Elme Communities (ELME) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Elm Community's first quarter 2025 earnings conference call. As a reminder, today's call is being recorded and at this time I would like to turn the call over to Amy Hopkins, Vice President, Investor Relations. Amy, please go ahead. Good morning and thank you for joining our first quarter earnings call. Today's call will be available for replay on the investors section of our websites. Statements made during this call may constitute forward-looking statements that involve known and unknown risks and uncertainties, which may cause actual results to differ materially, and we undertake no duty to update them as actual events unfold. We refer to certain of these risks in our SEC filings. Reconciliations of the GAAP and non-GAAP financial measures discussed on this call are available in our most recent earnings press release and financial supplement, which was distributed yesterday and can be found on the Investors page of our website. Presenting on the call today will be Paul McDermott, our CEO, Tiffany Butcher, our COO, and Steve Freistadt, our CFO. And with that, I will turn the call over to Paul. Thanks, Amy. Welcome, everyone, and thank you for joining us this morning. We kicked off the year with strong momentum as both same-store revenue and NOI came in ahead of our expectations, and the trends we are seeing as we enter peak leasing season are encouraging. I'll start today's call by highlighting what we're seeing on the ground here in the DMV and how we're positioned as regional employment trends evolve. Tiffany will provide a more detailed update on our operating trends, and Steve will discuss our outlook for 2025. While the new administration continues to work to streamline the federal workforce, the fundamentals that we are seeing acro...