Apartment Investment & Management Increases Sales but Misses Revenue Estimate
Apartment Investment & Management (NYS: AIV) reported earnings on Feb. 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Apartment Investment & Management missed estimates on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share dropped.
Margins expanded across the board.
Apartment Investment & Management reported revenue of $263.0 million. The seven analysts polled by S&P Capital IQ expected to see a top line of $268.5 million on the same basis. GAAP reported sales were 2.3% higher than the prior-year quarter's $266.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at -$0.31. The three earnings estimates compiled by S&P Capital IQ averaged -$0.33 per share on the same basis. GAAP EPS were -$0.06 for Q4 against -$0.33 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 59.4%, 360 basis points better than the prior-year quarter. Operating margin was 16.1%, 750 basis points better than the prior-year quarter. Net margin was -4.7%, 330 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $272.7 million. On the bottom line, the average EPS estimate is -$0.36.
Next year's average estimate for revenue is $1.10 billion. The average EPS estimate is -$1.12.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 123 members out of 295 rating the stock outperform, and 172 members rating it underperform. Among 107 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give Apartment Investment & Management a green thumbs-up, and 54 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Apartment Investment & Management is hold, with an average price target of $25.34.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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