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Equity Commonwealth (EQC)
NYSE:EQC
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.22Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: -7.60%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Positive
The call highlighted a successful execution of asset sales and effective management of the wind-down process, with strong shareholder support and favorable distributions. However, the transition to a liquidating trust and delisting from the NYSE marks a significant organizational change.Company Guidance
During the call, Bill Griffiths, CFO of Equity Commonwealth, provided detailed guidance on the company's wind-down process. The company successfully completed the sale of 1225 Seventeenth Street Plaza in Denver for a gross price of $132.5 million, netting $124.4 million after credits. Since 2014, EQC has sold over $7.9 billion in assets, including 168 properties and three land parcels totaling 45.8 million square feet, with an aggregate gross sales price of $7.2 billion. Additionally, they retired $3.4 billion of debt and preferred shares, repurchased $652 million in common shares, and distributed $3.8 billion to shareholders. The recent Special Shareholder Meeting saw 99% approval for the plan of sale. EQC adopted a liquidation basis of accounting for the 2024 10-K, with net assets in liquidation estimated at $179 million. The estimated shareholder liquidating distribution range was updated to $20.55 to $20.70 per share, inclusive of a $19 distribution already paid. The final distribution is anticipated in mid-April, after which the company's shares will be delisted from the NYSE, and EQC will transfer remaining assets to a Maryland liquidating trust, converting shares into beneficial interest units. The company plans to deregister with the SEC and expects to maintain REIT status until the transfer.Completion of Asset Sales
The sale of 1225 Seventeenth Street Plaza in Denver was completed for a gross price of $132.5 million. This marks the successful execution of the sale of all company real estate assets, totaling over $7.9 billion in assets sold since 2014.
Shareholder Approval and Distributions
At the November 12 Special Shareholder Meeting, 99% of votes cast were in favor of the plan of sale. An initial liquidating distribution of $19 per share was paid in December, with an updated estimated aggregate shareholder liquidating distribution range of $20.55 to $20.70 per common share.
Debt and Equity Management
The company has retired $3.4 billion in debt and preferred shares, repurchased $652 million of common shares, and paid $3.8 billion in distributions to common shareholders.
Efficient Wind-Down Process
The company has effectively managed the wind-down process, including the sale of remaining properties and planning for the final distribution and delisting from the NYSE.
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EQC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EQC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $1.71 | $1.60 | -6.43% |
| Oct 23, 2024 | $19.81 | $19.80 | -0.05% |
| Jul 30, 2024 | $19.94 | $20.37 | +2.16% |
| May 01, 2024 | $18.73 | $19.05 | +1.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Equity Commonwealth (EQC) report earnings?
Equity Commonwealth (EQC) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Equity Commonwealth (EQC) earnings time?
Equity Commonwealth (EQC) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EQC EPS forecast?
Currently, no data Available
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