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Equity Residential (EQR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2 分鐘文章

Equity Residential (EQR) reported $730.82 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 3.7%. EPS of $0.93 for the same period compares to $0.56 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $729.83 million, representing a surprise of +0.14%. The company delivered an EPS surprise of +2.20%, with the consensus EPS estimate being $0.91.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Equity Residential performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Physical Occupancy Rate: 96.3% versus 95.9% estimated by three analysts on average.

  • Apartment Units - Total: 79,688 versus 80,256 estimated by three analysts on average.

  • Change in Same Store Revenue Growth: 4.1% versus the two-analyst average estimate of 3%.

  • Revenues- Rental income- Same store: $716.67 million versus the two-analyst average estimate of $703.05 million. The reported number represents a year-over-year change of +5.1%.

  • Net Earnings Per Share (Diluted): $0.77 versus $0.32 estimated by seven analysts on average.

View all Key Company Metrics for Equity Residential here>>>

Shares of Equity Residential have returned +1.6% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research