H&R Real Estate Investment Trust
TSX:HR.UN
Income Statement
Earnings Waterfall
H&R Real Estate Investment Trust
Revenue
|
847.1m
CAD
|
Cost of Revenue
|
-300.5m
CAD
|
Gross Profit
|
546.6m
CAD
|
Operating Expenses
|
-24.4m
CAD
|
Operating Income
|
522.2m
CAD
|
Other Expenses
|
-460.5m
CAD
|
Net Income
|
61.7m
CAD
|
Income Statement
H&R Real Estate Investment Trust
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
1 137
N/A
|
1 226
+8%
|
1 237
+1%
|
1 234
0%
|
1 228
0%
|
1 215
-1%
|
1 206
-1%
|
1 201
0%
|
1 188
-1%
|
1 192
+0%
|
1 187
0%
|
1 187
+0%
|
1 196
+1%
|
1 187
-1%
|
1 184
0%
|
1 176
-1%
|
1 169
-1%
|
1 173
+0%
|
1 181
+1%
|
1 177
0%
|
1 177
0%
|
1 177
N/A
|
1 169
-1%
|
1 165
0%
|
1 150
-1%
|
1 131
-2%
|
1 113
-2%
|
1 103
-1%
|
1 099
0%
|
1 086
-1%
|
1 080
-1%
|
1 077
0%
|
1 065
-1%
|
1 001
-6%
|
939
-6%
|
884
-6%
|
835
-6%
|
851
+2%
|
861
+1%
|
858
0%
|
847
-1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(401)
|
(440)
|
(441)
|
(434)
|
(425)
|
(423)
|
(422)
|
(421)
|
(415)
|
(421)
|
(420)
|
(422)
|
(431)
|
(434)
|
(436)
|
(432)
|
(427)
|
(432)
|
(430)
|
(436)
|
(443)
|
(443)
|
(450)
|
(446)
|
(439)
|
(433)
|
(439)
|
(438)
|
(435)
|
(429)
|
(411)
|
(402)
|
(404)
|
(380)
|
(348)
|
(327)
|
(300)
|
(311)
|
(315)
|
(311)
|
(301)
|
|
Gross Profit |
736
N/A
|
787
+7%
|
796
+1%
|
800
+0%
|
803
+0%
|
792
-1%
|
784
-1%
|
780
-1%
|
774
-1%
|
771
0%
|
767
-1%
|
765
0%
|
765
+0%
|
752
-2%
|
748
-1%
|
745
0%
|
741
0%
|
741
0%
|
750
+1%
|
741
-1%
|
734
-1%
|
733
0%
|
719
-2%
|
718
0%
|
711
-1%
|
698
-2%
|
674
-3%
|
665
-1%
|
664
0%
|
657
-1%
|
669
+2%
|
675
+1%
|
662
-2%
|
620
-6%
|
590
-5%
|
557
-6%
|
535
-4%
|
540
+1%
|
546
+1%
|
547
+0%
|
547
0%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(217)
|
(216)
|
(214)
|
(11)
|
(11)
|
(7)
|
(5)
|
(4)
|
(9)
|
(22)
|
(32)
|
(39)
|
(43)
|
(34)
|
(24)
|
(21)
|
(18)
|
(11)
|
(13)
|
(14)
|
(18)
|
(40)
|
(40)
|
(44)
|
(27)
|
9
|
6
|
10
|
(9)
|
(25)
|
(29)
|
(29)
|
(23)
|
(25)
|
(23)
|
(16)
|
(22)
|
(23)
|
(23)
|
(28)
|
(24)
|
|
Selling, General & Administrative |
(210)
|
(210)
|
(211)
|
(11)
|
(11)
|
(14)
|
(12)
|
(11)
|
(9)
|
(22)
|
(32)
|
(39)
|
(43)
|
(33)
|
(24)
|
(21)
|
(18)
|
(11)
|
(12)
|
(14)
|
(18)
|
(35)
|
(31)
|
(31)
|
(10)
|
25
|
23
|
26
|
10
|
(7)
|
(14)
|
(13)
|
(8)
|
(11)
|
(9)
|
(7)
|
(22)
|
(23)
|
(23)
|
(28)
|
(24)
|
|
Other Operating Expenses |
(7)
|
(5)
|
(3)
|
0
|
0
|
6
|
6
|
7
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(5)
|
(9)
|
(14)
|
(17)
|
(17)
|
(17)
|
(17)
|
(19)
|
(18)
|
(15)
|
(16)
|
(15)
|
(14)
|
(14)
|
(9)
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
519
N/A
|
571
+10%
|
582
+2%
|
788
+35%
|
792
+0%
|
785
-1%
|
778
-1%
|
775
0%
|
764
-1%
|
749
-2%
|
735
-2%
|
726
-1%
|
721
-1%
|
719
0%
|
724
+1%
|
724
0%
|
723
0%
|
730
+1%
|
738
+1%
|
727
-1%
|
716
-2%
|
694
-3%
|
679
-2%
|
674
-1%
|
684
+1%
|
707
+3%
|
680
-4%
|
675
-1%
|
655
-3%
|
632
-4%
|
640
+1%
|
646
+1%
|
639
-1%
|
595
-7%
|
568
-5%
|
541
-5%
|
513
-5%
|
517
+1%
|
523
+1%
|
519
-1%
|
522
+1%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(143)
|
(196)
|
(353)
|
(310)
|
(290)
|
(312)
|
(223)
|
(184)
|
(359)
|
(401)
|
(329)
|
(339)
|
(116)
|
(37)
|
(59)
|
(141)
|
(61)
|
(124)
|
(195)
|
(146)
|
(295)
|
(334)
|
(288)
|
(320)
|
(250)
|
(1 320)
|
(1 391)
|
(1 238)
|
(1 297)
|
(79)
|
(27)
|
(151)
|
(3)
|
998
|
1 058
|
835
|
512
|
(479)
|
(705)
|
(516)
|
(404)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(6)
|
(6)
|
(6)
|
(5)
|
(5)
|
(4)
|
(5)
|
(5)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
(22)
|
(28)
|
(31)
|
(32)
|
(33)
|
(32)
|
(32)
|
(31)
|
(30)
|
(31)
|
(13)
|
(15)
|
(15)
|
(16)
|
(34)
|
(33)
|
(33)
|
(34)
|
(36)
|
(40)
|
(43)
|
(46)
|
(50)
|
(54)
|
(58)
|
(56)
|
(50)
|
(40)
|
(30)
|
(24)
|
(20)
|
(19)
|
(27)
|
(42)
|
(56)
|
(73)
|
(79)
|
(80)
|
(84)
|
(85)
|
(87)
|
|
Pre-Tax Income |
354
N/A
|
348
-2%
|
199
-43%
|
447
+125%
|
469
+5%
|
440
-6%
|
524
+19%
|
561
+7%
|
375
-33%
|
318
-15%
|
393
+24%
|
372
-5%
|
590
+59%
|
665
+13%
|
631
-5%
|
550
-13%
|
630
+15%
|
572
-9%
|
507
-11%
|
542
+7%
|
378
-30%
|
314
-17%
|
341
+9%
|
300
-12%
|
376
+25%
|
(671)
N/A
|
(765)
-14%
|
(610)
+20%
|
(678)
-11%
|
524
N/A
|
588
+12%
|
472
-20%
|
603
+28%
|
1 547
+156%
|
1 570
+2%
|
1 303
-17%
|
946
-27%
|
(42)
N/A
|
(265)
-526%
|
(81)
+69%
|
31
N/A
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(30)
|
(42)
|
(45)
|
(44)
|
(45)
|
(35)
|
(36)
|
(43)
|
(35)
|
(42)
|
(132)
|
(163)
|
(202)
|
(196)
|
(112)
|
(67)
|
(50)
|
(40)
|
(19)
|
(28)
|
(40)
|
(41)
|
(67)
|
(62)
|
(35)
|
(6)
|
14
|
37
|
54
|
31
|
26
|
29
|
(6)
|
(138)
|
(144)
|
(133)
|
(101)
|
12
|
63
|
38
|
31
|
|
Income from Continuing Operations |
325
|
306
|
154
|
402
|
425
|
406
|
488
|
517
|
340
|
276
|
261
|
209
|
389
|
469
|
518
|
483
|
580
|
532
|
487
|
514
|
338
|
273
|
274
|
238
|
340
|
(678)
|
(751)
|
(573)
|
(625)
|
555
|
614
|
501
|
598
|
1 408
|
1 426
|
1 169
|
845
|
(30)
|
(202)
|
(43)
|
62
|
|
Net Income (Common) |
325
N/A
|
306
-6%
|
154
-50%
|
402
+162%
|
425
+6%
|
406
-4%
|
488
+20%
|
517
+6%
|
340
-34%
|
276
-19%
|
261
-6%
|
209
-20%
|
389
+86%
|
469
+21%
|
518
+10%
|
483
-7%
|
668
+38%
|
620
-7%
|
575
-7%
|
602
+5%
|
338
-44%
|
273
-19%
|
274
+1%
|
238
-13%
|
340
+43%
|
(678)
N/A
|
(751)
-11%
|
(573)
+24%
|
(625)
-9%
|
555
N/A
|
614
+11%
|
501
-18%
|
598
+19%
|
1 408
+136%
|
1 426
+1%
|
1 169
-18%
|
845
-28%
|
(30)
N/A
|
(202)
-567%
|
(43)
+79%
|
62
N/A
|
|
EPS (Diluted) |
1.21
N/A
|
1.07
-12%
|
0.57
-47%
|
1.48
+160%
|
1.58
+7%
|
1.4
-11%
|
1.79
+28%
|
1.88
+5%
|
1.24
-34%
|
0.94
-24%
|
0.93
-1%
|
0.74
-20%
|
1.39
+88%
|
1.67
+20%
|
1.81
+8%
|
1.7
-6%
|
2.33
+37%
|
2.16
-7%
|
2.02
-6%
|
2.12
+5%
|
1.19
-44%
|
0.96
-19%
|
0.97
+1%
|
0.84
-13%
|
1.19
+42%
|
-2.38
N/A
|
-2.64
-11%
|
-2.01
+24%
|
-2.2
-9%
|
1.95
N/A
|
2.15
+10%
|
1.75
-19%
|
2.08
+19%
|
4.95
+138%
|
5.2
+5%
|
4.38
-16%
|
3.1
-29%
|
-0.13
N/A
|
-0.76
-485%
|
-0.16
+79%
|
0.23
N/A
|