earnings
confidence high
sentiment neutral
materiality 0.75
EXR Q2 net income $1.18/share (+34% YoY); Core FFO $2.05 (-0.5%); same-store NOI down 3.1%
Extra Space Storage Inc.
2025-Q2 EPS reported
$2.45
revenue$1,661,615,000
- Net income $249.7M, diluted EPS $1.18 vs $0.88 YoY; Core FFO $454.9M ($2.05/share).
- Same-store revenue flat; NOI fell 3.1% YoY; property taxes rose 19.2%; occupancy 94.6%.
- Bought out JV partners for $326.4M, wholly owning 27 properties; acquired 1 store for $12.1M.
- Managed store count reached 2,163 (1,749 third-party); bridge loan originations $157.8M.
- Maintained 2025 Core FFO guidance $8.05-$8.25; same-store NOI growth -2.75% to 0.0%.