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Compared to Estimates, Equity Residential (EQR) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2024, Equity Residential (EQR - Free Report) reported revenue of $748.35 million, up 3.4% over the same period last year. EPS came in at $0.98, compared to $0.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $742.89 million, representing a surprise of +0.73%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.98.
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: 96.1% versus the four-analyst average estimate of 96.2%.
Apartment Units - Total: 83,809 versus the three-analyst average estimate of 80,417.
Change in Same Store Revenue Growth: 2.5% compared to the 2.7% average estimate based on two analysts.
Revenues- Rental income- Same store: $722.31 million versus the two-analyst average estimate of $724.47 million. The reported number represents a year-over-year change of +2.6%.
Net Earnings Per Share (Diluted): $0.38 compared to the $0.41 average estimate based on nine analysts.
Shares of Equity Residential have returned +0.5% over the past month versus the Zacks S&P 500 composite's +1.8% 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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Compared to Estimates, Equity Residential (EQR) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, Equity Residential (EQR - Free Report) reported revenue of $748.35 million, up 3.4% over the same period last year. EPS came in at $0.98, compared to $0.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $742.89 million, representing a surprise of +0.73%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.98.
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: 96.1% versus the four-analyst average estimate of 96.2%.
- Apartment Units - Total: 83,809 versus the three-analyst average estimate of 80,417.
- Change in Same Store Revenue Growth: 2.5% compared to the 2.7% average estimate based on two analysts.
- Revenues- Rental income- Same store: $722.31 million versus the two-analyst average estimate of $724.47 million. The reported number represents a year-over-year change of +2.6%.
- Net Earnings Per Share (Diluted): $0.38 compared to the $0.41 average estimate based on nine analysts.
View all Key Company Metrics for Equity Residential here>>>Shares of Equity Residential have returned +0.5% over the past month versus the Zacks S&P 500 composite's +1.8% 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.