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Equity Residential (EQR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Equity Residential (EQR - Free Report) reported revenue of $734.16 million, up 2.4% over the same period last year. EPS came in at $0.97, compared to $0.37 in the year-ago quarter.
The reported revenue represents no surprise over the Zacks Consensus Estimate of $734.14 million. With the consensus EPS estimate being $0.96, the EPS surprise was +1.04%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 96.4% compared to the 96.3% average estimate based on four analysts.
Apartment Units - Total: 79,738 compared to the 79,872 average estimate based on three analysts.
Change in Same Store Revenue Growth: 2.9% compared to the 3.1% average estimate based on two analysts.
Revenues- Rental income- Same store: $718.17 million versus $717.17 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
Net Earnings Per Share (Diluted): $0.47 compared to the $0.39 average estimate based on nine analysts.
Shares of Equity Residential have returned +2.1% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Equity Residential (EQR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Equity Residential (EQR - Free Report) reported revenue of $734.16 million, up 2.4% over the same period last year. EPS came in at $0.97, compared to $0.37 in the year-ago quarter.
The reported revenue represents no surprise over the Zacks Consensus Estimate of $734.14 million. With the consensus EPS estimate being $0.96, the EPS surprise was +1.04%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 96.4% compared to the 96.3% average estimate based on four analysts.
- Apartment Units - Total: 79,738 compared to the 79,872 average estimate based on three analysts.
- Change in Same Store Revenue Growth: 2.9% compared to the 3.1% average estimate based on two analysts.
- Revenues- Rental income- Same store: $718.17 million versus $717.17 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
- Net Earnings Per Share (Diluted): $0.47 compared to the $0.39 average estimate based on nine analysts.
View all Key Company Metrics for Equity Residential here>>>Shares of Equity Residential have returned +2.1% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.