Revenue: As of FY2025 Q1, the actual value is USD 180.07 M.

EPS: As of FY2025 Q1, the actual value is USD 0.05.

EBIT: As of FY2025 Q1, the actual value is USD 15.16 M.

Real Estate Segment

• Rental Revenue: Increased by $0.66 million to $154.54 million, primarily due to higher operating and real estate tax expense escalations, offset by the net impact of acquisitions and dispositions made during 2024, which reduced rental revenue by $4.0 million.
• Property Operating Expenses: Consistent at $45.06 million, with a $2.1 million decrease due to acquisitions and dispositions made during 2024, offset by increases in payroll costs and utilities.
• Interest Expense: Increased by $1.81 million to $26.94 million, due to the issuance of Series I-K senior unsecured notes and the paydown of Series A senior unsecured notes and revolver.
• Gain on Disposition of Property: $13.17 million gain primarily from the deconsolidation of the mezzanine debt obligation related to the consensual foreclosure of First Stamford Place.

Observatory Segment

• Observatory Revenue: Decreased by $1.44 million to $23.16 million, primarily due to decreased visitation related to the timing of the Easter holiday.
• Observatory Expenses: Decreased by $0.31 million to $8.12 million.

Cash Flow

• Operating Cash Flow: Increased by $12.2 million to $83.15 million, primarily due to increases in working capital.
• Investing Cash Flow: Decreased by $29.2 million to -$42.06 million, primarily due to prior year acquisition of non-controlling interests and a decrease in capital expenditures.
• Financing Cash Flow: Increased by $211.7 million to -$232.97 million, primarily due to repayment of Series A senior unsecured notes and pay-down on unsecured revolving credit facility.

Outlook

• Core Business Focus: ESRT is in a good competitive position with diversified drivers of income across office, retail, multifamily, and the Empire State Building Observatory. The company is supported by a well-positioned balance sheet, modest leverage, and good access to liquidity.
• Non-Core Business: No specific plans related to divestitures or emerging segments were mentioned.