Empire State Realty Trust, Inc.ESRTEarnings & Financial Report
Empire State Realty Trust is a leading real estate investment trust that owns, manages, and operates a portfolio of premium commercial, residential, and retail properties primarily in the New York City metropolitan area, including the iconic Empire State Building. It serves corporate tenants, retail partners, and residential occupants, focusing on sustainable property operations and long-term asset value growth.
Revenue
$197.6M
Gross Profit
N/A
Operating Profit
$42.9M
Net Profit
$18.8M
Gross Margin
N/A
Operating Margin
21.7%
Net Margin
9.5%
YoY Growth
2.4%
EPS
$0.07
Empire State Realty Trust, Inc. Q4 FY2024 Financial Summary
Empire State Realty Trust, Inc. reported revenue of $197.6M (up 2.4% YoY) for Q4 FY2024, with a net profit of $18.8M (up 18.7% YoY) (9.5% margin).
Key Financial Metrics
| Total Revenue | $197.6M |
|---|---|
| Net Profit | $18.8M |
| Gross Margin | N/A |
| Operating Margin | 21.7% |
| Report Period | Q4 FY2024 |
Revenue Breakdown
Empire State Realty Trust, Inc. Q4 FY2024 revenue of $197.6M breaks down across 2 segments, led by Observatory Segment at $136.4M (69.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Observatory Segment | $136.4M | 69.0% |
| Other | $61.2M | 31.0% |
Empire State Realty Trust, Inc. Revenue by Segment — Quarterly Trend
Empire State Realty Trust, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Observatory Segment and Other) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Observatory Segment | — | $35.2M | $36.0M | $33.9M |
Empire State Realty Trust, Inc. Annual Revenue by Year
Empire State Realty Trust, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $768.3M).
| Year | Annual Revenue |
|---|---|
| 2025 | $768.3M |
| 2024 | $767.9M |
| 2023 | $739.6M |
| 2022 | $727.0M |
Empire State Realty Trust, Inc. Quarterly Revenue & Net Profit History
Empire State Realty Trust, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $190.3M | +5.7% | $3.0M | 1.6% |
| Q4 FY2025 | $199.2M | +0.8% | $32.2M | 16.1% |
| Q3 FY2025 | $197.7M | -0.9% | $13.6M | 6.9% |
| Q2 FY2025 | $191.3M | +0.9% | $11.4M | 6.0% |
| Q1 FY2025 | $180.1M | -0.6% | $15.8M | 8.8% |
| Q4 FY2024 | $197.6M | +2.4% | $18.8M | 9.5% |
| Q3 FY2024 | $199.6M | +4.2% | $22.8M | 11.4% |
| Q2 FY2024 | $189.5M | -0.5% | $28.6M | 15.1% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $189.5M | $199.6M | $197.6M | $180.1M | $191.3M | $197.7M | $199.2M | $190.3M |
| YoY Growth | -0.5% | 4.2% | 2.4% | -0.6% | 0.9% | -0.9% | 0.8% | 5.7% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $4.43B | $4.44B | $4.51B | $4.11B | $4.08B | $4.11B | $4.47B | $4.41B |
| Liabilities | $2.68B | $2.68B | $2.73B | $2.33B | $2.29B | $2.31B | $2.65B | $2.58B |
| Equity | $1.01B | $1.02B | $1.03B | $1.03B | $1.04B | $1.04B | $1.06B | $1.82B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $37.1M | $102.8M | $260.9M | $83.1M | $26.7M | $105.3M | $249.1M |