NYSE$EQR

Equity Residential · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported results for the quarter and provided an update on activities related to the COVID-19 pandemic and preliminary April 2020 operating statistics and withdrew full year 2020 earnings guidance.

Equity Residential reported its Q1 2020 results, highlighting its efforts to support residents, employees, and communities during the COVID-19 pandemic. The company withdrew its full-year 2020 earnings guidance due to the uncertainty caused by the pandemic.

  • Instituted programs to support hard-working colleagues and assist residents and communities.
  • Utilizing technology to allow property teams to interact remotely with current and prospective residents.
  • Offering resident renewals with no rent increase and providing flexible lease renewal options.
  • Creating payment plans, waiving late fees and halting evictions for residents who can document that they have been adversely financially impacted by the COVID-19 pandemic.

Headline financials

Total Revenue

$682M

Previous: $662M+3.0%
EPS (adj)

$0.87

Previous: $0.82+6.1%
Physical Occupancy

96.5%

Previous: 96.3%+0.2%
New Lease Change

-0.8%

Previous: -0.8%+0.0%
Capital Expenditures

-$349M

Previous: -$338M-3.3%
Free Cash Flow

-$40.9M

Previous: -$234M+82.5%
Net Income

$309M

Previous: $105M+195.2%
Operating Income

$422M

Previous: $210M+101.0%
Gross Profit

$567M

Previous: $547M+3.5%
Cash & Equivalents

$82.3M

Previous: $29.4M+180.1%
Total Assets

$20.9B

Previous: $20.8B+0.7%
Stock-Based Comp

$7.84M

Previous: $9.81M-20.0%

Revenue & EPS history

Equity Residential · Revenue · Quarterly

$682M

Q1 2020+3%vs Q1 2019
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

Due to the inherent uncertainty surrounding the social and economic disruption resulting from the COVID-19 pandemic, the Company believes it is appropriate to withdraw its full-year 2020 guidance and is also suspending issuing guidance in future periods until there is greater certainty surrounding the impact of the ongoing pandemic.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-0.1%

Avg return

Earnings day

+0.2%

Avg return

5 days after

+1.0%

Avg return

30 days after

47%

34 / 72 earnings

Positive

+8.8%

Q2 2008

Best reaction

-9.2%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.0%+0.1%+0.5%
Q4 2025+3.4%+4.7%+1.5%
Q3 2025-4.2%-3.9%+0.5%
Q1 2025+1.0%+1.9%+0.9%
Q4 2024+0.4%+1.4%+2.2%
Q3 2024-5.2%-5.4%+3.3%
Q2 2024-1.7%-0.8%+4.8%
Q1 2024+3.3%+4.2%+4.5%
Q4 2023+1.2%+1.2%+1.2%
Q3 2023-2.3%+2.3%+4.4%
Q2 2023-3.8%-2.4%-4.5%
Q1 2023-1.6%+3.3%-2.8%
Q4 2022-0.6%+1.6%-10.4%
Q3 2022-0.5%-1.6%-2.6%
Q2 2022+3.0%+6.7%+5.7%
Q1 2022-4.6%-9.7%-15.4%
Q4 2021+3.7%+1.6%-2.3%
Q3 2021+2.2%+1.3%+3.0%
Q2 2021-0.4%-0.4%-2.0%
Q1 2021-1.5%-0.7%+2.6%
Q4 2020+2.8%+2.3%+11.4%
Q3 2020-8.8%-7.3%+19.2%
Q2 2020+0.5%+0.6%+6.2%
Q1 2020-2.4%+2.8%-1.3%
Q4 2019-0.1%+0.9%-4.7%
Q3 2019-1.0%-1.2%-4.1%
Q2 2019-0.9%+1.1%+5.9%
Q1 2019+1.6%+1.7%+0.7%
Q4 2018+0.4%+0.4%+2.7%
Q3 2018+3.0%+2.0%+9.4%
Q2 2018+2.2%+1.3%+5.7%
Q1 2018-0.2%+2.5%+1.3%
Q4 2017+0.7%-2.1%-8.0%
Q3 2017+0.3%+1.5%+2.2%
Q2 2017+1.1%+1.6%+2.0%
Q1 2017+1.7%+0.6%+1.4%
Q4 2016-1.3%-0.5%+4.2%
Q3 2016+0.7%-0.9%-2.5%
Q2 2016-6.0%-3.1%-6.5%
Q1 2016-3.5%
Q4 2015-1.4%
Q3 2015+0.2%
Q2 2015-0.8%
Q1 2015-1.7%
Q4 2014+2.4%
Q3 2014-0.1%
Q2 2014+1.1%
Q1 2014+0.5%
Q4 2013+1.8%
Q3 2013-2.8%
Q2 2013-3.1%
Q1 2013-0.5%
Q4 2012+1.4%
Q3 2012+0.2%
Q2 2012-0.9%
Q1 2012-1.3%
Q4 2011+0.2%
Q3 2011-0.1%
Q2 2011-9.2%
Q1 2011-1.1%
Q4 2010+0.1%
Q3 2010+4.1%
Q2 2010-2.1%
Q1 2009-6.1%
Q1 2010-0.9%
Q4 2009-0.1%
Q4 2007-0.1%
Q3 2008+1.1%
Q3 2009+1.1%
Q4 2008+8.8%
Q2 2009+8.8%
Q2 2008+8.8%

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