Extra Space Storage (EXR) reported $821.9 million in revenue for the quarter ended December 2024, representing a year-over-year increase of 3%. EPS of $2.03 for the same period compares to $1.02 a year ago.
The reported revenue represents a surprise of -1.16% over the Zacks Consensus Estimate of $831.54 million. With the consensus EPS estimate being $2.02, the EPS surprise was +0.50%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Extra Space Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Property rental: $707.23 million versus the five-analyst average estimate of $702 million. The reported number represents a year-over-year change of +1.5%.
- Management and franchise fees: $30.97 million versus the five-analyst average estimate of $30.05 million. The reported number represents a year-over-year change of +1.9%.
- Tenant insurance: $83.70 million compared to the $83.50 million average estimate based on four analysts. The reported number represents a change of +18.9% year over year.
- Net income (loss) per common share - Diluted: $1.24 versus the five-analyst average estimate of $1.08.
Shares of Extra Space Storage have returned +2% over the past month versus the Zacks S&P 500 composite's -1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
