Equity Residential (EQR) Q1 2024 Earnings Call Transcript

Apr. 24, 2024 7:08 PM ETEquity Residential (EQR) Stock
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Q1: 2024-04-23 Earnings Summary

10-Q
EPS of $0.77 beats by $0.43 | Revenue of $730.82M (3.65% Y/Y) beats by $2.73M

Equity Residential (NYSE:EQR) Q1 2024 Earnings Conference Call April 24, 2024 11:00 AM ET

Company Participants

Marty McKenna - IR and Public Relations
Mark Parrell - President and CEO
Michael Manelis - EVP and COO
Alexander Brackenridge - EVP and CIO
Robert Garechana - EVP and CFO

Conference Call Participants

Eric Wolfe - Citi
John Pawlowski - Green Street
Steve Sakwa - Evercore ISI
Josh Dennerlein - Bank of America
Derrick Metzler - Morgan Stanley
Michael Goldsmith - UBS
Haendel St. Juste - Mizuho
Jamie Feldman - Wells Fargo
John Kim - BMO Capital Markets
Linda Tsai - Jefferies

Operator

Good day and welcome to the Equity Residential 1Q 2024 Earnings Conference Call and Webcast. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Marty McKenna. Please go ahead.

Marty McKenna

Good morning and thanks for joining us to discuss Equity Residential's first quarter 2024 results. Our featured speakers today are Mark Parrell, our President and CEO; and Michael Manelis, our Chief Operating Officer. Alex Brackenridge, our Chief Investment Officer; and Bob Garechana, our Chief Financial Officer are here with us as well for the Q&A. Our earnings release is posted in the Investors section of equityapartments.com.

Please be advised that certain matters discussed during this conference call may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to certain economic risks and uncertainties. The company assumes no obligation to update or supplement these statements that become untrue because of subsequent events.

Now, I will turn the call over to Mark Parrell.

Mark Parrell

Thank you, Marty. Good morning and thank you all for joining us today to discuss our first quarter 2024 results and outlook for the year. I will start us off, then Michael Manelis, our COO, will speak to

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