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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 $152.58 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 17.5%. EPS of $1.04 for the same period compares to $0.42 a year ago.
The reported revenue represents a surprise of +1.50% over the Zacks Consensus Estimate of $150.33 million. With the consensus EPS estimate being $1.03, the EPS surprise was +0.97%.
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 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: $152.42 million versus the five-analyst average estimate of $149.79 million. The reported number represents a year-over-year change of +17.4%.
Revenues- Rental income- Operating cost reimbursement: $15.94 million versus $16.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +10% change.
Revenues- Other: $0.15 million versus $0.03 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +529.2% change.
Net Earnings Per Share (Diluted): $0.52 versus the five-analyst average estimate of $0.44.
Shares of Agree Realty have returned +7.4% over the past month versus the Zacks S&P 500 composite's +2% 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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Compared to Estimates, Agree Realty (ADC) Q2 Earnings: A Look at Key Metrics
Agree Realty (ADC - Free Report) reported $152.58 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 17.5%. EPS of $1.04 for the same period compares to $0.42 a year ago.
The reported revenue represents a surprise of +1.50% over the Zacks Consensus Estimate of $150.33 million. With the consensus EPS estimate being $1.03, the EPS surprise was +0.97%.
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 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: $152.42 million versus the five-analyst average estimate of $149.79 million. The reported number represents a year-over-year change of +17.4%.
- Revenues- Rental income- Operating cost reimbursement: $15.94 million versus $16.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +10% change.
- Revenues- Other: $0.15 million versus $0.03 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +529.2% change.
- Net Earnings Per Share (Diluted): $0.52 versus the five-analyst average estimate of $0.44.
View all Key Company Metrics for Agree Realty here>>>Shares of Agree Realty have returned +7.4% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.