Extra Space Storage Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: EXR reported Q1 FY2026 revenue growth of 4.4% to $856.0M, but net income declined 11.0% to $241.0M as rising costs and higher depreciation compressed operating margin by 4.5 percentage points to 42.9%.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue increased 4.4% year-over-year to $856.0M in Q1 FY2026, but cost of revenue rose faster at 6.6% to $238.3M, squeezing gross profit and contributing to a 4.5 percentage point decline in operating margin from 47.4% to 42.9%.
Net income fell 11.0% year-over-year to $241.0M, with basic and diluted EPS both declining from $1.28 to $1.14 (-10.9%), reflecting both the margin compression and higher below-the-line costs relative to the prior year period.
Operating cash flow remained robust at $489.9M, up 1.8% year-over-year, supported by $185.8M in depreciation and amortization, indicating the business continues to generate strong cash despite reported earnings pressure.
Revenue
$856.03M
++4.39% YoY
EPS (Basic)
$1.14
-10.94% YoY
Operating Income
$367.55M
-5.45% YoY
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