AHH Earnings Prediction
The chart below shows how AHH performed 10 days before and after its earnings report, based on data from the past quarters. Typically, AHH sees a -1.04% change in stock price 10 days leading up to the earnings, and a +0.79% change 10 days following the report. On the earnings day itself, the stock moves by +1.00%. This data can give you a slight idea of what to expect for the next quarter's release.
AHH Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
187.65M
13.04%
1.58%
Gross Margin
15.96%
3.03%
-2.74%
Operating Margin
13.91%
7.75%
-0.43%
Net Margin
-4.02%
-179.29%
-327.12%
EPS
-0.11
-283.33%
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No Data Available
AHH Earnings Analysis
Armada Hoffler Properties, Inc. Corporation (AHH.N) Earnings Conference Call
Positive
Normalized FFO Performance: 1. Strong Normalized FFO: Armada Hoffler reported a normalized FFO of $0.35 per diluted share for Q3 2024, aligning with expectations and demonstrating solid financial performance.
Equity Offering Success: 2. Successful Equity Offering: The company executed a $108 million common equity offering, which reduced leverage and positioned them to add approximately 900 multifamily units, resulting in a 37% increase in door-count.
Strong Portfolio Occupancy: 3. High Occupancy Rates: The overall portfolio maintained a robust occupancy rate of 95%, with the retail segment achieving 96.2% occupancy and the office segment at 95% occupied, reflecting strong demand.
Strong Leasing Momentum: 4. Positive Leasing Activity: Armada Hoffler executed 37 commercial leases totaling approximately 275,000 square feet at a GAAP spread of 16.7%, indicating strong leasing momentum across their commercial properties.
Balance Sheet Enhancement: 5. Strong Balance Sheet Improvement: The company raised $22.1 million through an ATM and reduced leverage metrics to 5.9 times stabilized and 7.2 times net debt, enhancing their financial stability for future growth.
Negative
Same-Store NRI Decline: 1. Declining Same-Store NRI Growth: The company's same-store NRI growth was reported at negative 1.0% on a GAAP basis and negative 3% on a cash basis for the quarter.
Negative Lease Trade-Outs: 2. Negative New Lease Trade-Outs: The multifamily portfolio experienced negative new lease trade-outs of 0.6%, primarily due to competitive pressures from aggressive incentives in the Gainesville market.
Development Delays Affect Earnings: 3. Development Delays Impacting Earnings: Development delays at Harbor Point have pushed expected project deliveries to early 2025, which may create headwinds for earnings growth during the challenging leasing season.
Anticipated Interest Expense Increase: 4. Increased Interest Expense Anticipated: The company expects to continue capitalizing interest on delayed projects, which could lead to higher-than-expected interest expenses in the upcoming quarters.
Construction Management Challenges: 5. Pressure on Construction Management Segment: The construction management segment is projected to return to historical performance levels in the high single digits next year, indicating potential downward pressure on overall earnings growth.
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AHH Earning Call Sentiment
Armada Hoffler Properties, Inc. (AHH) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
AHH.N
-0.1%Positive
The earnings call presents a mixed picture. Basic financial performance shows steady occupancy and construction profit, but negative same-store NRI growth. Product development updates are positive, with ongoing projects and a strong construction backlog. Market strategy is cautious, facing headwinds in leasing. Financial health is stable with debt reduction but lacks strong growth signals. Shareholder return plans include equity offerings, which may dilute shares. Q&A highlighted concerns about development delays and competitive pressures. Overall, the sentiment is neutral, as positive aspects are balanced by uncertainties and economic challenges.