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Public Storage (PSA) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Public Storage (PSA - Free Report) reported revenue of $1.14 billion, up 5.1% over the same period last year. EPS came in at $4.33, compared to $14.85 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.14 billion, representing a surprise of +0.47%. The company delivered an EPS surprise of +2.85%, with the consensus EPS estimate being $4.21.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Public Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Self-storage facilities: $1.08 billion versus $1.07 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
Revenues- Ancillary operations: $65.10 million compared to the $64.47 million average estimate based on five analysts. The reported number represents a change of +7.2% year over year.
Net Earnings Per Share (Diluted): $3.20 compared to the $2.84 average estimate based on seven analysts.
Interest and other income: $32.30 million compared to the $17.62 million average estimate based on six analysts.
Equity in earnings of unconsolidated real estate entities: $7.23 million versus the five-analyst average estimate of $9.93 million.
Shares of Public Storage have returned -9.5% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Public Storage (PSA) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Public Storage (PSA - Free Report) reported revenue of $1.14 billion, up 5.1% over the same period last year. EPS came in at $4.33, compared to $14.85 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.14 billion, representing a surprise of +0.47%. The company delivered an EPS surprise of +2.85%, with the consensus EPS estimate being $4.21.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Public Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Self-storage facilities: $1.08 billion versus $1.07 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
- Revenues- Ancillary operations: $65.10 million compared to the $64.47 million average estimate based on five analysts. The reported number represents a change of +7.2% year over year.
- Net Earnings Per Share (Diluted): $3.20 compared to the $2.84 average estimate based on seven analysts.
- Interest and other income: $32.30 million compared to the $17.62 million average estimate based on six analysts.
- Equity in earnings of unconsolidated real estate entities: $7.23 million versus the five-analyst average estimate of $9.93 million.
View all Key Company Metrics for Public Storage here>>>Shares of Public Storage have returned -9.5% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.