Empire State Realty OP - S250 | 10-Q: FY2025 Q3 Revenue: USD 197.73 M

Revenue: As of FY2025 Q3, the actual value is USD 197.73 M.

EPS: As of FY2025 Q3, the actual value is USD 0.05.

EBIT: As of FY2025 Q3, the actual value is USD 63.38 M.

Real Estate Segment

• Rental Revenue: Increased by 3.5% to $158.4 million for the three months ended September 30, 2025, compared to $153.1 million for the same period in 2024, primarily due to acquisitions and higher tenant reimbursement income.
• Property Operating Expenses: Increased by 2.2% to $46.957 million for the three months ended September 30, 2025, compared to $45.954 million for the same period in 2024, mainly due to higher repair and maintenance costs.
• Real Estate Taxes: Increased by 3.9% to $33.241 million for the three months ended September 30, 2025, compared to $31.982 million for the same period in 2024, due to higher tax rates and property valuations.
• Net Operating Income (NOI): For the nine months ended September 30, 2025, the real estate segment reported NOI of $287.928 million.

Observatory Segment

• Observatory Revenue: Decreased by 8.5% to $36.037 million for the three months ended September 30, 2025, compared to $39.382 million for the same period in 2024, primarily due to lower levels of international tourism.
• Observatory Expenses: Decreased by 2.1% to $9.510 million for the three months ended September 30, 2025, compared to $9.715 million for the same period in 2024.
• Net Operating Income (NOI): For the nine months ended September 30, 2025, the observatory segment reported NOI of $9.636 million.

Cash Flow

• Operating Cash Flow: Increased to $215.154 million for the nine months ended September 30, 2025, compared to $210.860 million for the same period in 2024.
• Investing Activities: Net cash used in investing activities was $188.098 million for the nine months ended September 30, 2025, compared to $318.470 million for the same period in 2024, primarily due to acquisitions.
• Financing Activities: Net cash used in financing activities was $258.603 million for the nine months ended September 30, 2025, compared to net cash provided by financing activities of $170.573 million for the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: The company aims to maintain a diversified portfolio with a focus on modernized, amenitized, and well-located properties, supported by a strong balance sheet and access to liquidity.
• Non-Core Business: The company has not specified plans related to divestitures or emerging segments in the provided content.