Extra Storage Space Q2 Profit Declines

(RTTNews) - Extra Space Storage Inc. (EXR), Tuesday announced a decline in its second-quarter profit to $185.9 million or $0.88 a share from $202.4 million or $1.50 a share last year.

Analysts, on average, polled by Thomson Reuters estimated earnings of $1.07 per share for the period.

FFO stood at $439.4 million or $1.98 a share versus $296.02 million or $2.06 a share in the previous year.

Core FFO was $457.7 million or $2.06 per share compared to last year's $296.03 million or $2.06 per share in the prior year.

Revenues were $389.7 million compared to last year's $452.6 million.

Looking ahead, the company expects Core FFO of $7.95 to $8.15 per share for the fiscal year 2024.