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Equity Residential (EQR) Reports Q4 Earnings: What Key Metrics Have to Say
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For the quarter ended December 2023, Equity Residential (EQR - Free Report) reported revenue of $727.5 million, up 4% over the same period last year. EPS came in at $1.00, compared to $0.42 in the year-ago quarter.
The reported revenue represents a surprise of -0.01% over the Zacks Consensus Estimate of $727.55 million. With the consensus EPS estimate being $1.00, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 95.8% versus the three-analyst average estimate of 95.9%.
Apartment Units - Total: 80,191 compared to the 80,662 average estimate based on three analysts.
Change in Same Store Revenue Growth: 3.9% versus the two-analyst average estimate of 3.8%.
Revenues- Rental income- Same store: $711.76 million versus the two-analyst average estimate of $675.51 million. The reported number represents a year-over-year change of +6.6%.
Net Earnings Per Share (Diluted): $0.82 versus $0.47 estimated by eight analysts on average.
Shares of Equity Residential have returned -2.8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Equity Residential (EQR) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Equity Residential (EQR - Free Report) reported revenue of $727.5 million, up 4% over the same period last year. EPS came in at $1.00, compared to $0.42 in the year-ago quarter.
The reported revenue represents a surprise of -0.01% over the Zacks Consensus Estimate of $727.55 million. With the consensus EPS estimate being $1.00, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 95.8% versus the three-analyst average estimate of 95.9%.
- Apartment Units - Total: 80,191 compared to the 80,662 average estimate based on three analysts.
- Change in Same Store Revenue Growth: 3.9% versus the two-analyst average estimate of 3.8%.
- Revenues- Rental income- Same store: $711.76 million versus the two-analyst average estimate of $675.51 million. The reported number represents a year-over-year change of +6.6%.
- Net Earnings Per Share (Diluted): $0.82 versus $0.47 estimated by eight analysts on average.
View all Key Company Metrics for Equity Residential here>>>Shares of Equity Residential have returned -2.8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.