Equity Residential Bottom Line Falls 3% In Q1

(RTTNews) - Equity Residential (EQR) revealed earnings for first quarter that decreased from last year.

The company said its earnings dropped to $289.48 million, or $0.76 per share. This was lower than $299.00 million, or $0.79 per share, in last year's first quarter.

Analysts had expected the company to earn $0.73 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.1% to $619.08 million. This was down from $666.37 million last year.

Equity Residential earnings at a glance:

-Earnings (Q1): $289.48 Mln. vs. $299.00 Mln. last year. -Earnings Decline (Y-o-Y): -3.2% -EPS (Q1): $0.76 vs. $0.79 last year. -EPS Decline (Y-o-Y): -3.8% -Analysts Estimate: $0.73 -Revenue (Q1): $619.08 Mln vs. $666.37 Mln last year. -Revenue Change (Y-o-Y): -7.1%

-Guidance: Next quarter EPS guidance: $0.67 - $0.73 Next quarter revenue guidance: $700 - $740 Mln Full year EPS guidance: $2.67 - $2.77 Full year revenue guidance: $2.7 - $3.0 Bln