Empire State Realty Trust Inc. (NYSE:ESRT) Q3 2023 Results Conference Call October 26, 2023 12:00 PM ET

Company Participants

Katy Malonoski - VP and Head of Investor Relations

Anthony Malkin - Chairman, President and CEO

Tom Durels - Executive Vice President of Real Estate

Christina Chiu - Executive VP, COO and CFO Financial & Investment Officer

Conference Call Participants

Steve Sakwa - Evercore

Michael Griffin - Citi

John Kim - BMO Capital Markets

Camille Bonnel - Bank of America

Blaine Heck - Wells Fargo

Dylan Burzinski - Green Street

Operator

Greetings, and welcome to the Empire State Realty Trust Third Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce Katy Malonoski, Vice President of Investor Relations. Thank you. You may begin.

Katy Malonoski

Good afternoon. Thank you for joining us today for Empire State Realty Trust's Third Quarter 2023 Earnings Conference Call. In addition to the press release distributed yesterday, a quarterly supplemental package with further detail on our results and our latest investor presentation were posted in the Investors section of the company's website at esrtreit.com.

On today's call, management's prepared remarks and answers to your questions may contain forward-looking statements as defined in applicable securities laws, including those related to market conditions, property operations, capital expenditures, income expense, financial results and proposed transactions and events. As a reminder, forward-looking statements represent management's current estimates. They are subject to risks and uncertainties, which may cause actual results to differ from those discussed today. Empire State Realty Trust assumes no obligation to update any forward-looking statements in the future. We encourage listeners to review the more detailed discussions related to those forward-looking statements in the company's filings with the SEC.

During today's call, we will discuss certain non-GAAP financial measures, such as FFO, modified and core FFO, NOI, same-store property cash NOI, EBITDA and adjusted EBITDA, which we believe are meaningful in evaluating the company's performance. The definitions and reconciliations of these measures to the most directly comparable GAAP measures are included in the earnings release and supplemental package, each available on the company's website.

And now I will turn the call over to Tony Malkin, our Chairman, President and Chief Executive Officer.

Anthony Malkin

Thanks, Katy, and good afternoon to everyone. We continue our efforts to educate the market that ESRT is a top-tier destination for tenants flight to quality today. We are not B properties. We are top of our tier and our accessible price range, and we continue to capture market share. We can think of no better way to inform than to continue to put points on the board. So we are pleased to report a third quarter of strong performance in 2023.