Apartment Investment & Management Co. Earnings: Everything You Must Know Now

Apartment Investment & Management Co. (NYSE:AIV) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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Apartment Investment & Management Co. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 20% to $0.48 in the quarter versus EPS of $0.40 in the year-earlier quarter.

Revenue: Decreased 7.17% to $255.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Apartment Investment & Management Co. reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.46. It beat the average revenue estimate of $253.15 million.

Quoting Management: Chairman and Chief Executive Officer Terry Considine comments: “Aimco had a solid first quarter and we are on track for a good year. First quarter property operating results were on target and portfolio management activities were executed as planned. In the first quarter we began lease-up at two of our redevelopment properties, Lincoln Place and Elm Creek. As expected, total leverage continues to decline with predictable income growth and scheduled property debt amortization paid from retained earnings. We are off to a good start in 2013.”

Key Stats (on next page)…

Revenue increased 2.87% from $248.38 million in the previous quarter. EPS decreased 7.69% from $0.52 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.51 to a profit $0.50. For the current year, the average estimate has moved down from a profit of $2.05 to a profit of $2.02 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)