Empire State Realty Trust Q2 2024 GAAP EPS $0.24, Inline, Sales $152.470M Miss $189.402M Estimate
Portfolio Pulse from Benzinga Newsdesk
Empire State Realty Trust (NYSE:ESRT) reported Q2 2024 earnings per share (EPS) of $0.24, which met analyst expectations but represented a 7.69% decrease from the previous year. However, the company's sales of $152.470 million missed the analyst estimate of $189.402 million by 19.50%, showing a 1.38% decline from the same period last year.
July 24, 2024 | 9:03 pm
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Empire State Realty Trust's Q2 2024 EPS of $0.24 met expectations but sales of $152.470 million missed estimates by 19.50%, showing a 1.38% decline from the same period last year. This mixed performance may lead to short-term volatility in the stock price.
While the EPS met expectations, the significant miss in sales and the year-over-year decline in both EPS and sales are likely to negatively impact investor sentiment. This could result in a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100