CubeSmart (NYSE:CUBE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
CubeSmart Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 23.53% to $0.21 in the quarter versus EPS of $0.17 in the year-earlier quarter.
Revenue: Rose 42.67% to $77.37 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CubeSmart reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.20. It beat the average revenue estimate of $73.17 million.
Quoting Management: “We saw accelerating operational performance throughout 2012,” commented Chief Executive Officer Dean Jernigan. “Importantly, we are positioned to maintain this fundamental momentum into 2013. With a high-quality team, property portfolio, operating platform, and balance sheet in place, all in the context of steady demand and limited new supply, we remain optimistic about our business.”
Key Stats (on next page)…