Equity Residential Q3 Profit Declines 13%

(RTTNews) - Equity Residential (EQR) released earnings for third quarter that fell from last year.

The company said its profit came in at $297.19 million, or $0.78 per share. This was down from $340.49 million, or $0.89 per share, in last year's third 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 13.0% to $606.07 million. This was down from $696.29 million last year.

Equity Residential earnings at a glance:

-Earnings (Q3): $297.19 Mln. vs. $340.49 Mln. last year. -Earnings Decline (Y-o-Y): -12.7% -EPS (Q3): $0.78 vs. $0.89 last year. -EPS Decline (Y-o-Y): -12.4% -Analysts Estimate: $0.78 -Revenue (Q3): $606.07 Mln vs. $696.29 Mln last year. -Revenue Change (Y-o-Y): -13.0%

-Guidance: Next quarter EPS guidance: $0.77 - $0.81 Full year EPS guidance: $3.06 - $3.10