ESRT Earnings Prediction
The chart below shows how ESRT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ESRT sees a -1.37% change in stock price 10 days leading up to the earnings, and a +1.25% change 10 days following the report. On the earnings day itself, the stock moves by -1.27%. This data can give you a slight idea of what to expect for the next quarter's release.
ESRT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
199.60M
4.22%
5.31%
Gross Margin
33.09%
4.58%
5.05%
Operating Margin
22.72%
2.99%
9.39%
Net Margin
11.42%
9.81%
-24.22%
EPS
0.05
25.00%
-16.67%
No Data Available
ESRT Earnings Analysis
EMPIRE STATE REALTY TRUST, INC. Corporation (ESRT.N) Earnings Conference Call
Positive
FFO Exceeds Consensus: In the third quarter, FFO came in above consensus at $69 million, or $0.26 per diluted share.
Manhattan Office Leasing Rate: Our Manhattan office portfolio stands at 93.6% leased, an increase of 30 basis points compared to last quarter, up 170 basis points compared to a year ago.
Acquisition of Retail Assets: We closed on $143 million of the previously announced $195 million acquisition of prime retail assets on North 6th Street in Williamsburg, Brooklyn.
Commercial Lease Expansion: We signed over 304,000 square feet of commercial leases and closed our 11th consecutive quarter with an increased leased percentage.
Tenant Attraction and Retention: We continue to attract and retain quality tenants who desire our fully modernized buildings that are located in Midtown Manhattan.
Negative
Core FFO Decline: Core FFO reported at $69 million, or $0.26 per diluted share, indicating a decrease compared to previous quarters.
Same-Store Cash NOI Growth: Same-store property cash NOI increased by 5.2% year-over-year, primarily driven by higher revenues from cash rent commencement, offset by increases in operating expenses.
Observatories Segment Expenses: Operating expenses for the Observatories segment were $9.7 million in the third quarter, contributing to a year-to-date net operating income of $71 million, which reflects increased costs.
Debt Burden Analysis: The company reported a total debt of $2.3 billion with a weighted average interest rate of 4.27%, indicating a significant financial burden.
Negative FFO Impact Anticipated: The company anticipates an adverse net impact on 2025 FFO of approximately $0.05 due to various factors, including increased costs and market conditions.
ESRT FAQs
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ESRT Earning Call Sentiment
Empire State Realty Trust, Inc. (ESRT) Q3 2024 Earnings Call Transcript
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ESRT.N
-0.05%Positive
The earnings call reveals stable financial performance with year-over-year NOI growth and positive rent spreads. However, the lack of clear guidance on lease and occupancy percentages, along with concerns over non-recurring revenue items, tempers optimism. The Q&A indicates cautious investor sentiment due to management's vague responses on key metrics. Despite positive developments like retail acquisitions, the overall outlook remains neutral, with no strong catalysts for significant stock price movement in the near term.