NYSE$EQR
Equity Residential · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Equity Residential reported Q4 2022 results, expecting continued above trend growth in 2023.
Equity Residential reported strong Q4 2022 results, with EPS at $0.42, FFO per share at $0.97, and Normalized FFO per share at $0.94. The company expects continued above trend same store operating results in 2023, driven by solid demand and limited expense growth.
- Reported a 10.6% increase in same store revenue for the full year 2022 compared to the full year 2021, driven by strong demand.
- Provided full year 2023 guidance with same store revenue growth expected to be between 4.5% and 6.0%.
- During 2022, the Company was a net seller of approximately $633.2 million of attractively priced non-core properties, the proceeds from which were utilized to pay down near-term debt maturities, reducing refinancing needs for 2023.
- In October 2022, the Company further enhanced liquidity and financial flexibility by entering into a new $2.5 billion unsecured revolving credit facility maturing in 2027 that replaces the prior facility of the same size that was set to mature in 2024.
Headline financials
Revenue & EPS history
Equity Residential · Revenue · Quarterly
$700M
Forward guidance
The Company has established guidance ranges for the first quarter of 2023 EPS, FFO per share and Normalized FFO per share as listed below: Q1 2023Guidance EPS $0.28 to $0.32 FFO per share $0.83 to $0.87 Normalized FFO per share $0.84 to $0.88
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 Q4 2022
-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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