AMH Q2 net income $98M, raises FY Core FFO guidance; announces $625M JV

American Homes 4 Rent

2023-Q2 EPS reported $0.59

Net income $98M ($0.27 diluted) vs $56.6M ($0.16) YoY; revenue +9.3% to $395.5M.
Core FFO $0.41/share (+7.6% YoY); FY guidance raised to $1.62-$1.66 per share (midpoint $1.64).
Same-Home Core NOI +4.8% to $193M; average occupied days 97% with 9.4% rate growth on new leases.
Formed $625M second JV with J.P. Morgan AM; AMH holds 20% ownership, earns development/management fees.
Moody's upgraded senior unsecured rating to Baa2 from Baa3 with stable outlook in May 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

American Homes 4 Rent reported the quarter ended June 30, 2023 results: revenue $395.5 million, net income $98.0 million, EPS $0.27 per diluted share. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $395.5 million
Net income: $98.0 million
EPS: $0.27 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Net income attributable to common shareholders totaled $98.0 million, or $0.27 per diluted share, for the second quarter of 2023, compared to $56.6 million, or $0.16 per diluted share, for the second quarter of 2022. This increase was primarily due to higher net gains on property sales, a larger number of occupied properties, higher rental rates and a nonrecurring noncash charge resulting from the redemption of our Series F perpetual preferred shares in the second quarter of 2022. Rents and other single-family property revenues increased 9.3% to $395.5 million for the second quarter of 2023, compared to $361.9 million for the second quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

American Homes 4 Rent reported the six-month period ended June 30, 2023 results: revenue $793.3 million, net income $215.5 million, EPS $0.59 per diluted share.

Period: the six-month period ended June 30, 2023
Revenue: $793.3 million
Net income: $215.5 million
EPS: $0.59 per diluted share
Result: reported results

Exact text from the filing

Net income attributable to common shareholders totaled $215.5 million, or $0.59 per diluted share, for the six-month period ended June 30, 2023, compared to $112.5 million, or $0.32 per diluted share, for the six-month period ended June 30, 2022. This increase was primarily due to higher net gains on property sales, a larger number of occupied properties, higher rental rates and a nonrecurring noncash charge resulting from the redemption of our Series F perpetual preferred shares in the second quarter of 2022. Rents and other single-family property revenues increased 10.5% to $793.3 million for the six-month period ended June 30, 2023, compared to $718.0 million for the six-month period ended June 30, 2022.

View on SEC.gov

Browse all earnings releases →

American Homes 4 Rent filing history →

Source: SEC EDGAR

accession 0001562401-23-000094

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.