How did VTMX's Q4 2023 earnings surprise investors?

Vesta Real Estate Corporation SAB de CV (VTMX) reported a quarterly adjusted loss of 80 cents per share for the quarter ended December 31, 2023, which was lower than the same quarter last year when the company reported EPS of $1.60. This negative surprise may have been attributed to several factors: 1. **Revenue Increase**: Despite the earnings shortfall, revenue rose by 16.5% to $65.20 million compared to the same quarter last year. This increase was likely due to new leases and inflationary rental adjustments. 2. **Analyst Expectations**: The mean expectation of four analysts for the quarter was for earnings of 40 cents per share. Vesta's actual earnings of 80 cents per share in the previous year may have led to higher expectations among analysts, making the current year's earnings seem more disappointing. 3. **Market Conditions**: The company's shares had fallen by 2.7% this quarter. This decline could indicate market disappointment or broader market conditions that affected the company's performance. Overall, VTMX's Q4 2023 earnings fell short of investor expectations due to the adjusted loss, although revenue showed a positive trend.