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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Extra Space Storage (EXR) is 5/10.
Extra Space posted Q1 2026 core FFO of $2.04, up 2%, with same-store revenue growth accelerating to 1.7% and exceeding internal projections. The new customer rate metric was changed to a per-square-foot basis showing Q1 averaging +2.5%, and broad-based revenue improvement was driven by declining new supply. Management maintained FY2026 guidance at $8.05-$8.35 despite the Q1 beat, explicitly waiting for leasing season confirmation, while the third-party management platform reached 1,916 stores.
Scored from Extra Space Storage’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
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On August 24, 2026, Extra Space Storage announced that Chief Executive Officer Joseph D. Margolis will retire effective December 31, 2026. Current President W. Noah Springer, 47, was selected to succeed him as CEO and will join the board beginning January 1, 2027. Margolis will remain a director through December 31, 2026 and then serve as an advisor to the board.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $841M | +3.3% | $1.24 | +26.5% | 45.2% | 31.2% | $403M |
| FY2025 Q1 | $840M | +3.1% | $1.28 | +26.7% | 46.3% | 32.2% | $477M |
| FY2025 Q2 | $842M | +1.7% | $1.18 | +34.1% | 44.4% | 29.7% | $540M |
| FY2025 Q3 | $778M | -9.0% | $0.78 | -14.3% | 35.9% | 21.9% | $466M |
| FY2025 Q4 | $918M | +9.3% | $1.30 | +4.8% | 48.7% | 30.9% | $362M |
| FY2026 Q1 | $856M | +1.9% | $1.14 | -10.9% | 42.9% | 28.2% | $386M |
| FY2026 Q2 | $874M | +3.9% | $1.25 | +5.9% | 44.9% | 30.1% | — |