CUBE Earnings Prediction
The chart below shows how CUBE performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CUBE sees a +2.16% change in stock price 10 days leading up to the earnings, and a +1.53% change 10 days following the report. On the earnings day itself, the stock moves by +0.72%. This data can give you a slight idea of what to expect for the next quarter's release.
CUBE Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
270.89M
1.13%
1.76%
Gross Margin
50.87%
-2.90%
2.52%
Operating Margin
45.61%
-3.25%
3.38%
Net Margin
37.27%
-3.14%
5.34%
EPS
0.44
-2.22%
7.32%
No Data Available
CUBE Earnings Analysis
CubeSmart Corporation (CUBE.N) Earnings Conference Call
Positive
Third Quarter Performance: The company reported a solid third quarter, with store performance in line with expectations, demonstrating resilience in a competitive market.
Customer Loyalty Indicators: Customer retention metrics showed elevated lengths of stay and credit metrics consistent with historical norms, indicating strong customer loyalty.
Urban Rental Demand Surge: The New York MSA significantly outperformed, with year-over-year rental increases of 7.4%, showcasing robust demand in key urban markets.
Store Expansion Efforts: The company added 24 stores to its platform, bringing the total to 893 stores under management, reflecting continued growth and expansion efforts.
Equity Program Capital Raise: The company raised $32.8 million under its at-the-market equity program during the quarter, providing additional capital for growth initiatives.
Negative
Same-Store Revenue Decline: Same-store revenues declined 0.8% compared to last year, with average occupancy for our same-store portfolio down about 120 basis points to 90.8%.
Operating Expense Increase: Same-store operating expenses grew 5.3% over last year, driven by continued pressure on property insurance, but the biggest driver of expense growth during the quarter was on the marketing line item.
FFO Per Share Guidance: We reported FF0 per share as adjusted of $0.67 for the quarter which was at the midpoint of our guidance range.
Negative Churning Gap: The churning gap was negative 27.4%.
Same-Store Revenue Trends: We have seen a continued decline in same-store revenue growth, with the New York MSA generating our second highest growth within our major markets, led by the Bronx at 6.6%, followed by Brooklyn at 5.8%, and again, weighed down a bit by our Northern New Jersey lagging at negative 1.1%.
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CUBE Earning Call Sentiment
CubeSmart (CUBE) Q3 2024 Earnings Call Transcript
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CUBE.N
0.24%Positive
The earnings call revealed several concerning factors: a decline in average occupancy, increased operating expenses, negative same-store NOI growth, and a negative churn gap. Although management expressed some optimism, the lack of clear guidance on transaction markets and the impact of supply in 2024 adds uncertainty. The Q&A highlighted challenges in demand and competition, with no significant positive catalysts to offset these issues. Overall, the sentiment is negative, with the potential for a stock price decline.
