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Income Statement (USD)
Q2 '24 | QoQ | |
---|---|---|
Revenue | 811M | 1.4% |
Gross Profit | 614M | 3.1% |
Cost of Revenue | 197M | 3.7% |
Operating expense | 40M | 83.4% |
Net Income | 186M | 12.8% |
EBITDA | 401M | 27% |
Balance Sheet (USD)
Q2 '24 | QoQ | |
---|---|---|
Total Assets | 27.8B | 1% |
Total Liabilities | 12.6B | 3.6% |
Total Equity | 14.2B | 0.9% |
Shares Outstanding | 212M | 0.1% |
Cash Flow (USD)
Q2 '24 | QoQ | |
---|---|---|
Cash from operations | 545M | 17.1% |
Cash from investing | -483M | 71.1% |
Cash from financing | -36M | 84.4% |
EPS
Financial Highlights for Extra Space Storage in Q2 '24
Extra Space Storage reported a revenue of 811M, which is a 1.4% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 614M, marking a 3.1% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 197M, a -3.7% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 40M, showing a -83.4% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 186M, showing a -12.8% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 401M, showing a -27% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Extra Space Storage faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. A decline in EBITDA signals potential operational challenges or increased costs.