AvalonBay Communities (AVB) Revenue — Quarter Ended Mar 31, 2023
Revenue for this quarter decreased sharply compared to the immediately preceding quarter. Despite the sequential decline, revenue remained higher than the same quarter one year earlier.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for this quarter decreased sharply compared to the immediately preceding quarter. Despite the sequential decline, revenue remained higher than the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.1M
Revenue reported for this quarter.
Quarter-over-quarter
-67.5%
Change from the immediately preceding quarter.
Year-over-year
+41.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.6M
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $904K | +11.9% |
| Sep 30, 2022 | $1.4M | +101.3% |
| Dec 31, 2022 | $3.3M | +365.8% |
| Mar 31, 2023 | $1.1M | +41.8% |
Revenue performance
The reported revenue moved lower from the prior quarter, reversing the strong gains seen in recent periods.
Quarterly comparison
Compared to the immediately preceding quarter, revenue fell significantly. When stacked against the same quarter one year earlier, revenue showed a notable increase.
What to watch
The filing context mentions several operating factors, including rental rates, occupancy levels, and uncollectible lease revenue, which may influence future revenue direction.