Revenue: As of FY2026 Q2, the actual value is USD 470.1 M.

EPS: As of FY2026 Q2, the actual value is USD 0.31, beating the estimate of USD 0.1504.

EBIT: As of FY2026 Q2, the actual value is USD 182.45 M.

Second Quarter 2026 Financial Highlights

• Net Income: Net income attributable to common shareholders was $113.6 million for the second quarter of 2026, an increase from $105.6 million in the prior year period.
• Core Funds from Operations (Core FFO): Total Core FFO was $202.8 million in Q2 2026, up from $198.0 million in Q2 2025.
• Adjusted Funds from Operations (Adjusted FFO): Total Adjusted FFO was $186.0 million in Q2 2026, up from $176.4 million in Q2 2025.
• Core Net Operating Income (Core NOI): Core NOI from the total portfolio increased by 4.3% to $275.4 million for the second quarter of 2026, compared to $264.1 million for the second quarter of 2025. Core NOI from Same-Home properties increased by 2.7% year-over-year to $245.8 million for the second quarter of 2026, compared to $239.4 million for the second quarter of 2025.
• Core NOI Margin: The Core NOI margin was 66.2% for the second quarter of 2026, up from 65.2% for the second quarter of 2025.
• Operational Costs: Core property operating expenses from Same-Home properties increased by 1.7% to $125.5 million for the second quarter of 2026, compared to $123.4 million for the second quarter of 2025. Property operating expenses were $161.943 million in Q2 2026, compared to $160.089 million in Q2 2025. Property management expenses were $33.844 million in Q2 2026, compared to $34.412 million in Q2 2025. General and administrative expense was $21.659 million in Q2 2026, compared to $20.008 million in Q2 2025. Interest expense was $49.527 million in Q2 2026, compared to $46.303 million in Q2 2025.
• Other Financials: Acquisition, disposition and other transaction costs were $3.195 million in Q2 2026, compared to $2.655 million in Q2 2025. Depreciation and amortization was $127.606 million in Q2 2026, compared to $126.939 million in Q2 2025. Gain on sale and impairment of single-family properties and other, net was $59.432 million in Q2 2026, compared to $51.908 million in Q2 2025. Noncontrolling interest was $15.807 million in Q2 2026, compared to $14.585 million in Q2 2025. Dividends on preferred shares remained flat at $3.486 million in both Q2 2026 and Q2 2025.
• Cash Flow: Retained Cash Flow was $50.1 million for the second quarter of 2026.

Year-to-Date 2026 Financial Highlights

• Net Income: Net income attributable to common shareholders totaled $241.4 million for the six-month period ended June 30, 2026, compared to $215.5 million for the same period in 2025.
• Core NOI: Core NOI from the total portfolio increased by 4.5% to $546.5 million for the six-month period ended June 30, 2026, compared to $523.0 million for the same period in 2025. Core NOI from Same-Home properties increased by 3.3% to $490.9 million for the six-month period ended June 30, 2026, compared to $475.4 million for the same period in 2025.
• Core FFO: Core FFO attributable to common share and unit holders was $402.9 million for the six-month period ended June 30, 2026, compared to $392.7 million for the same period in 2025.
• Adjusted FFO: Adjusted FFO attributable to common share and unit holders was $373.4 million for the six-month period ended June 30, 2026, compared to $353.0 million for the same period in 2025.

Operational Metrics

• Portfolio Growth: As of June 30, 2026, American Homes 4 Rent’s total single-family properties numbered 60,482 homes, an increase of 282 homes from March 31, 2026. This includes 651 newly constructed homes delivered from the AMH Development Program to its wholly-owned portfolio and unconsolidated joint ventures in Q2 2026.
• Occupancy: The Same-Home Average Occupied Days Percentage was 96.0% in the second quarter of 2026, compared to 96.4% in the second quarter of 2025.
• Leasing Performance: American Homes 4 Rent achieved 2.7% blended rate growth in Q2 2026, driven by lease spreads of 3.2% on renewals and 1.4% on new leases.
• Share Repurchase: American Homes 4 Rent repurchased and retired 4.1 million Class A common shares at a weighted-average price of $29.88 per share, totaling $123.0 million, in the second quarter of 2026.
• Debt: As of June 30, 2026, total outstanding debt was $5.2 billion with a weighted-average interest rate of 4.5% and a weighted-average term to maturity of 7.6 years. Cash and cash equivalents stood at $83.7 million.

2026 Guidance

American Homes 4 Rent raised its full-year 2026 Core FFO attributable to common share and unit holders guidance midpoint by $0.03 per share and unit to $1.95, representing an anticipated full-year growth of 4.3% over the prior year. The current guidance range for Core FFO per share and unit is $1.93 - $1.97, with expected growth between 3.2% and 5.3%. Same-Home Core revenues are projected to grow between 1.50% and 3.00%, while Same-Home Core NOI growth is anticipated to be between 1.40% and 3.40% for the full year 2026.