Filing Flows › Mid America Apartment Communities (MAA) › Q4 2024
Mid America Apartment Communities (MAA) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 7, 2025
Mid America Apartment Communities (MAA) reported revenue of $550M for the fourth quarter 2024 (Q4 2024), +1% from a year earlier and -0.2% from the quarter before. Operating margin was 31.3%, net earnings $167M (30.3% of revenue).
Mid America Apartment Communities, Q4 2024: revenue $550M (+1% year over year), operating margin 31.3%, net earnings $167M, operating cash flow $239M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $550M | -0.2% | +1% |
| Operating profit | $172M | +45% | +4% |
| Net earnings | $167M | +45% | +4% |
| Operating cash flow | $239M | -23% | -10% |
| Free cash flow | $153M | -29% | -17% |
What changed
Revenue was $549.8M in Q4 2024, up 1% year over year and roughly flat from the previous quarter. Same Store was the largest line at 95% of revenue.
Operating profit was $172.3M, a 31.3% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 89% reached operating profit, above the 31% margin then. Total costs grew 0% against revenue growth of 1%. Net earnings were $166.6M, up 4% year over year. The effective tax rate was 1.0%.
Operating cash flow was $239.1M (down 10% year over year), 140% of net income including minority interests. Non-cash charges added back $151.1M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items used $86.4M. Capital expenditures of $86.5M left free cash flow of $152.6M.
Questions
What was Mid America Apartment Communities' revenue in the fourth quarter 2024?
Mid America Apartment Communities (MAA) reported revenue of $550M for the fourth quarter 2024 (Q4 2024), +1% from a year earlier and -0.2% from the quarter before.
Was Mid America Apartment Communities profitable in the fourth quarter 2024?
Operating profit was $172M (31.3% of revenue) and net earnings $167M.
Source: Mid America Apartment Communities 10-K on SEC EDGAR.