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Mar 31, 2020
Empire State Realty Trust Q1 2020 Earnings Report
Reported a net income of $8.288 million and net operating income of $88.671 million for the quarter ended March 31, 2020.
Key Takeaways
Empire State Realty Trust reported a net income of $8.288 million and a net operating income of $88.671 million for the quarter ended March 31, 2020. The company's cash revenues totaled $562.399 million for the twelve months ended March 31, 2020.
Net income for the quarter was $8.288 million.
Net operating income reached $88.671 million for the quarter.
Total cash revenues for the twelve months ended March 31, 2020, amounted to $562.399 million.
Rental revenue for the twelve months ended March 31, 2020, was $515.079 million.
Forward Guidance
The company provided forward-looking statements that are subject to risks and uncertainties, particularly related to the impact of the COVID-19 pandemic and other factors detailed in their SEC filings.
Challenges Ahead
- Economic, political, and social impacts of the COVID-19 pandemic.
- Potential ineffectiveness of governmental relief programs.
- Duration of social distancing orders and recovery speed of tenant revenues.
- Impact on tenants' ability to meet rent obligations.
- Disruption of travel and tourism affecting Observatory visitors.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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