I can see why they removed revaluations from earnings statements (revaluations can be fickle over short to medium time frames, match peer reporting standards). However, revaluations are a significant portion of earnings for companies with real estate holdings, and represent the inflation component of retained assets. To take that out of reported earnings gives an understated view of performance for those looking at earnings figures without also considering the increase in asset values separately.
Personally, I think it's better to include revaluations and deal with the (accurate) volatility, than to not report and lose earnings visibility in return for a clearer view of operational income.
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