The call highlighted strong financial performance and strategic investments, particularly in Northern California, but also noted challenges in the Los Angeles market and a temporary earnings headwind from the reduction of the structured finance book.

Company Guidance

During the Essex Property Trust Second Quarter 2025 Earnings Call, the company reported a $0.07 Core FFO outperformance in the second quarter and increased guidance for the year. The same store portfolio saw a 3% blended rate growth, with Northern California and Seattle achieving 3.8% and 3.7% growth, respectively. Southern California lagged with 2% growth, particularly in Los Angeles. Notably, suburban markets like San Mateo and San Jose outperformed with 5.6% and 4.4% growth. The company anticipates a stable job environment on the West Coast for the second half of the year, with market rents expected to moderate consistent with normal seasonality. Essex raised its same-property revenue guidance by 15 basis points to 3.15%, while reducing its same-property expense midpoint by 50 basis points to 3.25%. The company also reported that investor appetite for West Coast multifamily properties remains healthy, with average cap rates in the mid-4% for institutional quality assets. Essex's capital strategy includes reducing their structured finance book to less than 4% of Core FFO by year-end, enhancing their balance sheet flexibility with new financing arrangements, and maintaining healthy net debt to EBITDA of 5.5x.

Core FFO Outperformance

Essex Property Trust exceeded the midpoint of their guidance range for Core FFO per share by $0.07 in the second quarter.

Same-Property Revenue Growth

The company raised the midpoint for same-property revenue growth by 15 basis points to 3.15% due to higher other income and better delinquency collections.

Successful Capital Allocation

Essex achieved NAV accretion by investing in Northern California properties with yields in the mid to high 4% range, ahead of cap rate compression.

Balance Sheet Enhancements

The company issued a $300 million delayed draw term loan at an attractive 4.1% rate and expanded its line of credit to $1.5 billion.

Essex Property (ESS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

ESS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	1.56 / -	1.84	―	―	―
Jul 29, 2025	2025 (Q2)	1.48 / 3.44	1.45	137.24% (+1.99)
Apr 29, 2025	2025 (Q1)	1.42 / 3.16	4.25	-25.65% (-1.09)
Feb 04, 2025	2024 (Q4)	1.36 / 4.00	1.02	292.16% (+2.98)
Oct 29, 2024	2024 (Q3)	1.35 / 1.84	1.36	35.29% (+0.48)
Jul 30, 2024	2024 (Q2)	1.33 / 1.45	1.55	-6.45% (-0.10)
Apr 30, 2024	2024 (Q1)	1.29 / 4.25	2.38	78.57% (+1.87)
Feb 06, 2024	2023 (Q4)	1.45 / 1.02	2.86	-64.34% (-1.84)
Oct 26, 2023	2023 (Q3)	1.42 / 1.36	1.43	-4.90% (-0.07)
Jul 27, 2023	2023 (Q2)	1.36 / 1.55	0.87	78.16% (+0.68)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ESS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$290.67	$268.46	-7.64%
Apr 29, 2025	$272.68	$276.64	+1.45%
Feb 04, 2025	$282.16	$290.66	+3.01%
Oct 29, 2024	$290.74	$286.44	-1.48%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Essex Property Trust (ESS) report earnings?

Essex Property Trust (ESS) is schdueled to report earning on Oct 22, 2025, After Close (Confirmed).

What is Essex Property Trust (ESS) earnings time?

Essex Property Trust (ESS) earnings time is at Oct 22, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is ESS EPS forecast?

ESS EPS forecast for the fiscal quarter 2025 (Q3) is 1.56.

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