Filing Flows › Mid America Apartment Communities (MAA) › Q1 2025
Mid America Apartment Communities (MAA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Mid America Apartment Communities (MAA) reported revenue of $549M for the first quarter 2025 (Q1 2025), +1% from a year earlier and -0.1% from the quarter before. Operating margin was 34.0%, net earnings $182M (33.1% of revenue).
Mid America Apartment Communities, Q1 2025: revenue $549M (+1% year over year), operating margin 34.0%, net earnings $182M, operating cash flow $197M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $549M | -0.1% | +1% |
| Operating profit | $187M | +9% | +26% |
| Net earnings | $182M | +9% | +26% |
| Operating cash flow | $197M | -18% | -2% |
| Free cash flow | $124M | -19% | -16% |
What changed
Revenue was $549.3M in Q1 2025, up 1% year over year and roughly flat from the previous quarter. Same Store was the largest line at 94% of revenue. Non Same Store and Other added $5.4M year over year (up 21%), 95% of the total change.
Operating profit was $187.0M, a 34.0% margin (up 6.6 points year over year). Of the extra revenue versus a year earlier, 671% reached operating profit, above the 27% margin then. Total costs fell 8% while revenue rose 1%. Net earnings were $181.7M, up 26% year over year. The effective tax rate was 0.6%.
Operating cash flow was $196.6M (down 2% year over year), 105% of net income including minority interests. Non-cash charges added back $152.5M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items used $147.6M. Capital expenditures of $72.6M left free cash flow of $124.0M.
Questions
What was Mid America Apartment Communities' revenue in the first quarter 2025?
Mid America Apartment Communities (MAA) reported revenue of $549M for the first quarter 2025 (Q1 2025), +1% from a year earlier and -0.1% from the quarter before.
Was Mid America Apartment Communities profitable in the first quarter 2025?
Operating profit was $187M (34.0% of revenue) and net earnings $182M.
Source: Mid America Apartment Communities 10-Q on SEC EDGAR.