PSA Earnings Prediction
The chart below shows how PSA performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PSA sees a +1.69% change in stock price 10 days leading up to the earnings, and a +1.66% change 10 days following the report. On the earnings day itself, the stock moves by -0.02%. This data can give you a slight idea of what to expect for the next quarter's release.
PSA Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
1.19B
3.84%
1.24%
Gross Margin
49.31%
-8.46%
-1.75%
Operating Margin
47.11%
-8.38%
-1.69%
Net Margin
36.47%
-32.35%
-17.92%
EPS
2.16
-32.50%
-18.80%
No Data Available
PSA Earnings Analysis
Public Storage Corporation (PSA.N) Earnings Conference Call
Positive
Core FFO Resilience: 1. Core FFO Performance: Public Storage achieved core FFO of $4.20 per share, demonstrating resilience despite a 3% decline compared to last year, indicating strong operational fundamentals.
Move-In Rent Stabilization: 2. Improving Move-In Rents: Move-in rents decreased by only 9% year-over-year in Q3 and further improved to a 5% decline in October, showcasing a positive trend in pricing stabilization.
Digital Engagement Success: 3. Digital Engagement Growth: 75% of move-ins are now completed using eRental, reflecting the successful implementation of digital engagement strategies that enhance customer experience.
Customer Loyalty Stability: 4. Strong Customer Retention: Existing customers are exhibiting strong payment patterns, with move-outs down year-to-date, indicating a stable and loyal customer base.
Sustainability Commitment: 5. Sustainability Initiatives: Public Storage has reduced utility usage by 30% through LED lighting conversions and aims to install solar power at 1,300 properties by the end of 2025, highlighting commitment to sustainability.
Negative
Core FFO Decline: 1. Decline in Core FFO: Core FFO decreased by 3% year-over-year to $4.20 per share, indicating a negative trend in financial performance.
Same-Store Revenue Decline: 2. Same-Store Revenue Decline: Revenues in the same-store portfolio declined by 1.3% compared to last year, reflecting ongoing challenges in revenue generation.
Occupancy Rate Decline: 3. Occupancy Rate Decrease: Occupancy is down 90 basis points year-over-year, suggesting a weakening demand for storage units.
Move-In Rent Decline: 4. Move-In Rent Reductions: Move-in rents decreased by 9% year-over-year in Q3 and 5% in October, highlighting continued pricing pressure in the market.
Promotional Discount Strategy: 5. Increased Promotional Discounts: Promotional discounts rose to nearly 60% of customers in Q3, indicating a reliance on discounts to attract new customers amidst declining move-in rents.
PSA FAQs
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PSA Earning Call Sentiment
Public Storage (PSA) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
PSA.N
1.76%Positive
The earnings call summary and Q&A indicate mixed signals. Financial performance shows a decline in core FFO and same-store revenue, but there's optimism about stabilization and improvement in 2025. Incremental NOI outlook is positive, but higher G&A expenses and lower ancillary income are concerns. Revised guidance and shareholder repurchase are slightly positive. The Q&A highlights stabilization and digital channel success, but occupancy and move-in rents are down. Overall, the sentiment is neutral, with no strong factors to drive a significant stock price change.