Filing Flows › Agree Realty (ADC) › Q2 2026
Agree Realty (ADC) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
Agree Realty (ADC) reported revenue of $205M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +2% from the quarter before. Operating margin was 46.5%, net earnings $54.8M (26.7% of revenue).
Agree Realty, Q2 2026: revenue $205M (+17% year over year), operating margin 46.5%, net earnings $54.8M, operating cash flow $131M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $205M | +2% | +17% |
| Operating profit | $95.3M | -3% | +16% |
| Net earnings | $54.8M | -12% | +11% |
| Operating cash flow | $131M | -10% | +9% |
What changed
Revenue was $205.1M in Q2 2026, up 17% year over year and up 2% from the previous quarter.
Operating profit was $95.3M, a 46.5% margin (down 0.2 points year over year). Of the extra revenue versus Q2 2025, 45% reached operating profit, below the 47% margin then. Total costs grew 17% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+19%). Net earnings were $54.7M, up 11% year over year. The effective tax rate was 0.7%.
Operating cash flow was $131.0M (up 9% year over year), 239% of net earnings. Non-cash charges added back $69.1M of depreciation and amortization and $3.8M of share-based compensation.
Questions
What was Agree Realty's revenue in the second quarter 2026?
Agree Realty (ADC) reported revenue of $205M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +2% from the quarter before.
Was Agree Realty profitable in the second quarter 2026?
Operating profit was $95.3M (46.5% of revenue) and net earnings $54.8M.
Source: Agree Realty 10-Q on SEC EDGAR.