NYSE$AMH

American Homes 4 Rent · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported strong momentum with over 7% growth in Core FFO per share and unit and 96% end of quarter Same-Home occupancy.

American Homes 4 Rent reported a 3.7% increase in total revenues to $289.6 million for the first quarter of 2020. Net income attributable to common shareholders totaled $20.2 million, or $0.07 per diluted share. The company maintained a strong Same-Home portfolio Average Occupied Days Percentage of 95.3% and achieved a 3.6% year-over-year growth in Average Monthly Realized Rent per property.

  • Total revenues increased 3.7% to $289.6 million.
  • Net income attributable to common shareholders totaled $20.2 million, or $0.07 per diluted share.
  • Core FFO attributable to common share and unit holders was $103.1 million, or $0.29 per FFO share and unit.
  • Maintained strong Same-Home portfolio Average Occupied Days Percentage of 95.3% while achieving a 3.6% year-over-year growth in Average Monthly Realized Rent per property.

Headline financials

Total Revenue

$290M

Previous: $279M+3.7%
EPS (adj)

$0.29

Previous: $0.27+7.4%
Avg Occupied Days %

95.3%

No prior period
Capital Expenditures

-$103M

Previous: -$68.3M-51.4%
Free Cash Flow

-$65.9M

Previous: -$35.2M-87.0%
Net Income

$37.5M

Previous: $33.1M+13.4%
Operating Income

$26.8M

Previous: -$252M+110.6%
Gross Profit

$290M

Previous: $152M+90.8%
Cash & Equivalents

$33.1M

Previous: $155M-78.6%
Total Assets

$9.2B

Previous: $9.19B+0.1%
Stock-Based Comp

$1.81M

Previous: $952K+89.9%

Revenue & EPS history

American Homes 4 Rent · Revenue · Quarterly

$290M

Q1 2020+3.7%vs Q1 2019
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

American Homes 4 Rent · $287M total across 1 segment · Q1 2020

  • Single-family property revenues
    $287M

Forward guidance

Given the rapidly evolving nature of the pandemic and the uncertainties around the long-term economic impacts, the Company believes it is still too early to estimate the impact of the pandemic to the Company’s financial results and therefore has withdrawn full year 2020 guidance previously issued on February 27, 2020.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.3%

Avg return

Earnings day

-0.4%

Avg return

5 days after

+1.1%

Avg return

30 days after

53%

27 / 51 earnings

Positive

+7.6%

Q3 2023

Best reaction

-5.3%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.3%-2.7%+2.5%
Q4 2025-4.2%-3.4%-11.3%
Q3 2025+0.8%+1.0%+0.8%
Q1 2025+3.6%+2.4%-0.1%
Q4 2024-1.6%-2.5%+1.9%
Q3 2024-4.0%-8.4%+1.0%
Q2 2024+4.6%+5.5%+10.2%
Q1 2024-0.5%+1.5%+0.3%
Q4 2023+1.5%+4.1%+4.6%
Q3 2023+7.6%+5.3%+12.3%
Q2 2023+0.8%+1.6%-3.8%
Q1 2023+5.4%+5.9%+4.9%
Q4 2022-4.0%-5.6%-9.2%
Q3 2022-2.9%-4.9%+4.3%
Q2 2022-0.0%+0.4%-5.5%
Q1 2022-2.3%-6.8%-2.3%
Q4 2021+3.9%+0.8%+4.9%
Q3 2021-2.8%-1.7%-0.4%
Q2 2021+0.6%-2.1%+1.8%
Q1 2021+2.9%+2.1%+5.9%
Q4 2020-1.8%-4.1%+7.0%
Q3 2020+3.9%-1.4%+0.4%
Q2 2020+0.6%-3.1%-1.4%
Q1 2020+3.6%-0.7%+13.4%
Q4 2019-4.6%+2.7%-14.8%
Q3 2019-0.6%-0.7%+1.9%
Q2 2019-0.6%-3.0%+2.1%
Q1 2019+1.7%-0.9%+2.2%
Q4 2018-3.5%-3.4%-0.4%
Q3 2018-5.3%-5.6%-1.1%
Q2 2018+1.1%+0.9%+3.8%
Q1 2018+1.3%+1.7%-0.3%
Q4 2017+1.0%+1.1%-0.2%
Q3 2017-0.2%+2.1%+0.5%
Q2 2017-1.1%-2.5%-2.2%
Q1 2017-2.9%-3.1%+1.1%
Q4 2016+2.0%+2.5%+0.8%
Q3 2016+5.2%+5.1%+3.0%
Q2 2016+4.4%+5.2%+3.8%
Q1 2016+5.9%
Q4 2015+4.6%
Q3 2015-3.6%
Q2 2015-4.5%
Q1 2015+1.8%
Q4 2014+0.9%
Q3 2014-2.5%
Q2 2014-0.7%
Q1 2014+1.5%
Q4 2013-1.5%
Q3 2013+0.7%
Q2 2013-1.4%
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012

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