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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 442M | 3.6% |
| Gross Profit | 342M | 79.4% |
| Cost of Revenue | 100M | 57.7% |
| Operating expense | 21M | 81.5% |
| Net Income | 93M | 65.9% |
| EBITDA | 297M | 36.6% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 12.5B | 2.9% |
| Total Liabilities | 6.82B | 4.3% |
| Total Equity | 5.48B | 1.2% |
| Shares Outstanding | 64M | 0% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 219M | 30.5% |
| Cash from investing | -225M | 43.4% |
| Cash from financing | -438M | 330.3% |
EPS
Financial Highlights for Essex Property Trust in Q2 '24
Essex Property Trust reported a revenue of 442M, which is a 3.6% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 342M, marking a 79.4% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 100M, a -57.7% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 21M, showing a -81.5% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 93M, showing a -65.9% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 297M, showing a -36.6% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Essex Property Trust faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. A decline in EBITDA signals potential operational challenges or increased costs.
