Equity Commonwealth Third Quarter 2022 Earnings: EPS Beats Expectations, Revenues Lag
Equity Commonwealth (NYSE:EQC) Third Quarter 2022 Results
Key Financial Results
Revenue: US$15.1m (up 9.0% from 3Q 2021).
Funds from operations (FFO): US$14.5m (up from US$265.0k loss in 3Q 2021).
FFO margin: 96% (up from net loss in 3Q 2021). The move to profitability was primarily driven by lower expenses.
FFO per share: US$0.1 (up from US$0.002 loss in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Equity Commonwealth EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) exceeded analyst estimates.
Looking ahead, revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the REITs industry in the US are expected to grow by 6.8%.
Performance of the American REITs industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 2 warning signs for Equity Commonwealth (1 is significant!) that you need to be mindful of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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