CubeSmart Earnings: Here’s Why Investors are Buying Shares Now
CubeSmart (NYSE:CUBE) delivered a profit and beat 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. Shares are up 2.94%.
CubeSmart Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 27.78% to $0.23 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 19.87% to $82.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CubeSmart reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.21. It beat the average revenue estimate of $78.91 million.
Quoting Management: CubeSmart Chief Executive Officer Dean Jernigan commented, “Self-storage industry fundamentals remain incredibly attractive and, combined with our deep and sophisticated platform, have supported the continuation of strong results for the Company.”
Key Stats (on next page)…