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Empire State Realty OP | 10-Q: FY2025 Q3 Revenue: USD 197.73 M
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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
Operating Expenses
- Property operating expenses increased by 2.2% to $46.9 million for the three months ended September 30, 2025, and by 3.3% to $136.9 million for the nine months ended September 30, 2025.
- Real estate taxes increased by 3.9% to $33.2 million for the three months ended September 30, 2025, and by 2.9% to $98.9 million for the nine months ended September 30, 2025.
Net Operating Income
- Net operating income decreased by 4.1% to $98.9 million for the three months ended September 30, 2025, and by 2.8% to $287.9 million for the nine months ended September 30, 2025.
Observatory Segment
Operating Expenses
- Observatory expenses decreased by 2.1% to $9.5 million for the three months ended September 30, 2025, and increased by 1.3% to $27.5 million for the nine months ended September 30, 2025.
Net Operating Income
- Net operating income increased by 2.2% to $6.3 million for the three months ended September 30, 2025, but decreased by 8.6% to $9.6 million for the nine months ended September 30, 2025.
Cash Flow
- Net cash provided by operating activities was $215.2 million for the nine months ended September 30, 2025.
- Net cash used in investing activities was - $188.1 million for the nine months ended September 30, 2025.
- Net cash used in financing activities was - $258.6 million for the nine months ended September 30, 2025.
Future Outlook and Strategy
Core Business Focus
- The company plans to continue focusing on its diversified portfolio, including office, retail, multifamily, and the Empire State Building Observatory, while maintaining a well-positioned balance sheet, modest leverage, and good access to liquidity.
Non-Core Business
- The company does not have any specific plans related to divestitures or emerging segments mentioned in the report.
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