Filing Flows › Empire State Realty Trust (ESRT) › Q4 2024
Empire State Realty Trust (ESRT) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 28, 2025
Empire State Realty Trust (ESRT) reported revenue of $198M for the fourth quarter 2024 (Q4 2024), +2% from a year earlier and -1% from the quarter before. Operating margin was 21.7%, net earnings $11.2M (5.7% of revenue).
Empire State Realty Trust, Q4 2024: revenue $198M (+2% year over year), operating margin 21.7%, net earnings $11.2M, operating cash flow $50.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $198M | -1% | +2% |
| Operating profit | $42.9M | -5% | +5% |
| Net earnings | $11.2M | -18% | +23% |
| Operating cash flow | $50.0M | -51% | +37% |
| Free cash flow | $21.0M | — | — |
What changed
Revenue was $197.6M in Q4 2024, up 2% year over year and down 1% from the previous quarter.
Operating profit was $42.9M, a 21.7% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 46% reached operating profit, above the 21% margin then. Total costs grew 2% against revenue growth of 2%. Net earnings were $11.2M, up 23% year over year. The effective tax rate was 5.8%.
Operating cash flow was $50.0M (up 37% year over year), 266% of net income including minority interests. Non-cash charges added back $45.4M of depreciation and amortization and $6.1M of share-based compensation. Working capital and other items used $20.2M. Capital expenditures of $29.0M left free cash flow of $21.0M.
Questions
What was Empire State Realty Trust's revenue in the fourth quarter 2024?
Empire State Realty Trust (ESRT) reported revenue of $198M for the fourth quarter 2024 (Q4 2024), +2% from a year earlier and -1% from the quarter before.
Was Empire State Realty Trust profitable in the fourth quarter 2024?
Operating profit was $42.9M (21.7% of revenue) and net earnings $11.2M.