NYSE$EXR

Extra Space Storage Inc · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

Extra Space Storage reported Q3 2025 total revenues of $858.5M with net income of $174.0M and diluted EPS of $0.78.

Total revenues were $858.5 million with net income of $174.0 million and diluted EPS of $0.78. Same-store occupancy and rate trends, plus joint-venture income, influenced REIT-level results.

  • Q3 total revenues $858.5M; net income $174.0M.
  • Diluted EPS $0.78; same-store trends drive core FFO narrative.
  • Self-storage demand tied to housing mobility and urban markets.
  • Balance sheet and JV structure affect reported net income.

Headline financials

Total Revenue

$858M

Previous: $825M+4.1%
EPS (adj)

$0.78

Previous: $0.91-14.3%
FFO per diluted share

$2.01

No prior period
Core FFO per diluted share

$2.08

No prior period
Same-store revenue growth

-0.2%

No prior period
Same-store NOI growth

-2.5%

No prior period
Ending same-store occupancy

93.7%

Previous: 93.6%+0.1%
Average same-store occupancy

94.1%

Previous: 93.8%+0.3%
Capital Expenditures

-$714M

Previous: -$477M-49.6%
Net Income

$166M

Previous: $193M-14.1%
Operating Income

$279M

Previous: $303M-7.8%

Revenue & EPS history

Extra Space · Revenue · Quarterly

$858M

Q3 2025+4.1%vs Q3 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Extra Space · $69.1M total across 1 segment · Q3 2023

  • Tenant reinsurance
    $69.1M+44.4%

Forward guidance

The release discusses Extra Space Storage's outlook, capital allocation, and key risks for upcoming quarters, including guidance ranges or operating priorities where disclosed.

Tailwinds

  • Occupancy, rents, and financing costs remain focal for investors.
  • Extra Space Storage cites demand and execution supporting the near-term outlook.
  • Liquidity and balance-sheet capacity support operations and shareholder returns.

Headwinds

  • Macro, input costs, and FX may pressure margins quarter to quarter.
  • Segment mix and one-time items can affect comparability versus prior periods.
  • Interest rates and refinancing activity affect REIT earnings.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+0.0%

Avg return

Earnings day

+0.1%

Avg return

5 days after

+1.1%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+12.0%

Q3 2023

Best reaction

-10.7%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.2%-1.2%+2.5%
Q4 2025+4.8%+0.5%-10.8%
Q3 2025-4.8%-7.3%-6.1%
Q1 2025+3.6%+5.6%+6.9%
Q4 2024-4.6%-4.5%-9.8%
Q3 2024-1.6%-3.8%+3.1%
Q2 2024-2.7%+0.6%+7.0%
Q1 2024+1.0%+3.3%+3.1%
Q4 2023-0.7%+3.0%+5.6%
Q3 2023+12.0%+12.6%+29.6%
Q2 2023-8.1%-5.9%-5.9%
Q1 2023-3.4%+1.5%-5.9%
Q4 2022+0.1%+2.1%-3.4%
Q3 2022-10.7%-13.3%-9.8%
Q2 2022+2.8%+4.3%+6.3%
Q1 2022+6.9%-0.7%-1.7%
Q4 2021+2.4%+1.5%+6.6%
Q3 2021+3.4%+5.2%+6.1%
Q2 2021+1.1%+2.0%+6.3%
Q1 2021-0.3%-1.1%+1.7%
Q4 2020+5.7%+5.1%+9.5%
Q3 2020-2.5%-8.5%-2.1%
Q2 2020+0.3%+1.8%+6.1%
Q1 2020+2.6%+7.0%+20.3%
Q4 2019-6.9%-5.4%-24.9%
Q3 2019-1.1%-0.8%-5.2%
Q2 2019+0.9%+3.1%+8.8%
Q1 2019+3.3%+3.5%+2.9%
Q4 2018-6.9%-5.7%+1.5%
Q3 2018-0.6%-3.7%+4.2%
Q2 2018-0.9%-1.4%-1.8%
Q1 2018-0.0%+2.9%+7.4%
Q4 2017-0.9%+5.4%+2.6%
Q3 2017+1.9%+5.4%+4.4%
Q2 2017-0.3%-2.2%-2.4%
Q1 2017-3.2%-4.0%-0.7%
Q4 2016+0.9%+2.9%-2.3%
Q3 2016-6.2%-2.8%-6.9%
Q2 2016-4.9%-4.2%-11.6%
Q1 2016+4.6%
Q4 2015-4.4%
Q3 2015-0.7%
Q2 2015+2.6%
Q1 2015-1.4%
Q4 2014+0.2%
Q3 2014-0.2%
Q2 2014-2.3%
Q1 2014+1.9%
Q4 2013+0.2%
Q3 2013-2.7%
Q2 2013+1.5%
Q1 2013+3.8%
Q4 2012-0.7%
Q3 2012+4.2%
Q2 2012+1.6%
Q1 2012-0.9%
Q4 2011+0.4%
Q3 2011+1.0%
Q2 2011+0.9%
Q1 2010+0.2%
Q1 2011-1.8%
Q4 2010+5.2%
Q4 2008+5.2%
Q3 2010-0.6%
Q3 2009-0.6%
Q2 2010+1.6%
Q2 2009+1.6%
Q4 2009+1.6%

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