American Homes 4 Rent Q3 net income rises to $50.7M; cuts FY Core FFO guidance on Texas property taxes

American Homes 4 Rent

2022-Q3 EPS reported $0.47

Q3 revenue up 15.3% to $391.6M; net income $50.7M ($0.14/diluted share) vs $36.9M ($0.11) year ago.
Core FFO per share/unit $0.39, up 11.6% YoY; Adjusted FFO $0.33, up 9.8%.
Same-Home Core NOI growth 9.3% to $175.2M; occupied days 97.1%, new lease rate growth 12.5%.
Hurricane Ian net charge $6.1M excluded from Core FFO; Texas property tax growth >20% drives guidance revision.
FY 2022 Core FFO guidance narrowed to $1.52-$1.56 from $1.54-$1.58; Same-Home Core NOI growth lowered to 8.25%-9.75%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

American Homes 4 Rent reported the quarter ended September 30, 2022 results: revenue $391.6 million, net income $50.7 million, EPS $0.14 per diluted share.

Period: the quarter ended September 30, 2022
Revenue: $391.6 million
Net income: $50.7 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

its financial and operating results for the quarter ended September 30, 2022. Highlights • Rents and other single-family property revenues increased 15.3% year-over-year to $391.6 million for the third quarter of 2022. • Net income attributable to common shareholders totaled $50.7 million, or $0.14 per diluted share, for the third quarter of 2022, compared to

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Source: SEC EDGAR

accession 0001562401-22-000112

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