The earnings call presented a balanced view with notable achievements in Core FFO outperformance and strategic acquisitions, particularly in Northern California. However, challenges in the Los Angeles market and anticipated seasonal rent moderation pose concerns. The successful capital allocation and improved balance sheet provide a solid foundation for future growth.

Company Guidance -

Q3 2025

In the Essex Property Trust's second quarter 2025 earnings call, the company provided updated guidance reflecting a $0.07 Core FFO outperformance and an increase in same property and Core FFO guidance for the year. The second quarter saw 3% blended rate growth across the same-store portfolio, with Northern California and Seattle achieving 3.8% and 3.7% growth, respectively. Southern California lagged at 2% growth, primarily due to challenges in Los Angeles. Notably, suburban markets like San Mateo and San Jose outperformed with 5.6% and 4.4% growth, respectively. The outlook for the second half anticipates modest U.S. GDP and job growth, with market rents expected to moderate in line with seasonal trends. The company raised its same-store revenue guidance and anticipates an average 35% decrease in multifamily supply deliveries. Essex also highlighted a healthy investor appetite for West Coast multifamily properties, with cap rates for institutional quality assets in the mid-4% range.

Core FFO Outperformance

Essex reported a $0.07 Core FFO outperformance in the second quarter, leading to an increase in same property and Core FFO guidance for the year.

Strong Performance in Northern California and Seattle

Suburban markets of San Mateo and San Jose reported 5.6% and 4.4% blended rate growth, respectively, attributed to limited housing supply and increased job growth.

Successful Capital Allocation and Acquisitions

Essex completed approximately $1 billion of acquisitions in Northern California, achieving yields in the mid to high 4% range and benefiting from cap rate compression.

Improved Balance Sheet Flexibility

Essex issued a $300 million delayed draw term loan, expanded its line of credit to $1.5 billion, and established a commercial paper program, enhancing balance sheet strength.

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)	1.53 / -	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 (ESS) report earnings?

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

What is Essex Property (ESS) earnings time?

Essex Property (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 1.54.

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