Equity Residential (EQR) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

2025 Earnings Conference Call and Webcast. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Marty McKenna. Please go ahead. Good morning, and thanks for joining us to discuss Equity Residential's second quarter 2025 results. Our featured speakers today are Mark Perel, our President and CEO, Michael Manelis, our Chief Operating Officer, and Bob Garachana, our Chief Financial Officer. Alec Brackenridge, our chief investment officer, is here with us as well for the Q&A. Our earnings release is posted in the investor 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 Perel. Thank you, Marty. Good morning and thanks for joining us today. I will lead us off with some top of the house commentary. Then Michael Manelis, our chief operating officer, will provide color on our second quarter performance as well as what he is seeing in the markets today and an update on some of the initiatives we have going on. He will then turn the call over to Bob Giaraschana in his last call as our CFO before he takes over as our chief investment officer. And Bob will provide some color on our guidance changes and then we'll go ahead and take your questions. Alec Brackenridge, our soon-to-retire CIO, is here with us for the Q&A. Our second quarter results and guidance continue to reflect the sustained demand and excellent resident retention that we ar...