Public Storage (PSA) Revenue — Quarter Ended Sep 30, 2024
Revenue increased from the prior quarter and continued to grow compared with the same period last year. The company maintained a positive trajectory despite a moderation in the pace of growth.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue increased from the prior quarter and continued to grow compared with the same period last year. The company maintained a positive trajectory despite a moderation in the pace of growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
+1.2%
Change from the immediately preceding quarter.
Year-over-year
+3.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.7B
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 |
|---|---|---|
| Dec 31, 2023 | $1.2B | +6.6% |
| Mar 31, 2024 | $1.2B | +5.8% |
| Jun 30, 2024 | $1.2B | +4.8% |
| Sep 30, 2024 | $1.2B | +3.8% |
Revenue performance
Sequential growth was supported by ongoing operations, while the year-over-year improvement reflected sustained demand across the portfolio.
Quarterly comparison
Compared with the preceding quarter, revenue showed a modest gain. On a year-over-year basis, the increase was more pronounced but still decelerated from earlier periods.
What to watch
Monitor the company's retained operating cash flow trend, which has been declining in recent years and may affect future capital allocation.