Filing Flows › Empire State Realty OP, L.P. (ESBA) › Q3 2026 › vs Q3 2025
Empire State Realty OP, L.P. (ESBA) Q3 2026 vs Q3 2025 (year over year)
Empire State Realty OP, L.P.'s revenue fell $4.7M (-2%) from $198M in Q3 2025 to $193M in Q3 2026. The biggest changes: Other revenue and fees −$3.2M (-45%); Rental revenue −$3.2M (-2%); Observatory revenue +$2.6M (+11%). Operating margin 18.5% against 19.9% (-1.3 pts).
Empire State Realty OP, L.P., Q3 2026: revenue $193M (-2% year over year), operating margin 18.5%, net earnings $3.1M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.5% | 19.9% | -1.3 pts |
| Net margin | 1.6% | 6.4% | -4.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Rental revenue | $162M | $165M | −$3.2M | -2% |
| Observatory revenue | $26.8M | $24.2M | $2.6M | +11% |
| Other revenue and fees | $4.0M | $7.2M | −$3.2M | -45% |
| Third-party management and other fees | $277K | $268K | $9K | +3% |
| Revenue | $193M | $198M | −$4.7M | -2% |
| Operating profit | $35.8M | $39.3M | −$3.5M | -9% |
| Costs & expenses | $157M | $158M | −$1.2M | -0.7% |
| Pre-tax earnings | $7.8M | $15.3M | −$7.5M | -49% |
| Other expense, net | $28.0M | $24.0M | $4.0M | +17% |
| General & admin | $17.2M | $18.7M | −$1.6M | -8% |
| Other operating costs | $140M | $140M | $414K | +0.3% |
| Net earnings | $3.1M | $12.6M | −$9.5M | -76% |
| Minority interests | $2.8M | $1.1M | $1.8M | +168% |
| Income tax | $1.9M | $1.6M | $230K | +14% |
Questions
How much did Empire State Realty OP, L.P.'s revenue grow year over year in Q3 2026?
Empire State Realty OP, L.P.'s revenue fell $4.7M (-2%) from $198M in Q3 2025 to $193M in Q3 2026.
What drove Empire State Realty OP, L.P.'s revenue change in Q3 2026?
Other revenue and fees −$3.2M (-45%); Rental revenue −$3.2M (-2%); Observatory revenue +$2.6M (+11%).