Empire State Realty Trust, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 9, 2026, reporting a nine-month net loss driven in part by a $166.1 million goodwill impairment charge.

Key Highlights

  • Goodwill impairment: The company recorded a goodwill impairment charge of $166,113 thousand for the nine months ended September 30, 2026, with no comparable charge in the prior-year period.
  • Nine-month net loss: Net loss for the nine months ended September 30, 2026 was $30,664 thousand, compared to net income of $40,808 thousand for the same period in 2025.
  • Q3 net income: For the three months ended September 30, 2026, net income was $5,895 thousand, versus $13,645 thousand in Q3 2025.
  • Gain on property disposition: The company reported a gain on disposition of property of $123,497 thousand for the nine months ended September 30, 2026, compared to $13,170 thousand in the prior-year period.
  • Total revenues: Total revenues for the nine months ended September 30, 2026 were $580,277 thousand, up from $569,046 thousand for the same period in 2025.
  • Observatory revenue decline: Observatory revenue fell to $69,543 thousand for the nine months ended September 30, 2026, from $93,097 thousand in the comparable 2025 period.
  • Share count: As of November 6, 2026, there were 157,394,999 shares of Class A Common Stock and 960,759 shares of Class B Common Stock outstanding.

Empire State Realty Trust Reports Nine-Month Loss Amid Impairment and Property Activity

According to the filing, Empire State Realty Trust, Inc. (NYSE:ESRT) reported a net loss of $30,664 thousand for the nine months ended September 30, 2026, a significant reversal from the $40,808 thousand net income recorded in the same period of 2025. The company disclosed a goodwill impairment charge of $166,113 thousand in the nine-month period, which weighed heavily on operating results. Total operating expenses for the nine months reached $653,722 thousand, compared to $468,803 thousand in the prior-year period, with the impairment charge accounting for the majority of the increase. Total operating loss for the nine months was $73,445 thousand, against operating income of $100,243 thousand a year earlier.

The filing reported that total revenues for the nine months ended September 30, 2026 were $580,277 thousand, up from $569,046 thousand for the nine months ended September 30, 2025. Rental revenue increased to $493,237 thousand from $466,492 thousand, while Observatory revenue declined to $69,543 thousand from $93,097 thousand. For the third quarter alone, total revenues were $193,053 thousand, compared to $197,730 thousand in Q3 2025. The company recorded a gain on disposition of property of $123,497 thousand for the nine-month period, versus $13,170 thousand in the same period of 2025. Interest expense for the nine months was $83,825 thousand, up from $77,253 thousand in the prior-year period.

On the balance sheet, total assets as of September 30, 2026 were $4,237,938 thousand, down from $4,468,961 thousand at December 31, 2025. Real estate properties, net, stood at $3,061,597 thousand, while goodwill declined to $325,366 thousand from $491,479 thousand. Total liabilities were $2,458,037 thousand and total equity was $1,779,901 thousand. Basic and diluted earnings per share attributable to common stockholders for the nine months ended September 30, 2026 were each $(0.13), compared to $0.14 for the same period in 2025. Dividends per share for the nine-month period were $0.105, unchanged from the prior-year period.

What Was Disclosed

Empire State Realty Trust filed its quarterly report covering the period ended September 30, 2026, disclosing a nine-month net loss of $30,664 thousand, a $166,113 thousand goodwill impairment charge, a $123,497 thousand gain on property dispositions, and declining Observatory revenue compared to 2025.