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AvalonBay (AVB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended March 2024, AvalonBay Communities (AVB) reported revenue of $712.86 million, up 5.7% over the same period last year. EPS came in at $2.70, compared to $1.05 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $706.61 million, representing a surprise of +0.88%. The company delivered an EPS surprise of +2.27%, with the consensus EPS estimate being $2.64.

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.

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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% compared to the 95.9% average estimate based on two analysts.

  • Revenue- Management, development and other fees: $1.80 million compared to the $1.79 million average estimate based on six analysts. The reported number represents a change of +68.4% year over year.

  • Revenue- Rental and other income: $711.06 million versus $705.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.

  • Net Earnings Per Share (Diluted): $1.22 versus $1.15 estimated by seven analysts on average.

View all Key Company Metrics for AvalonBay here>>>

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