EQUITY RESIDENTIAL is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: EQR reported a sharp 64.9% YoY decline in net income to $90.1M in Q1 FY2026, primarily driven by lower gains on property dispositions compared to the prior year period, while operating cash flow remained solid at $400.5M.
Drawn from management commentary in the Q1 2026 10-Q:
Net income fell sharply to $90.1M from $256.6M in Q1 FY2025, a 64.9% YoY drop. This decline is largely attributable to significantly lower gains on property sales in the current period compared to the prior year, which is typical for REIT earnings volatility.
Despite the net income decline, operating cash flow came in at $400.5M, down only 5.9% YoY from $425.5M, indicating that core rental operations continue to generate strong and stable cash flows.
EQR repurchased $219.4M in shares during Q1 FY2026, reflecting management's confidence in the stock's value. Financing cash outflows narrowed to -$328.1M from -$541.5M in the prior year, a 39.4% improvement, suggesting reduced debt repayment or distribution activity.
EPS (Basic)
$0.24
-64.71% YoY
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