Armada Hoffler Properties, Inc. (AHRT) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	174.2M	285.4M	274.5M	667.7M	454.8M
Cost of Revenue	125.4M	275.5M	268.2M	673.2M	448.2M
Gross Profit	48.8M	9.9M	6.3M	(5.5M)	6.7M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	7.0M	20.3M	20.2M	18.1M	—
General & Admin Expense	7.0M	20.3M	20.2M	18.1M	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	(27.0M)	(90.1M)	(100.9M)	(90.3M)	(66.4M)
Total Operating Expenses	(20.1M)	(69.8M)	(80.7M)	(72.2M)	(66.4M)
Cost and Expenses	105.3M	205.7M	187.5M	601.0M	381.8M
Operating Income (EBIT)	68.9M	79.7M	87.0M	66.7M	73.1M
Non-Operating
Interest Income	4.5M	15.6M	17.4M	15.1M	17.0M
Interest Expense	73.8M	83.8M	78.5M	53.6M	35.8M
Net Interest Income	(69.4M)	(68.2M)	(61.2M)	(38.5M)	(18.9M)
Other Non-Op Income/Expense	(76.3M)	(80.9M)	(59.1M)	(57.7M)	26.7M
Non-Operating Income (excl Interest)	2.5M	(2.9M)	(19.4M)	4.1M	(62.6M)
EBT (Pre-Tax Income)	(7.4M)	(1.2M)	27.9M	9.0M	99.8M
Income Tax Expense	377.0K	—	(614.0K)	1.3M	(145.0K)
Bottom Line
Net Income	(49.2M)	5.6M	35.6M	8.3M	74.7M
Earnings from Cont. Ops	(7.8M)	(1.2M)	27.9M	7.7M	100.0M
Earnings from Discont. Ops	—	5.1M	14.6M	—	—
Bottom Line Net Income	(52.1M)	5.6M	35.6M	8.3M	74.7M
Per Share
Basic EPS	($0.59)	$0.07	$0.30	$0.09	$0.72
Diluted EPS	($0.59)	$0.07	$0.30	$0.09	$0.72
Revenue Per Share	$2.02	$3.56	$3.44	$7.56	$5.15
Shares
Basic Shares Outstanding	86.3M	80.2M	79.7M	88.3M	88.3M
Diluted Shares Outstanding	98.0M	80.2M	79.7M	88.3M	88.3M
Profitability Metrics
EBITDA	149.2M	174.4M	197.7M	160.6M	210.4M
D&A	82.7M	91.7M	91.3M	98.0M	74.8M
EBIT	66.4M	82.6M	106.4M	62.6M	135.6M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026