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Equity Commonwealth (EQC)
NYSE:EQC
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
$0.23Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -91.07%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a measured outlook with several positive developments such as upcoming asset sales and shareholder meetings, balanced by challenges in the disposition process and a significant impairment charge.Company Guidance
During the Equity Commonwealth (EQC) earnings call for Q3 2024, the company provided updates on its strategic transition, including the sale of properties and shareholder plans. The company is under contract to sell its properties in Austin and Washington DC, recognizing a $50 million non-cash impairment charge this quarter, with expected sales proceeds totaling $234 million, consistent with previous estimates. A special shareholder meeting is scheduled for November 12, 2024, to approve the Plan of Sale, which could result in distributions ranging from $19.50 to $21 per share. Should the plan be approved, EQC will adopt liquidation basis accounting by year-end, and expects to pay off Series D preferred shares and declare a common distribution of $18 to $19 per share. The company aims to complete asset sales by the end of Q1 2025, with subsequent NYSE delisting and SEC deregistration in Q2 2025, while maintaining REIT status for 2024 and 2025.Upcoming Asset Sales
2 Austin properties and a DC property are under contract, with sales expected to close in early November. The total pricing for these sales and the Denver property remains consistent at $234 million.
Special Shareholder Meeting Scheduled
A meeting is set for November 12 to approve the Plan of Sale and related advisory vote on Say of Pay, with estimated distributions between $19.50 to $21 per share.
Series D Preferred and Common Distribution Plans
Assuming shareholder approval, Series D preferred will be paid first followed by a common distribution of $18 to $19 per share in early December.
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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 |
|---|---|---|---|
| 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% |
| Feb 12, 2024 | $19.05 | $18.81 | -1.26% |
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 Feb 05, 2025, TBA Not Confirmed.
What is Equity Commonwealth (EQC) earnings time?
Equity Commonwealth (EQC) earnings time is at Feb 05, 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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