Essex Property Trust (ESS) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter was lower than the immediately preceding quarter but higher than the same quarter one year earlier. The sequential decline marks a reversal from the prior quarter’s growth.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter was lower than the immediately preceding quarter but higher than the same quarter one year earlier. The sequential decline marks a reversal from the prior quarter’s growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.8M
Revenue reported for this quarter.
Quarter-over-quarter
-2.2%
Change from the immediately preceding quarter.
Year-over-year
+2.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$11.2M
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $2.7M | +23.3% |
| Sep 30, 2022 | $2.9M | +29.0% |
| Dec 31, 2022 | $2.8M | +16.2% |
| Mar 31, 2023 | $2.8M | +2.8% |
Revenue performance
Reported revenue decreased compared to the prior quarter, indicating a pullback from the level achieved in the previous period.
Quarterly comparison
Compared to the same quarter last year, revenue was higher; however, relative to the immediately preceding quarter, revenue was lower.
What to watch
Monitor whether the sequential decline continues or reverses in the next quarter.