Extra Space Storage Inc. SEC 10-Q Report

Extra Space Storage Inc., a leading provider of self-storage solutions, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's robust financial performance and significant operational achievements, driven by strategic acquisitions and effective revenue management systems.

Financial Highlights

Extra Space Storage Inc. reported impressive financial results for the second quarter of 2025:

• Total Revenues: $841.6 million, an increase of 3.8% compared to the same period in 2024, driven by acquisitions and an increase in the number of stores operated.
• Net Income: $262.7 million, reflecting a significant increase from the previous year, attributed to higher revenues and effective cost management.
• Net Income Attributable to Common Stockholders: $249.7 million, up from $185.9 million in the prior year, indicating strong performance in core operations.
• Earnings Per Common Share - Basic: $1.18, compared to $0.88 in the previous year, showing improved profitability per share.
• Earnings Per Common Share - Diluted: $1.18, consistent with the basic EPS, reflecting no significant dilution effects.

Business Highlights

In addition to its financial success, Extra Space Storage Inc. achieved several key operational milestones:

• Revenue Segments: The company operates in two main segments: self-storage operations and tenant reinsurance. Self-storage operations generated $721,004,000 in revenue for the three months ended June 30, 2025, while tenant reinsurance contributed $88,572,000.
• Geographical Performance: The company owns or manages a total of 4,179 stores across 43 states and Washington, D.C. The largest concentration of stores is in Texas, with 537 stores totaling 43,094,288 net rentable square feet.
• Sales Units: As of June 30, 2025, approximately 2,465,000 tenants were leasing storage units, primarily on a month-to-month basis, providing flexibility to increase rental rates over time.
• New Production Launches: The company acquired 45 wholly-owned stores during the six months ended June 30, 2025, expanding its operational footprint.
• Future Outlook: Management anticipates continued growth in both self-storage operations and tenant reinsurance segments, leveraging its industry-leading revenue management systems to optimize rental rates and occupancy levels.

SEC Filing: Extra Space Storage Inc. [ EXR ] - 10-Q - Aug. 01, 2025