Equity Residential Earnings Retreat 11% In Q2

(RTTNews) - Equity Residential (EQR) announced a profit for second quarter that decreased compared to the same period last year.

The company said its bottom line fell to $290.36 million, or $0.76 per share. This was lower than $325.26 million, or $0.85 per share, in last year's second quarter.

Analysts had expected the company to earn $0.78 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 12.4% to $595.15 million. This was down from $679.11 million last year.

Equity Residential earnings at a glance:

-Earnings (Q2): $290.36 Mln. vs. $325.26 Mln. last year. -Earnings Decline (Y-o-Y): -10.7% -EPS (Q2): $0.76 vs. $0.85 last year. -EPS Decline (Y-o-Y): -10.6% -Analysts Estimate: $0.78 -Revenue (Q2): $595.15 Mln vs. $679.11 Mln last year. -Revenue Change (Y-o-Y): -12.4%

-Guidance: Next quarter EPS guidance: $0.75 - $0.79 Full year EPS guidance: $3.05 - $3.11