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Here's What Key Metrics Tell Us About Agree Realty (ADC) Q1 Earnings

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Agree Realty (ADC) reported revenue of $149.45 million, up 18% over the same period last year. EPS came in at $1.03, compared to $0.44 in the year-ago quarter.

The reported revenue represents a surprise of +1.07% over the Zacks Consensus Estimate of $147.88 million. With the consensus EPS estimate being $1.01, the EPS surprise was +1.98%.

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.

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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: $149.42 million versus $147.34 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18% change.

  • Revenues- Rental income- Operating cost reimbursement: $16.47 million versus $15.80 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.

  • Revenues- Other: $0.03 million versus $0.02 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +244.4% change.

  • Net Earnings Per Share (Diluted): $0.43 versus $0.44 estimated by three analysts on average.

View all Key Company Metrics for Agree Realty here>>>

Shares of Agree Realty have returned +1.5% over the past month versus the Zacks S&P 500 composite's -4.2% 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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Zacks Investment Research