Extra Space Storage Q1 FFO $1.96 Beats $1.82 Estimate, Sales $688.04M Miss $712.99M Estimate
Portfolio Pulse from Benzinga Newsdesk
Extra Space Storage (EXR) reported Q1 earnings of $1.96 per share, surpassing the $1.82 estimate, but sales of $688.04M fell short of the $712.99M forecast. This represents a 2.97% decrease in earnings per share and a 58.55% increase in sales compared to the same period last year.
April 30, 2024 | 9:22 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
EXR's Q1 earnings exceeded expectations at $1.96/share against an estimate of $1.82, but sales of $688.04M missed the $712.99M estimate. Earnings per share decreased by 2.97% YOY, while sales saw a significant increase of 58.55% from the previous year.
The mixed results from EXR, with earnings beating estimates but revenues missing expectations, could lead to a neutral short-term impact on the stock price. The decrease in earnings per share YOY might concern investors, but the significant increase in sales could offset these concerns. The overall market reaction could be tempered by the contrasting aspects of the report.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100