Extra Space Storage (EXR) Reports Q1 Earnings: What Key Metrics Have to Say

Core Insights - Extra Space Storage (EXR) reported revenue of $820 million for Q1 2025, reflecting a 2.6% increase year-over-year, but a slight miss of 0.42% against the Zacks Consensus Estimate of$ 823.42 million [1] - Earnings per share (EPS) for the quarter was $2.00, up from$ 1.10 in the same quarter last year, exceeding the consensus estimate of $1.96 by 2.04% [1] Financial Performance Metrics - Same-store square foot occupancy was reported at 93.4%, slightly below the estimated 93.9% [4] - Property rental revenue reached$ 704.38 million, surpassing the average estimate of $702.06 million, with a year-over-year increase of 2.4% [4] - Management and franchise fees totaled$ 30.91 million, slightly below the average estimate of $31.32 million, marking a year-over-year increase of 2.5% [4] - Tenant insurance revenue was$ 84.71 million, compared to the average estimate of $85.58 million, reflecting a year-over-year change of 4.1% [4] - Same-store rental revenue was reported at$ 659.74 million, significantly exceeding the average estimate of $407.10 million, with a remarkable year-over-year increase of 59.1% [4] - Diluted net income per common share was$ 1.28, above the estimated $1.05 [4] Stock Performance - Over the past month, shares of Extra Space Storage have returned -4.4%, compared to a -0.8% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]