Extra Space Storage Q2 2024 FFO $2.06 Beats $2.00 Estimate, Sales $697.100M Miss $728.755M Estimate
Portfolio Pulse from Benzinga Newsdesk
Extra Space Storage (NYSE:EXR) reported Q2 2024 earnings per share (EPS) of $2.06, beating the analyst estimate of $2.00. However, the company's sales of $697.1 million missed the estimate of $728.755 million. Despite the miss, sales increased by 58.16% compared to the same period last year.
July 30, 2024 | 8:16 pm
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Extra Space Storage (NYSE:EXR) reported Q2 2024 EPS of $2.06, beating the analyst estimate of $2.00. However, the company's sales of $697.1 million missed the estimate of $728.755 million. Despite the miss, sales increased by 58.16% compared to the same period last year.
The EPS beat is a positive indicator, but the sales miss could offset some of the optimism. The significant year-over-year sales increase is a strong positive, but the mixed results may lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100