Agree Realty (ADC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Agree Realty (ADC) reported revenue of $136.81 million, up 24.3% over the same period last year. EPS came in at $1.00, compared to $0.56 in the year-ago quarter.
The reported revenue represents a surprise of +0.76% over the Zacks Consensus Estimate of $135.79 million. With the consensus EPS estimate being $0.98, the EPS surprise was +2.04%.
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.
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 Agree Realty performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Rental income: $136.77 million versus $133.24 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +24.3% change.
Revenues- Rental income- Operating cost reimbursement: $14.52 million versus $14.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.9% change.
Revenues- Other: $0.04 million versus $0.03 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.
Net Earnings Per Share (Diluted): $0.41 compared to the $0.41 average estimate based on three analysts.
View all Key Company Metrics for Agree Realty here>>>
Shares of Agree Realty have returned -5% over the past month versus the Zacks S&P 500 composite's -2.3% 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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Agree Realty Corporation (ADC) : Free Stock Analysis Report
