Essex Property Trust (ESS) Revenue — Quarter Ended Dec 31, 2023
Revenue for the quarter rose from the preceding quarter but fell relative to the same period one year earlier. The sequential increase contrasted with the year-over-year decline.
Key takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue for the quarter rose from the preceding quarter but fell relative to the same period one year earlier. The sequential increase contrasted with the year-over-year decline.
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
+0.6%
Change from the immediately preceding quarter.
Year-over-year
-0.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$11.1M
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 |
|---|---|---|
| Mar 31, 2023 | $2.8M | +2.8% |
| Jun 30, 2023 | $2.8M | +1.5% |
| Sep 30, 2023 | $2.8M | -3.5% |
| Dec 31, 2023 | $2.8M | -0.8% |
Revenue performance
The reported revenue increased compared to the immediately preceding quarter.
Quarterly comparison
When compared with the same quarter one year earlier, revenue declined, while the sequential quarter-over-quarter change was positive.
What to watch
The company's full-year average financial occupancy improved, a key operating metric noted in the filing.