What is the implied earnings per share growth compared to prior quarters and analyst expectations?
Answer
The press release you quoted tells us the following key figures for Innovative Industrial Properties (IIPR) in the second quarter of 2025:
| Metric | Q2 2025 |
|---|---|
| Total revenue | $62.9 million |
| Net income (attributable to common stockholders) | $25.1 million |
| Earnings per share (EPS) | $0.86 per share |
To determine the implied earnings‑per‑share growth—i.e., how this $0.86 EPS compares to:
- Prior quarters (e.g., Q1 2025, Q2 2024, etc.)
- What analysts were expecting for Q2 2025
we need two additional pieces of information that are not provided in the release:
- Historical EPS data for the quarter(s) you want to use as the baseline (e.g., Q1 2025 EPS, Q2 2024 EPS, etc.).
- Consensus analyst forecasts for Q2 2025 EPS (or for the same quarter in the prior year) that were published before the company’s results were released.
How the growth would be calculated
If the missing data were available, the standard way to express EPS growth is:
[
\text{EPS growth (\%)} = \left(\frac{\text{Current EPS} - \text{Prior EPS}}{\text{Prior EPS}}\right) \times 100
]
Similarly, to compare the result to analyst expectations:
[
\text{Surprise (\%)} = \left(\frac{\text{Actual EPS} - \text{Consensus Forecast}}{\text{Consensus Forecast}}\right) \times 100
]
What we can infer (and what we still can’t)
- No prior‑quarter EPS is disclosed in the release, so we cannot compute a quarter‑over‑quarter growth rate.
- No analyst consensus estimate is mentioned, so we cannot assess whether the $0.86 EPS was above, below, or in line with market expectations.
What you would need to answer the question definitively
| Required data | Where to obtain it | How it would be used |
|---|---|---|
| EPS for the previous quarter (e.g., Q1 2025) | IIPR’s prior earnings releases, SEC Form 10‑Q filings, or a financial data platform (Bloomberg, FactSet, Yahoo Finance, etc.) | Plug into the growth formula above to get quarter‑over‑quarter EPS growth. |
| EPS for the same quarter in the prior year (Q2 2024) | Same sources as above | Plug into the growth formula to get year‑over‑year EPS growth. |
| Consensus analyst EPS forecast for Q2 2025 | Brokerage research reports, Bloomberg/FactSet consensus estimates, Thomson Reuters I/B/E/S, or the “Earnings Outlook” section on the company’s investor‑relations site | Plug into the “Surprise” formula to see how the result compares to expectations. |
Example (illustrative only)
If, for illustration, the company’s Q1 2025 EPS had been $0.78 and analysts had forecast $0.82 for Q2 2025, the calculations would look like this:
| Calculation | Result |
|---|---|
| Quarter‑over‑quarter EPS growth | (\frac{0.86 - 0.78}{0.78} \times 100 = 10.3\%) |
| Year‑over‑year EPS growth (assuming Q2 2024 EPS was $0.70) | (\frac{0.86 - 0.70}{0.70} \times 100 = 22.9\%) |
| Surprise vs. analyst forecast | (\frac{0.86 - 0.82}{0.82} \times 100 = 4.9\%) |
Again, the numbers above are purely hypothetical; you would need the actual historical EPS and consensus forecast to compute the real growth rates.
Bottom line
Based solely on the information you provided, we cannot determine the implied EPS growth compared to prior quarters or analyst expectations. To answer the question, you’ll need to retrieve:
- The EPS figures for the relevant prior quarter(s) (or the same quarter in the previous year).
- The consensus analyst EPS estimate for Q2 2025 that was published before the results.
Once you have those data points, you can apply the simple percentage‑change formulas shown above to obtain the growth rates and the “earnings surprise” relative to analysts. If you can locate the missing figures, feel free to share them and I can walk you through the exact calculations.