CUBE Q1 2023 Earnings — CubeSmart Revenue & Financial Results | Market Cap Arena

CUBECubeSmart

$9B

Q1 2023 Earnings

Real Estate REIT - Industrial

Income Statement

Revenue

$257M+7.7% YoY

Gross Profit

$186M72.4% margin

Operating Income

$172M66.7% margin

Net Income

$98M37.9% margin

EPS (Diluted)

$0.43

QoQ Revenue Growth

-1.9%

Cash Flow

Operating Cash Flow

$137M

Free Cash Flow

$137M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$6.3B

Total Liabilities

$3.4B

Stockholders' Equity

$2.8B

Cash & Equivalents

$6M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$257M	$239M	+7.7%
Gross Profit	$186M	$168M	+10.7%
Operating Income	$172M	$154M	+11.6%
Net Income	$98M	$38M	+155.7%

Revenue Segments

Other Property Related Income

$24M74%

Property Management Fee Income

$9M26%