Armada Hoffler Properties, Inc. (AHH)

Armada Hoffler Properties Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	260.5	256.7	238.92	219.29	192.14	166.49
Other Revenue	265.96	433.42	413.13	234.86	91.94	217.15
Total Revenue	544.17	708.72	667.16	471.13	302.53	383.63
Revenue Growth (YoY	-25.99%	6.23%	41.61%	55.73%	-21.14%	49.00%
Property Expenses	348.53	510.55	478.66	299.99	156.56	267.15
Selling, General & Administrative	23.23	20.23	18.12	15.69	14.61	12.91
Depreciation & Amortization	93.92	90.96	97.43	74.08	69.88	60.56
Total Operating Expenses	465.68	621.74	594.21	389.77	241.04	340.62
Operating Income	78.49	86.98	72.95	81.36	61.49	43.02
Interest Expense	-79.14	-78.97	-57.81	-39.68	-33.91	-31.04
Interest & Investment Income	-	-	-	-	-	19.84
Other Non-Operating Income	-3.16	14.74	-6.14	8.45	3.28	-0.87
EBT Excluding Unusual Items	-3.82	22.76	9	50.13	30.86	30.95
Gain (Loss) on Sale of Assets	21.31	21.31	0.74	53.47	18.94	6.39
Asset Writedown	-	-1.49	-0.1	-0.42	-21.28	-0.67
Other Unusual Items	6.1	-0.69	-0.65	-3.37	-3.81	-
Pretax Income	23.59	41.88	8.99	99.81	24.71	36.68
Income Tax Expense	-0.28	-0.61	1.33	-0.15	-0.74	-0.28
Earnings From Continuing Operations	23.86	42.49	7.66	99.95	25.46	36.96
Minority Interest in Earnings	-2.32	-6.85	0.62	-25.21	-3.56	-7.81
Net Income	21.54	35.65	8.29	74.75	21.89	29.15
Preferred Dividends & Other Adjustments	11.55	11.55	11.55	11.55	11.55	7.35
Net Income to Common	10	24.1	-3.26	63.2	10.34	21.8
Net Income Growth	140.45%	330.13%	-88.91%	241.44%	-24.90%	21.20%
Basic Shares Outstanding	77	71	68	68	61	57
Diluted Shares Outstanding	77	71	68	68	61	57
Shares Change (YoY)	14.80%	4.39%	0.17%	11.43%	5.79%	7.92%
EPS (Basic)	0.13	0.34	-0.05	0.94	0.17	0.38
EPS (Diluted)	0.13	0.34	-0.05	0.94	0.17	0.38
EPS Growth	-	-	-	448.33%	-55.15%	-6.46%
Dividend Per Share	0.690	0.820	0.775	0.720	0.640	0.440
Dividend Growth	-13.75%	5.81%	7.64%	12.50%	45.45%	-47.62%
Operating Margin	14.42%	12.27%	10.94%	17.27%	20.32%	11.21%
Profit Margin	1.84%	3.40%	-0.49%	13.41%	3.42%	5.68%
EBITDA	166.74	171.63	164.23	150.9	125.4	92.49
EBITDA Margin	30.64%	24.22%	24.62%	32.03%	41.45%	24.11%
D&A For Ebitda	88.26	84.66	91.28	69.53	63.91	49.47
EBIT	78.49	86.98	72.95	81.36	61.49	43.02
EBIT Margin	14.42%	12.27%	10.94%	17.27%	20.32%	11.21%
Funds From Operations (FFO)	78.53	99.85	90.72	106.65	85.35	-
FFO Per Share	0.79	1.08	1.02	1.21	1.05	-
Adjusted Funds From Operations (AFFO)	-	86.27	86.52	106.65	85.35	-
AFFO Per Share	-	0.93	0.97	1.21	1.05	-
Effective Tax Rate	-	-	14.78%	-	-	-
Revenue as Reported	546.16	708.47	667.16	471.13	302.53	383.63

Updated Aug 4, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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