Filing Flows › Mid America Apartment Communities (MAA) › Q3 2025
Mid America Apartment Communities (MAA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Mid America Apartment Communities (MAA) reported revenue of $554M for the third quarter 2025 (Q3 2025), +0.6% from a year earlier and +0.8% from the quarter before. Operating margin was 18.7%, net earnings $99.5M (18.0% of revenue).
Mid America Apartment Communities, Q3 2025: revenue $554M (+0.6% year over year), operating margin 18.7%, net earnings $99.5M, operating cash flow $266M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $554M | +0.8% | +0.6% |
| Operating profit | $104M | -7% | -13% |
| Net earnings | $99.5M | -8% | -14% |
| Operating cash flow | $266M | -25% | -14% |
| Free cash flow | $171M | -35% | -21% |
What changed
Revenue was $554.4M in Q3 2025, up 1% year over year and up 1% from the previous quarter. Same Store was the largest line at 94% of revenue. Non Same Store and Other added $4.7M year over year (up 16%), 144% of the total change.
Operating profit was $103.8M, a 18.7% margin (down 2.8 points year over year). Operating profit fell $15.1M even though revenue rose $3.2M versus a year earlier, so costs grew faster than sales. Total costs grew 4% against revenue growth of 1%. Net earnings were $99.5M, down 14% year over year. The effective tax rate was 1.7%.
Operating cash flow was $266.4M (down 14% year over year), 261% of net income including minority interests. Non-cash charges added back $156.8M of depreciation and amortization and $3.4M of share-based compensation. Capital expenditures of $95.6M left free cash flow of $170.8M.
Questions
What was Mid America Apartment Communities' revenue in the third quarter 2025?
Mid America Apartment Communities (MAA) reported revenue of $554M for the third quarter 2025 (Q3 2025), +0.6% from a year earlier and +0.8% from the quarter before.
Was Mid America Apartment Communities profitable in the third quarter 2025?
Operating profit was $104M (18.7% of revenue) and net earnings $99.5M.
Source: Mid America Apartment Communities 10-Q on SEC EDGAR.