Filing Flows › Mid America Apartment Communities (MAA) › Q1 2026
Mid America Apartment Communities (MAA) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Mid America Apartment Communities (MAA) reported revenue of $554M for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and -0.3% from the quarter before. Operating margin was 23.8%, net earnings $124M (22.5% of revenue).
Mid America Apartment Communities, Q1 2026: revenue $554M (+0.8% year over year), operating margin 23.8%, net earnings $124M, operating cash flow $150M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $554M | -0.3% | +0.8% |
| Operating profit | $132M | +126% | -29% |
| Net earnings | $124M | +116% | -32% |
| Operating cash flow | $150M | -43% | -24% |
| Free cash flow | $91.3M | -42% | -26% |
What changed
Revenue was $553.7M in Q1 2026, up 1% year over year and roughly flat from the previous quarter. Same Store was the largest line at 93% of revenue. Non Same Store and Other added $6.3M year over year (up 21%), 142% of the total change.
Operating profit was $131.9M, a 23.8% margin (down 10.2 points year over year). Operating profit fell $55.1M even though revenue rose $4.4M versus Q1 2025, so costs grew faster than sales. Total costs grew 16% against revenue growth of 1%. The fastest-growing cost line was Other operating costs (+17%). Net earnings were $124.4M, down 32% year over year. The effective tax rate was 4.2%.
Operating cash flow was $149.6M (down 24% year over year), 118% of net earnings. Non-cash charges added back $162.0M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items used $144.8M. Capital expenditures of $58.4M left free cash flow of $91.3M.
Questions
What was Mid America Apartment Communities' revenue in the first quarter 2026?
Mid America Apartment Communities (MAA) reported revenue of $554M for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and -0.3% from the quarter before.
Was Mid America Apartment Communities profitable in the first quarter 2026?
Operating profit was $132M (23.8% of revenue) and net earnings $124M.
Source: Mid America Apartment Communities 10-Q on SEC EDGAR.