ESRT Q3 Core FFO $0.21/sh; 2022 Core FFO guidance raised to $0.83-$0.85; observatory NOI guidance cut

Empire State Realty Trust, Inc.

2022-Q3 EPS reported $0.14 revenue$545,768,000

Q3 Core FFO of $0.21 per diluted share vs $0.20 in Q3 2021; net income of $0.03 per share.
Same-store cash NOI excluding lease termination fees fell 7.5% YoY, driven by higher operating expenses from increased building utilization.
Signed 335,382 RSF of leases; total commercial portfolio 88.5% leased, Manhattan office 89.4%.
2022 Core FFO guidance raised to $0.83-$0.85/sh from $0.80-$0.85; Observatory NOI guidance cut to $67-$70M from $74-$77M.
Repurchased $20.1M of common stock in Q3 and through Oct 24; $1.2B liquidity, no debt maturities until Nov 2024.

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