Essex Property Trust (ESS) Revenue — Quarter Ended Jun 30, 2024
Revenue declined in the most recent quarter, continuing a pattern of sequential decreases. The year-over-year comparison also showed a decline, reflecting persistent downward pressure on top-line performance.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue declined in the most recent quarter, continuing a pattern of sequential decreases. The year-over-year comparison also showed a decline, reflecting persistent downward pressure on top-line performance.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.6M
Revenue reported for this quarter.
Quarter-over-quarter
-5.2%
Change from the immediately preceding quarter.
Year-over-year
-7.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$10.9M
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 |
|---|---|---|
| Sep 30, 2023 | $2.8M | -3.5% |
| Dec 31, 2023 | $2.8M | -0.8% |
| Mar 31, 2024 | $2.7M | -1.9% |
| Jun 30, 2024 | $2.6M | -7.4% |
Revenue performance
Revenue was lower than both the immediately preceding quarter and the same quarter one year earlier, with the year-over-year decline larger than the sequential drop.
Quarterly comparison
Compared to the prior quarter, the rate of decline increased, and the year-over-year comparison showed a more pronounced contraction than the sequential trend.
What to watch
Given the sustained revenue decline, the company's cash and liquidity position, along with its ability to maintain operations, warrants attention.