Extra Space Storage (EXR) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter was slightly lower than the prior quarter, extending a pattern of high year-over-year growth. The sequential decline contrasts with a substantial increase compared to the same quarter a year ago.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter was slightly lower than the prior quarter, extending a pattern of high year-over-year growth. The sequential decline contrasts with a substantial increase compared to the same quarter a year ago.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$30.1M
Revenue reported for this quarter.
Quarter-over-quarter
-0.8%
Change from the immediately preceding quarter.
Year-over-year
+41.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$110.8M
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $22.2M | +8.2% |
| Sep 30, 2023 | $28M | +26.0% |
| Dec 31, 2023 | $30.4M | +43.4% |
| Mar 31, 2024 | $30.1M | +41.0% |
Revenue performance
Quarterly revenue decreased modestly compared to the immediately preceding quarter. The year-over-year comparison, however, showed a very strong increase.
Quarterly comparison
While revenue fell slightly from the prior quarter, it rose significantly from the same quarter one year earlier. The trailing twelve-month revenue figure reflects the cumulative effect of multiple quarters of elevated year-over-year gains.
What to watch
The sequential revenue decline after several quarters of strong year-over-year growth may warrant monitoring.