EXR Latest Report

Financial Performance

Extra Space Storage (Ticker: EXR) reported total operating revenue of $822 million as of December 31, 2024, up approximately 3.88% from $798 million as of December 31, 2023. This growth indicates positive progress in the company's operating revenue, possibly related to increased market demand and its expansion strategy.

Key Financial Data

1. Operating revenue in 2024 was $822 million, up 3.88% YoY.

2. Property rental income in the first three quarters of 2024 reached $71,087.4 million, up approximately 9.2% YoY.

3. Total revenue in the first three quarters of 2024 was $209,601.8 million, up 37.4% YoY.

4. The gross margin in the first three quarters of 2024 increased by 25.99 percentage points YoY.

5. Net profit grew 208.44% YoY in the first three quarters of 2024.

Industry Comparison

1. Overall industry analysis: The storage industry as a whole is driven by urbanization and increased space management needs, with a general upward trend in operating revenue. The storage market is expected to reach $125 billion in 2024, indicating a positive industry outlook.

2. Peer evaluation analysis: Extra Space Storage's 3.88% revenue growth rate is at a high level in the industry. Many competitors' revenue growth rates are between 2%-3%, showing EXR's competitive advantage in the market, possibly due to its brand influence and effective market strategy.

Summary

Extra Space Storage's revenue growth mainly benefits from increased market demand, effective operational management, and rental price increases. The company demonstrates good growth potential and competitiveness in the context of the storage industry's recovery.

Opportunities

1. With the rebound in the storage market, Extra Space Storage can further expand its market share.

2. Technology upgrades and product innovations may bring new revenue growth points for the company.

3. The company can further enhance gross margin and net profit by increasing R&D investment.

Risks

1. Intensified competition in the storage industry may lead to price wars and profit compression.

2. Economic fluctuations and uncertain market demand may affect the company's revenue stability.

3. Increased operating expenses may affect overall operational efficiency and profitability.