earnings
confidence high
sentiment positive
materiality 0.70
ESRT Q2 Core FFO $0.29, raises 2022 guidance to $0.80-0.85
Empire State Realty Trust, Inc.
2022-Q2 EPS reported
$0.11
revenue$362,056,000
- Net income $0.18 per diluted share; Core FFO $0.29 per share vs $0.18 YoY.
- Same-store cash NOI (ex termination fees) down 7.1% YoY on higher operating expenses.
- Observatory NOI $19.6M (80% of Q2 2019); 573k visitors in Q2.
- Repurchased $53.7M stock at avg $7.90; $1.2B liquidity, no debt maturities until Nov 2024.
- Updated 2022 Core FFO guidance to $0.80-$0.85 from $0.73-$0.78, helped by $0.07 lease termination fees.