NYSE$UDR

UDR Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

UDR's third quarter results for 2022 were announced, showcasing strong operating performance and increased full-year guidance.

UDR announced its third quarter 2022 results, with FFOA per share meeting the high end of expectations and full-year guidance raised for the third time. The company's strong operating results and recent acquisitions contributed to the positive performance.

  • FFOA per share met the high end of expectations.
  • Full-year 2022 guidance was raised for the third time.
  • Strong operating results drove the positive outcomes.
  • Recent acquisitions contributed to the company's accretion.

Headline financials

Total Revenue

$391M

Previous: $330M+18.7%
EPS (adj)

$0.60

Previous: $0.51+17.6%
FFO per diluted share

$0.57

Previous: $0.55+3.6%
Capital Expenditures

-$658M

Previous: -$1.15B+42.6%
Free Cash Flow

-$634M

Previous: -$1.13B+43.8%
Net Income

$23.6M

Previous: $17.7M+33.1%
Operating Income

$62.9M

Previous: $33.2M+89.7%
Gross Profit

$324M

Previous: $270M+20.2%
Cash & Equivalents

$1.53M

Previous: $1.06M+44.1%
Total Assets

$11.1B

Previous: $10.4B+6.7%
Stock-Based Comp

$6.64M

Previous: $6.16M+7.8%

Revenue & EPS history

UDR · Revenue · Quarterly

$391M

Q3 2022+18.7%vs Q3 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

For the fourth quarter 2022, the Company has established the following earnings guidance ranges. Additionally, the Company has increased its previously provided full-year 2022 Same-Store and earnings guidance ranges

Tailwinds

  • Net Income/(Loss) per diluted share: $0.11 to $0.13
  • FFO per diluted share: $0.60 to $0.62
  • FFOA per diluted share: $0.60 to $0.62
  • AFFO per diluted share: $0.54 to $0.56
  • SS Revenue: 11.25% to 11.75%

Headwinds

  • SS Expense: 5.0% to 5.5%
  • SS NOI: 14.00% to 14.75%
  • SS Revenue (cash basis): 10.75% to 11.25%
  • SS NOI (cash basis): 13.25% to 14.00%
  • None

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 2022

Historical avgQ3 2022

-0.3%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+1.7%

Avg return

30 days after

50%

34 / 68 earnings

Positive

+5.5%

Q3 2020

Best reaction

-12.1%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.3%+2.2%+2.0%
Q4 2025+4.3%+0.9%-4.5%
Q3 2025+0.2%+2.1%+8.5%
Q1 2025+1.7%+2.3%-1.1%
Q4 2024+1.8%+1.3%+5.4%
Q3 2024-3.3%-3.5%+5.2%
Q2 2024-2.6%-1.4%+7.2%
Q1 2024-2.1%-0.2%-1.1%
Q4 2023-0.3%-0.2%+6.4%
Q3 2023-7.1%-6.4%-1.9%
Q2 2023-3.9%-3.2%-7.3%
Q1 2023+0.6%+0.9%-4.0%
Q4 2022+1.1%+1.6%-3.0%
Q3 2022-3.2%-2.0%+0.4%
Q2 2022+1.0%+5.1%+3.5%
Q1 2022-3.2%-7.9%-17.7%
Q4 2021+1.2%-1.9%+1.7%
Q3 2021+1.4%+1.6%+5.5%
Q2 2021+0.7%-0.4%-4.3%
Q1 2021-2.2%-0.8%+0.4%
Q4 2020+1.9%+4.3%+6.4%
Q3 2020+5.5%+16.8%+32.5%
Q2 2020-0.1%+2.5%-1.0%
Q1 2020+3.4%+3.2%+13.9%
Q4 2019-0.2%+1.9%-16.5%
Q3 2019+2.7%+1.4%-2.1%
Q2 2019-1.1%-0.6%+3.3%
Q1 2019+0.2%+0.2%-0.4%
Q4 2018+0.3%+0.1%+1.8%
Q3 2018+3.6%-0.1%+7.3%
Q2 2018+4.0%+5.8%+8.3%
Q1 2018+1.7%+2.8%+1.0%
Q4 2017-1.1%-1.1%+0.9%
Q3 2017+0.7%-0.1%+2.2%
Q2 2017+0.0%+1.1%+0.9%
Q1 2017+2.3%+3.1%+6.0%
Q4 2016+0.1%-0.7%+4.4%
Q3 2016+1.9%+0.7%-0.6%
Q2 2016-2.8%+0.4%-2.7%
Q1 2016+0.3%
Q4 2015+0.6%
Q3 2015-0.4%
Q2 2015-0.3%
Q1 2015+1.0%
Q4 2014+0.4%
Q3 2014-0.0%
Q2 2014+1.2%
Q1 2014+0.1%
Q4 2013+2.9%
Q3 2013-0.4%
Q2 2013-1.6%
Q1 2013-0.7%
Q4 2012+0.9%
Q3 2012+0.2%
Q2 2012-1.2%
Q1 2012-0.2%
Q4 2011-1.6%
Q3 2011+0.1%
Q2 2011-12.1%
Q1 2010-1.5%
Q1 2011+1.9%
Q4 2010-1.4%
Q4 2008-1.4%
Q3 2010-3.3%
Q3 2009-3.3%
Q2 2010-2.3%
Q2 2009-2.3%
Q4 2009-2.3%

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