NYSE$EQR
Equity Residential · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Equity Residential's results were impacted by the pandemic, with suburban portfolios performing relatively well and urban cores struggling due to declines in economic activity and rental rates.
Equity Residential reported challenging and widely varying operating results for Q3 2020, with suburban portfolios performing better than urban cores, which were affected by pandemic-related economic reductions. The company collected approximately 97% of expected residential revenues and reduced total debt by over $600 million using proceeds from property dispositions.
- Collected approximately 97% of expected Residential revenues in Q3 2020.
- Balance sheet and liquidity position remained exceptionally strong.
- Reduced total debt by over $600 million during 2020 using proceeds from property dispositions.
- Urban cores of New York, San Francisco, and Boston continue to struggle with pandemic-related reductions in economic activity.
Headline financials
Revenue & EPS history
Equity Residential · Revenue · Quarterly
-$50K
Forward guidance
The company anticipates that financial results will weaken over subsequent quarters as the full effect of the pandemic is felt on the business. They expect positive developments relating to the pandemic will eventually re-energize the urban centers.
Tailwinds
- The Company collected approximately 97% of its expected Residential revenues in the third quarter of 2020
- The Company’s balance sheet and liquidity position remains exceptionally strong
- Reduced total debt by over $600 million during 2020 using proceeds from property dispositions.
- Expect that positive developments relating to the pandemic will eventually re-energize the urban centers
- Continue to see the urban locations in our markets as centers of our country’s knowledge industries and expect them to again attract disproportionate numbers of affluent renters once the pandemic ends.
Headwinds
- Operating results in the quarter were challenging and widely varying.
- Approximately 23% of our portfolio located in the urban cores of New York, San Francisco and Boston continues to struggle with pandemic-related reductions in economic activity.
- Pandemic-related reductions have led to declines in occupancy, lower resident renewal levels and a related drop in rental rates.
- Pricing pressures continue and headwinds remain.
- Financial results will weaken over subsequent quarters as the full effect of the pandemic is felt on our business.
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 Q3 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
| Quarter | Report date | Reaction (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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