CubeSmart (NYSE:CUBE) delivered a profit and met 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 25% to $0.20 in the quarter versus EPS of $0.16 in the year-earlier quarter.
Revenue: Rose 18.35% to $78.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CubeSmart reported adjusted EPS income of $0.20 per share. By that measure, the company met the mean analyst estimate of $0.20. It beat the average revenue estimate of $75.72 million.
Quoting Management: “We have maintained the operational momentum that we experienced throughout 2012 and have produced very significant year-over-year gains in occupancy and revenue,” commented CubeSmart Chief Executive Officer Dean Jernigan. “We are clearly seeing signs of increased demand across the self-storage sector and are benefiting disproportionately due to our robust operating platform.”
Key Stats (on next page)…