Mixed quarter with modest revenue growth from acquisitions and management fees, but profitability declined due to higher expenses, interest costs, and absence of prior-year gains on real estate sales.
Key takeaways
Revenue was $856.0M (4.4%)
Gross Profit was $617.7M (3.6%)
Operating Income was $367.6M (-5.4%)
Net Income was $241.0M (-11.0%)
Full analysis
Acquisition-Driven Revenue Offset by Expense Pressures
Profitability Squeeze from Operations and Financing