Acadia Realty Trust (AKR) Q4 FY2023 earnings: revenue $86 million, up 6.1% on the year

Acadia Realty Trust (AKR) reported revenue of $86 million for Q4 FY2023, the quarter ended 31 December 2023, up 6.1% on the same quarter a year earlier. Net income was -$1 million, and diluted earnings per share $-0.02. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.

Revenue$86 millionup 6.1%

Net income-$1 million

Diluted EPS$-0.02

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	85.5	81.4	n/a	n/a
Operating income	10.6	6.7	n/a	n/a
Operating margin	12.4%	8.2%	n/a
Pre-tax income	-10.2	-16.3	n/a	n/a
Income tax	0.1	-0.0	n/a	n/a
Net income	-1.3	-1.4	n/a	n/a
Net margin	-1.6%	-1.8%	n/a
Diluted EPS	-$0.02	-$0.02	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	40.6	25.7	n/a	n/a
Capital expenditure	18.3	20.7	n/a	n/a
Free cash flow	22.3	5.0	n/a	n/a
Free cash flow margin	26.1%	6.1%	n/a
Cash from investing	-118	-63.4	n/a	n/a
Cash from financing	76.0	35.4	n/a	n/a
Depreciation and amortisation	35.0	33.7	n/a	n/a
Share-based compensation	2.6	2.6	n/a	n/a
Dividends paid	17.2	17.2	n/a	n/a
Dividend per share	n/a	$0.18	n/a	n/a
Diluted shares, weighted	95m	95m	n/a	n/a
Shares outstanding at period end	95m	95m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	1,637	1,685	n/a	n/a
Non-controlling interest	446	439	n/a	n/a
Redeemable equity	50.3	55.3	n/a	n/a
Debt	1,870	1,820	n/a	n/a
Other liabilities	287	281	n/a	n/a
Total liabilities and equity	4,291	4,281	n/a	n/a
Intangible assets	101	90.0	n/a	n/a
Cash and equivalents	17.5	19.3	n/a	n/a
Other assets	4,173	4,171	n/a	n/a
Total assets	4,291	4,281	n/a	n/a

Questions

What was Acadia Realty Trust's revenue in Q4 FY2023?

Acadia Realty Trust (AKR) reported revenue of $86 million for Q4 FY2023, the quarter ended 31 December 2023, up 6.1% on the same quarter a year earlier.

How much did Acadia Realty Trust earn in Q4 FY2023?

Net loss for Q4 FY2023 was $1 million, and the diluted loss per share $0.02.

When did Acadia Realty Trust report Q4 FY2023 results?

Acadia Realty Trust filed its 10-K for the year that ended with the quarter on 16 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q1 FY2026	Q2 FY2026
Revenue	81.8	89.9	81.4	85.5	91.4	87.3	87.7	93.3	104	101	103	95.4
Operating income	12.1	19.7	6.7	10.6	14.0	17.8	17.5	16.4	15.3	0.8	159	22.7
Operating margin	15%	22%	8%	12%	15%	20%	20%	18%	15%	1%	154%	24%
Pre-tax income	22.1	2.9	-16.3	-10.2	-6.8	1.7	12.3	1.2	-11.5	-20.7	139	23.0
Tax rate	1%	6%	n/a	n/a	n/a	9%	0%	1%	n/a	n/a	0%	1%
Net income	13.4	9.3	-1.4	-1.3	3.3	1.4	8.4	8.5	1.6	2.0	30.5	11.0
Net margin	16%	10%	-2%	-2%	4%	2%	10%	9%	2%	2%	30%	12%
Diluted EPS	$0.14	$0.09	-$0.02	-$0.02	$0.03	$0.01	$0.07	$0.07	$0.01	$0.01	$0.22	$0.05
Operating cash flow	59.4	30.1	25.7	40.6	26.0	32.0	44.6	37.9	25.9	64.8	31.4	58.3
Capital expenditure	12.5	18.0	20.7	18.3	12.8	24.6	25.0	17.9	19.6	27.9	32.2	25.1
Free cash flow	46.9	12.0	5.0	22.3	13.2	7.4	19.6	20.0	6.3	36.9	-0.9	33.2
Dividends paid	17.1	17.1	17.2	17.2	17.2	18.6	18.9	21.6	22.7	26.2	26.2	26.7
Shares outstanding	95m	95m	95m	95m	103m	105m	114m	120m	131m	131m	134m	137m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 16 February 2024, accession 0000950170-24-016567: the filing on EDGAR. All of Acadia Realty Trust's filings: EDGAR company page.

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