CUBE Q1 2024 Earnings — CubeSmart Revenue & Financial Results | Market Cap Arena

CUBECubeSmart

$9B

Q1 2024 Earnings

Real Estate REIT - Industrial

Income Statement

Revenue

$261M+1.6% YoY

Gross Profit

$134M51.1% margin

Operating Income

$118M45.2% margin

Net Income

$95M36.2% margin

EPS (Diluted)

$0.42

QoQ Revenue Growth

-2.0%

Cash Flow

Operating Cash Flow

$150M

Free Cash Flow

$150M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$6.2B

Total Liabilities

$3.3B

Stockholders' Equity

$2.8B

Cash & Equivalents

$6M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$261M	$257M	+1.6%
Gross Profit	$134M	$186M	-28.2%
Operating Income	$118M	$172M	-31.2%
Net Income	$95M	$98M	-3.1%

Revenue Segments

Other Property Related Income

$26M73%

Property Management Fee Income

$10M27%