Compared to Estimates, CubeSmart (CUBE) Q1 Earnings: A Look at Key Metrics
CubeSmart (CUBE) reported $256.53 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 7.5%. EPS of $0.65 for the same period compares to $0.17 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $258.64 million, representing a surprise of -0.82%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.65.
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 CubeSmart performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Property management fee income: $8.56 million compared to the $8.86 million average estimate based on four analysts. The reported number represents a change of +8.2% year over year.
Rental income: $223.58 million versus $226.98 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.3% change.
Other property related income: $24.38 million versus $24.40 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +9.4% change.
Net Earnings Per Share (Diluted): $0.43 compared to the $0.34 average estimate based on five analysts.
View all Key Company Metrics for CubeSmart here>>>
Shares of CubeSmart have returned +0.1% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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