Recap: Essex Property Trust Q4 Earnings

Essex Property Trust ESS reported its Q4 earnings results on Tuesday, February 6, 2024 at 04:15 PM.

Here's what investors need to know about the announcement.

Earnings

Essex Property Trust beat estimated earnings by 0.52%, reporting an EPS of $3.83 versus an estimate of $3.81.

Revenue was down $2.44 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.01 which was followed by a 0.94% drop in the share price the next day.

Here's a look at Essex Property Trust's past performance:

Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022
EPS Estimate 3.77
EPS Actual 3.78 3.77 3.65 3.77
Revenue Estimate 419.54M 413.66M 411.29M 412.82M
Revenue Actual 419.18M 416.04M 412.42M 415.18M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Essex Property Trust management provided guidance for FY 2024, expecting earnings between $14.76 and $15.3 per share.

To track all earnings releases for Essex Property Trust visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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