Revenue and Gross Margin Stability
Revenue grew by 4.1% year-over-year to $489.05M in Q2 FY2026 compared to $469.83M in Q2 FY2025, while gross margin remained flat at 70.69% compared to 70.70% in the prior year period.
ESSEX PROPERTY TRUST, INC. is expected to release its Q3 2026 10-Q filing on October 27, 2026, after market close. Last quarter: For Q2 FY2026, ESS achieved modest revenue growth of 4.1% year-over-year to $489.05M, but operating income fell 60.9% to $109.37M due to a sharp compression in operating margins.
EPS Estimate
$1.44
Revenue Estimate
$494.66M
Analyst consensus from Finnhub. Actual results posted within minutes of the SEC filing on the ESS page.
Drawn from management commentary in the Q2 2026 10-Q:
Revenue grew by 4.1% year-over-year to $489.05M in Q2 FY2026 compared to $469.83M in Q2 FY2025, while gross margin remained flat at 70.69% compared to 70.70% in the prior year period.
Operating income experienced a steep decline of 60.9% year-over-year to $109.37M, causing operating margin to contract by 37.2 percentage points from 59.53% to 22.36% due to higher operating expenses.
Year-to-date operating cash flow expanded by 8.8% to $541.23M compared to $497.63M in the prior year period, even as financing cash outflows accelerated to $517.84M YTD.
Revenue
$489.05M
+4.09% YoY
EPS (Diluted)
$0.97
-71.80% YoY
Gross Margin
70.7%
-0.0 pts YoY
Operating Income
$109.37M
-60.90% YoY
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