FX.co ★ Extra Storage Space Q2 Profit Declines

### Extra Space Storage Inc. Announces Second-Quarter Earnings Decline

Extra Space Storage Inc. (EXR) reported a decrease in second-quarter net income, down to $185.9 million, or $0.88 per share, compared to $202.4 million, or $1.50 per share, in the same period last year.

Analysts surveyed by Thomson Reuters anticipated earnings of $1.07 per share for the quarter.

Funds From Operations (FFO) amounted to $439.4 million, or $1.98 per share, compared to $296.02 million, or $2.06 per share, in the previous year.

The company's Core FFO was $457.7 million, or $2.06 per share, maintaining last year’s figure of $296.03 million, or $2.06 per share.

Revenues declined to $389.7 million from $452.6 million in the previous year.

Looking forward, Extra Space Storage projects Core FFO for fiscal year 2024 to range between $7.95 and $8.15 per share.