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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Essex Property Trust (ESS) is 5/10.
Essex reported Q1 2026 core FFO exceeding the high end of guidance by $0.11 on both revenue and expense beats, with same-property revenue growing 2.9%, 50 basis points ahead of plan. Northern California was the best-performing region with 3.2% Q1 blended rates and affordability runway, while Seattle flipped positive in March after a slow start. The structured finance headwind was effectively completed, and management reaffirmed guidance citing macro uncertainty, while pivoting to share buybacks at an attractive $243.76 average price.
Scored from Essex Property Trust’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $454M | +7.8% | $4.01 | +293.1% | 14.4% | 67.0% | 56.6% | $179M |
| FY2025 Q1 | $478M | +8.8% | $3.16 | -25.6% | 68.4% | 53.8% | 42.5% | $254M |
| FY2025 Q2 | $470M | +6.2% | $3.44 | +137.2% | 68.6% | 59.5% | 47.1% | $180M |
| FY2025 Q3 | $473M | +2.4% | $2.56 | +39.1% | 69.7% | 32.1% | 34.8% | $306M |
| FY2025 Q4 | $480M | +5.5% | $1.25 | -68.8% | 68.6% | 30.3% | 17.4% | $195M |
| FY2026 Q1 | $485M | +1.5% | $1.65 | -47.8% | 70.9% | 32.0% | 21.9% | $267M |
| FY2026 Q2 | $489M | +4.1% | $0.97 | -71.8% | 71.2% | 22.4% | 12.8% | $-267M |