adc: the income statement

MyFinsight

AGREE REALTY CORP (ADC)

For the quarter ending 2025-06-30, ADC made $175,527K in revenue. $47,339K in net income. Net profit margin of 26.97%.

Unit: Thousand (K) dollars (except for numbers of shares and EPS)

	2025-06-30	2025-03-31	2024-09-30	2024-06-30
Total revenues	175,527	169,160	154,332	152,575
Gain on sale of assets, net	1,510	772	1,850	7,156
Impairment, long-lived asset, held-for-use	-	-	2,694	-
Real estate taxes	12,833	11,513	11,935	10,721
Property operating expenses	8,416	8,381	6,015	6,487
Land lease expense	550	485	421	415
Provision for impairment	2,961	4,331	-	-
General and administrative	11,332	10,771	9,114	9,707
Depreciation and amortization	58,939	55,755	51,504	50,454
Total operating expenses	95,031	91,236	81,683	77,784
The amount of net gain (loss) on involuntary conversion of assets	-	-	-56	20
Income from operations	82,006	78,696	74,443	81,967
Interest expense, net	32,274	30,764	28,942	26,416
Income and other tax expense	425	825	1,077	1,004
Other income	46	41	104	366
Net income	49,353	47,148	44,528	54,913
Less net income attributable to non-controlling interest	155	152	153	189
Net income attributable to agree realty corporation	49,198	46,996	44,375	54,724
Less series a preferred stock dividends	1,859	1,859	1,859	-
Net income attributable to common stockholders	47,339	45,137	42,516	54,724

Earnings per share, basic	0.43	0.42	0.42	0.53
Earnings per share, diluted	0.43	0.42	0.42	0.52
Weighted average number of shares outstanding, basic	109,758,046	107,048,557	100,383,207	100,349,943
Weighted average number of shares outstanding, diluted	110,377,221	107,547,193	101,715,311	100,454,703

Unit: Thousand (K) dollars (except for numbers of shares and EPS)