Short answer
Empire State Realty Trust, Inc. (ESRT) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $197M (down 1.1% year over year) with net income of $8M.
Q3 2025 key financials · XBRL
- Revenue
- $197M
- −1.1% YoY · +3.4% QoQ
- Net income
- $8M
- −41.0% YoY · +22.5% QoQ
- Operating margin
- 19.9%
- EPS (diluted)
- $0.05
- −37.5% YoY · +25.0% QoQ
Source: XBRL data from the Empire State Realty Trust, Inc. (ESRT) Q3 2025 10-Q on SEC EDGAR. USD.
Empire State Realty Trust, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $197.7M, down 0.9% YoY from $199.6M
- Q3 net income $13.6M, down 40.1% YoY from $22.8M
- Real Estate revenue $161.7M, up 0.9% YoY; Observatory revenue $36.0M, down 8.5%
- Cash and restricted cash $197.8M vs $469.9M; operating cash flow $215.2M, up $4.3M
- Debt repayments included $120.0M revolver and $100.0M Series A notes; international tourism and bad weather pressured Observatory visitation
Risk Factors
- No material risk-factor changes as of September 30, 2025
- Interest-rate and refinancing risk carried forward from 2024 10-K
- Manhattan office demand and occupancy weakness remained key operating risks
- Real-estate valuation exposure persisted amid changing market conditions
- Repurchase authorization risk: $497.9 million remained available through December 31, 2025
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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