Empire State Realty Trust Full Year 2024 Earnings: Beats Expectations

Empire State Realty Trust (NYSE:ESRT) Full Year 2024 Results

Key Financial Results

• Revenue: US$763.2m (up 3.2% from FY 2023).
• Funds from operations (FFO): US$243.4m (up 2.3% from FY 2023).
• FFO margin: 32% (in line with FY 2023).
• FFO per share: US$1.5.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Empire State Realty Trust Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates significantly.

Looking ahead, revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the REITs industry in the US.

Performance of the American REITs industry.

The company's shares are down 4.5% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Empire State Realty Trust has 3 warning signs (and 2 which don't sit too well with us) we think you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.