (ADC - Free Report) reported $129.9 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 23.9%. EPS of $0.98 for the same period compares to $0.56 a year ago.
The reported revenue represents a surprise of -0.57% over the Zacks Consensus Estimate of $130.64 million. With the consensus EPS estimate being $0.98, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 Agree Realty performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Other Revenue: $0.02 million versus $0.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -71.1% change.
- Rental income: $129.88 million versus $128.72 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +23.9% change.
- Rental income- Operating cost reimbursement: $14.50 million compared to the $13.95 million average estimate based on two analysts. The reported number represents a change of +24.1% year over year.
- Net Earnings Per Share (Diluted): $0.42 versus $0.43 estimated by three analysts on average.
View all Key Company Metrics for Agree Realty here>>>Shares of Agree Realty have returned -1.6% over the past month versus the Zacks S&P 500 composite's +3.3% 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.