The call reflects a mixed sentiment with strong financial performance and strategic growth initiatives being offset by challenges in development timelines and regional market conditions. While the company has managed to exceed initial financial guidance and maintain strong occupancy in established regions, it faces notable challenges in certain markets and operational areas, particularly in dealing with increased bad debt and supply issues.

Company Guidance -

Q3 2025

During AvalonBay Communities' Second Quarter 2025 Earnings Conference Call, the company provided updated guidance for the year. The second quarter and first half results exceeded initial guidance, primarily driven by better-than-expected revenue growth due to higher occupancy and rental revenue. Operating expenses were tightly managed, resulting in same-store NOI outperformance. The company revised its operating expense growth forecast to 3.1%, a 100 basis point improvement, leading to a projected NOI growth of 2.7% for 2025. Core FFO per share guidance is maintained at $11.39, reflecting a 3.5% year-over-year growth expectation. The company also increased its development starts target to $1.7 billion for the year, citing lower new supply levels and strategic capability in high-quality projects. AvalonBay's balance sheet remains robust with $1.3 billion of capital raised at a 5.0% cost. The company's $3 billion in development projects are expected to generate significant external growth, with 3,000 additional homes anticipated for occupancy by 2026, contributing to core FFO growth above same-store NOI growth.

Exceeding Initial Guidance

The second quarter and first half of 2025 results exceeded initial guidance due to better-than-expected revenue growth and tight management of operating expenses. Operating expense growth is now forecasted at 3.1%, 100 basis points better than original guidance.

Development and Investment Success

AvalonBay's $3 billion development projects are expected to generate differentiated external growth, with development underway trending above pro forma stabilized yields. The company is on track to start $1.7 billion in new development projects for the full year, up from $1.6 billion.

Strong Balance Sheet

Raised $1.3 billion of capital year-to-date at an initial cost of 5.0%, with yields over 6% on new development projects, indicating an attractive cost of capital.

Occupancy and Revenue Growth

Core FFO growth of 3.3% year-to-date, positioning AvalonBay towards the top of the sector. Total market occupancy at 94.8% in established regions, with significant growth expected in Seattle and New York regions due to healthy demand and moderating supply.

AvalonBay (AVB) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

AVB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	1.41 / -	2.61	―	―	―
Jul 30, 2025	2025 (Q2)	1.20 / 1.88	1.78	5.62% (+0.10)
Apr 30, 2025	2025 (Q1)	1.33 / 1.66	1.22	36.07% (+0.44)
Feb 05, 2025	2024 (Q4)	1.30 / 1.98	1.7	16.47% (+0.28)
Nov 04, 2024	2024 (Q3)	1.34 / 2.61	1.21	115.70% (+1.40)
Jul 31, 2024	2024 (Q2)	1.27 / 1.78	2.59	-31.27% (-0.81)
Apr 25, 2024	2024 (Q1)	1.22 / 1.22	1.05	16.19% (+0.17)
Jan 31, 2024	2023 (Q4)	1.30 / 1.70	1.72	-1.16% (-0.02)
Oct 25, 2023	2023 (Q3)	1.26 / 1.21	3.53	-65.72% (-2.32)
Jul 31, 2023	2023 (Q2)	1.14 / 2.59	0.99	161.62% (+1.60)

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

AVB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$196.31	$186.28	-5.11%
Apr 30, 2025	$208.18	$207.21	-0.47%
Feb 05, 2025	$220.54	$218.08	-1.12%
Nov 04, 2024	$213.19	$220.88	+3.61%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does AvalonBay (AVB) report earnings?

AvalonBay (AVB) is schdueled to report earning on Oct 22, 2025, After Close (Confirmed).

What is AvalonBay (AVB) earnings time?

AvalonBay (AVB) earnings time is at Oct 22, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is AVB EPS forecast?

AVB EPS forecast for the fiscal quarter 2025 (Q3) is 1.41.

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