Equity Residential Earnings: Everything You Must Know Now

Equity Residential (NYSE:EQR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Equity Residential Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 4.41% to $0.71 in the quarter versus EPS of $0.68 in the year-earlier quarter.

Revenue: Rose 19.78% to $635.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Equity Residential reported adjusted EPS income of $0.71 per share. By that measure, the company met the mean analyst estimate of $0.71. It beat the average revenue estimate of $606.61 million.

Quoting Management: “We are pleased that apartment fundamentals across our markets remain strong and that we will again produce results for the full year in line with our original guidance and well above historical trends,” said David J. Neithercut, Equity Residential’s President and CEO. “We are extremely proud of our property teams across the country for delivering such strong performance while simultaneously integrating 21,000 newly acquired apartment units into our portfolio.”

Key Stats (on next page)…

Revenue increased 24.41% from $510.48 million in the previous quarter. EPS increased 222.73% from $0.22 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.74 and has not changed. For the current year, the average estimate has moved down from a profit of $2.83 to a profit of $2.54 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)