Sovran Self Storage Earnings: Here’s Why Investors are Ambivalent Now

Sovran Self Storage Inc. (NYSE:SSS) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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Sovran Self Storage Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 9.33% to $0.82 in the quarter versus EPS of $0.75 in the year-earlier quarter.

Revenue: Rose 12.58% to $64.34 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Sovran Self Storage Inc. reported adjusted EPS income of $0.82 per share. By that measure, the company missed the mean analyst estimate of $0.83. It beat the average revenue estimate of $60.63 million.

Quoting Management: David Rogers, the Company’s CEO, commented, “We enjoyed another strong quarter. Occupancy levels grew even during our traditionally slowest season as a result of our web marketing initiatives, revenue management system and our focus on the customer experience. As we enter the peak rental season, we feel increasingly optimistic that 2013 should continue to be a prosperous one.”

Key Stats (on next page)…

Revenue increased 1.88% from $63.15 million in the previous quarter. EPS increased 6.49% from $0.77 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.88 and has not changed. For the current year, the average estimate is a profit of $3.51, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]