EarningsQ2 2026 Earnings Report
MX:AMH Q2 2026 EPS Results
Actual EPS$5.64
Consensus EPS$3.27
Beat/MissBeat by +$2.36
One Year Ago EPS$5.09
MX:AMH Q2 2026 Revenue Results
Actual Revenue$8.61B
Expected Revenue$8.48B
Beat/MissBeat by +$125.59M
YoY Revenue Growth+2.80%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:AMH Upcoming Earnings
American Homes's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AMH Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized broad operational execution: strong leasing momentum, tight expense control, successful pre-leasing and development lease-ups, ahead-of-plan dispositions, and a modest upward guidance revision for Core FFO per share. Offsetting items include pockets of market weakness (Atlanta, Phoenix, Tampa), an expected moderation of revenue growth in H2 versus H1, measured development pacing despite capacity to accelerate, and leverage/liquidity considerations that rely in part on continued disposition execution. Overall the positives — improved FFO, occupancy/leasing strength, disciplined capital allocation, and ahead-of-plan disposition proceeds — materially outweigh the manageable challenges discussed.Company Guidance
FFO and Earnings Growth
Generated net income attributable to common shareholders of $113.6M, or $0.31 per diluted share. Produced $0.49 of Core FFO (up 5.2% YoY) and $0.45 of Adjusted FFO (up 8.3% YoY).
Raised Core FFO Guidance
Raised the midpoint of full-year Core FFO per share guidance by $0.03 to $1.95, representing year-over-year growth of 4.3% and moving the midpoint to the high end of the prior range.
Strong Occupancy and Leasing Momentum
Same-home average occupancy ~96% in Q2 and 96.1% in July. New, renewal, and blended spreads for Q2 were 1.4%, 3.2%, and 2.7% respectively (July: 1.6%, 3.3%, 2.8%), driving core revenue growth of 2.3%.
Expense Control and Margin Expansion
Held year-over-year controllable expense growth to less than 1% in the quarter. Lowered midpoint of full-year Core expense growth by 75 basis points to 2%, and increased midpoint of full-year Same-Home Core NOI growth by 40 basis points to 2.4%, with modest NOI margin expansion expected vs 2025.
Development Execution and Pre-Leasing Success
Delivered 651 homes in the quarter (542 to wholly owned portfolio, ~$220M investment). Strong pre-leasing: in H1 the company executed more initial leases than actual homes delivered, and ~40% of planned back-half deliveries (~700 homes) were already rented. Recent closed deals target yields in the mid-to-high single digits (some in the 'sixes').
Disposition Program Ahead of Plan
Sold over 1,300 homes in the first half of the year at cap rates in the ~4% area and generated approximately $380M of net proceeds year-to-date, tracking toward the upper half of the prior $400M-$600M full-year disposition range.
Share Repurchases and Capital Allocation
Repurchased 4.1M common shares for $123M in the quarter at an average price of $29.88 (total repurchases over the past nine months >3% of shares at ~ $31 average). Approximately $377M of remaining capacity on current repurchase authorization.
Balance Sheet and Leverage Positioning
Net debt (including preferred shares) to Adjusted EBITDA ended the quarter at 5.2x. Cash on hand approximately $84M with $390M drawn on a $1.25B revolver; management said current leverage is below its long-term target and dispositions reduce incremental debt needs.
MX:AMH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed