Equity Residential Q1 adjusted earnings Beat Estimates

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

The company's bottom line came in at $56.77 million, or $0.15 per share. This compares with $307.83 million, or $0.83 per share, in last year's first quarter.

Excluding items, Equity Residential reported adjusted earnings of $262.29 million or $0.68 per share for the period.

Analysts had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.4% to $597.60 million from $682.31 million last year.

Equity Residential earnings at a glance:

-Earnings (Q1): $262.29 Mln. vs. $335.09 Mln. last year. -EPS (Q1): $0.68 vs. $0.87 last year. -Analysts Estimate: $0.24 -Revenue (Q1): $597.60 Mln vs. $682.31 Mln last year.

-Guidance: Next quarter EPS guidance: $0.66 to $0.70 Full year EPS guidance: $2.57 to $2.67