Core Viewpoint - ESS Tech, Inc. is positioned to benefit from the growing demand for long-duration energy storage (LDES) solutions, particularly through its iron redox flow batteries, as the market begins to recover from previous challenges faced since its SPAC debut in late 2021 [2][9][15] Company Overview - ESS Tech, Inc. is a developer and manufacturer of iron redox flow batteries based in Wilsonville, Oregon, and is competing in the emerging long-duration energy storage market [2] - The company has experienced significant stock price fluctuations, with shares trading around $5 after a peak of $150 post-SPAC transaction [9] Market Demand and Trends - The demand for LDES is increasing, driven by the rapid expansion of AI data centers and the need for grid modernization [3] - Current grid-scale energy storage predominantly relies on short-duration lithium-ion batteries, which have limitations in long-duration energy storage [4][7] Technology Comparison - Iron redox flow batteries (IRFBs) are safer than lithium-ion batteries as they do not pose a fire risk, utilizing iron-laced saltwater for energy storage [5] - IRFBs are more cost-effective and abundant compared to vanadium-based flow batteries, making them a more attractive option for energy storage [6] Recent Developments - ESS announced a partnership with Honeywell in Q3 2023, which is expected to enhance project discussions and scalability of their flow battery solutions [10] - The company delivered six Energy Center products in Q4 2024, with more expected in Q1 2025, indicating a robust development pipeline [11][12] Financial Outlook - ESS is guiding for full-year 2024 revenues of approximately $10 million, with potential for significantly higher revenues in 2025 [13] - The company is set to announce its full-year earnings in March, which will provide insights into demand and sales pipeline strength [13] Future Potential - The long-duration energy storage market is anticipated to reach an inflection point, positioning ESS favorably due to the advantages of its iron redox flow batteries over competing technologies [14][15]

Financial Data and Key Metrics Changes - The company achieved same-property revenue growth of 3.3% and core FFO growth of 3.8%, both exceeding the high end of original guidance [6][14] - Fourth Quarter results were consistent with expectations, with a blended lease rate growth of 1.6% and concessions averaging one week for the same-store portfolio [7][15] - Cash delinquency improved to 60 basis points of scheduled rent on a cash basis, with bad debt reduced by over 50% from the previous year [15][132] Business Line Data and Key Metrics Changes - Orange County and Santa Clara County led the portfolio with 2.7% blended rate growth, while LA and Alameda counties lagged with only 20 basis points of blended rate growth [8] - Same-property revenue growth for LA is forecasted to improve to about 2% in 2025, recovering from challenges faced in 2024 [31] Market Data and Key Metrics Changes - The West Coast is expected to outperform the US average in job growth, particularly in the technology sector, with a forecast of 3% market rent growth [9][10] - Seattle and San Jose are projected to lead the portfolio with approximately 4% rent growth [10] Company Strategy and Development Direction - The company is focused on being creative and opportunistic to drive FFO and NAV per share growth for shareholders, with plans to acquire $1 billion in new apartment communities in 2025 [12][22] - The investment market saw a meaningful uptick in volume in 2024, reaching levels close to pre-COVID averages, despite rising interest rates [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic fundamentals on the West Coast, anticipating job growth to convert into new hires in 2025 [9][10] - The company is cautious about potential regulatory impacts in LA, including eviction moratoriums and rent freeze proposals, which could affect guidance [26][28] Other Important Information - The company expects same-property NOI growth of 2.7% at the midpoint for 2025, with operating expenses forecasted to grow by 3.75% [19][20] - The balance sheet remains strong with over $1 billion in liquidity and ample sources of available capital [23] Q&A Session Summary Question: Clarification on regulatory impacts in LA - Management acknowledged potential regulatory impacts, including an eviction moratorium and rent freeze proposals, which are not factored into guidance but could affect the downside scenario [26][28] Question: Renewal rate growth expectations - Management explained that renewal rates are expected to be around 3.5%, lower than last year's 4%, due to market conditions and the need to maximize revenues [35][36] Question: Insights on blended rate growth in the first and second half of the year - Management anticipates first-half blended rent growth around 2.75% and an increase to about 3.3% in the second half, driven by job growth and supply dynamics [39][40] Question: Urban versus suburban rent growth expectations - Management expects suburban areas to continue outperforming urban markets, citing the concentration of major companies in suburban locations [76][78] Question: Impact of immigration policy on demand - Management does not expect significant impacts from immigration policy changes, noting a steady demand due to a chronic housing shortage [90][91] Question: Contribution from non-same property NOI - Management clarified that the larger growth contribution from non-same property NOI is primarily due to acquisitions and consolidations made in 2024 [92][93]

Essex Property Trust Inc. (ESS) reported fourth-quarter 2024 core funds from operations (FFO) per share of $3.92, beating the Zacks Consensus Estimate of $3.90. The figure also improved 2.3% from the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results reflect favorable growth in same-property revenues and net operating income (NOI). ESS issued first-quarter and full-year 2025 guidance for core FFO per share.Total revenues of $454.5 million outpaced the Zacks Con ...

For the quarter ended December 2024, Essex Property Trust (ESS) reported revenue of $454.47 million, up 7.8% over the same period last year. EPS came in at $3.92, compared to $1.02 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $453.08 million, representing a surprise of +0.31%. The company delivered an EPS surprise of +0.51%, with the consensus EPS estimate being $3.90.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

分组1 - Essex Property Trust (ESS) reported quarterly funds from operations (FFO) of $3.92 per share, exceeding the Zacks Consensus Estimate of $3.90 per share, and up from $3.83 per share a year ago, representing an FFO surprise of 0.51% [1] - The company achieved revenues of $454.47 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.31%, compared to $421.75 million in the same quarter last year [2] - Over the last four quarters, Essex Property Trust has consistently exceeded consensus FFO and revenue estimates [2] 分组2 - The stock has underperformed the market, losing about 0.4% since the beginning of the year, while the S&P 500 has gained 1.9% [3] - The current consensus FFO estimate for the upcoming quarter is $3.93, with expected revenues of $457.62 million, and for the current fiscal year, the estimate is $15.99 on $1.86 billion in revenues [7] - The Zacks Industry Rank places the REIT and Equity Trust - Residential sector in the bottom 19% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Exhibit 99.1 FOURTH QUARTER 2024 EARNINGS RELEASE & SUPPLEMENTAL DATA Beaumont | Woodinville, WA Fourth Quarter 2024 Earnings Release and Supplemental Data | Table of Contents | | | --- | --- | | Earnings Press Release | Pages 1 - 8 | | Consolidated Operating Results | S-1 & S-2 | | Consolidated Funds from Operations | S-3 | | Consolidated Balance Sheets | S-4 | | Debt Summary | S-5 | | Capitalization Data, Public Bond Covenants, Credit Ratings and Selected Credit Ratios | S-6 | | Portfolio Summary by Count ...

SAN DIEGO, Jan. 27, 2025 /PRNewswire/ -- Robbins LLP informs investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired ESSA Pharma Inc. (NASDAQ: EPIX) securities between December 12, 2023 and October 31, 2024. ESSA is a clinical stage pharmaceutical company that focuses on the development of small molecule drugs for the treatment of prostate cancer. The Company's lead product candidate was masofaniten, which was in clinical trial in combination with e ...

Essex Property Trust (ESS) shares rallied 4.1% in the last trading session to close at $282.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.3% loss over the past four weeks.The increased investor optimism in the stock can be attributed to the recent announcement from BMO Capital Markets, where its research analyst upgraded the ESS rating to “Outperform” from “Market Perform.”This real estate investment ...

Essex Property Trust, Inc. (ESS) is well-poised to gain from a robust property base in the West Coast market with several demand drivers. Efforts to leverage technology, scale and organizational capabilities are expected to drive margin expansion. A healthy balance sheet augurs well. Solid dividends aid shareholder wealth.However, the rising supply of apartment units in some of the company’s markets is likely to fuel competition and curb pricing power. A concentrated portfolio and substantial debt burden re ...

Essex Property Trust, Inc. (ESS) is well-poised to gain from a robust property base in the West Coast market with several demand drivers. Efforts to leverage technology and a healthy balance sheet bode well. However, the elevated supply of rental units and a concentrated portfolio in certain markets are a concern.In October, Essex Property reported third-quarter 2024 core funds from operations (FFO) per share of $3.91, which beat the Zacks Consensus Estimate of $3.88. The figure improved 3.4% from the year- ...