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ADC · NYSE · REIT - Retail

Agree Realty (ADC)

Acquires, develops, and leases retail properties for omnichannel tenants across the United States.

$67.16

vs last close−0.17 (−0.25%)

In millions of USD, except per-share figures

In millions	Q3 FY23Sep 2023	Q4 FY23Dec 2023	Q1 FY24Mar 2024	Q2 FY24Jun 2024	Q3 FY24Sep 2024	Q4 FY24Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Revenue	137	144	149	153	154	161	169	176	183	190	201	205
Cost of revenue	16	18	18	18	18	20	20	22	22	24	25	164
Gross profit	121	126	131	135	136	140	149	154	161	166	176	41
	58	57	60	53	62	65	70	72	74	74	77	−58
	9	9	10	10	9	9	11	11	11	11	11	12
General & administrative	9	9	10	10	9	9	11	11	11	11	11	12
Other expenses	49	48	51	43	52	56	59	60	63	63	66	−70
Operating income	63	69	70	82	74	75	79	82	87	92	99	99
	−21	−22	−24	−26	−29	−29	−31	−32	−35	−36	0	−44
Interest expense	21	22	24	26	29	29	31	32	35	36	36	39
Other non-operating income	0	0	0	0	0	0	0	0	0	0	26	5
Income before tax	42	47	46	56	46	46	48	50	53	56	99	55
Income tax expense	1	1	1	1	1	1	1	0	0	0	−1	0
Net income from continuing operations	42	46	45	55	45	45	47	49	52	56	99	55
Discontinued operations	0	0	0	0	0	0	0	0	0	0	0	0
Other adjustments	0	0	0	0	0	0	0	0	0	0	−37	0
Net income	42	46	45	55	44	45	47	49	52	56	62	55
EPS, basic	$0.41	$0.44	$0.43	$0.53	$0.42	$0.42	$0.42	$0.44	$0.45	$0.47	$0.50	$0.44
EPS, diluted	$0.41	$0.44	$0.43	$0.52	$0.42	$0.41	$0.42	$0.44	$0.45	$0.47	$0.50	$0.44
Weighted average shares, basic	97	100	100	100	100	103	107	107	111	115	120	120
Weighted average shares, diluted	97	100	100	100	102	105	108	108	112	115	120	120
EBITDA	117	124	127	141	134	140	143	150	158	166	139	164
Depreciation & amortization	54	55	57	59	60	65	64	67	71	73	67	70
EBIT	63	69	71	82	75	76	79	82	88	93	73	94