CUBE Q2 2023 Earnings — CubeSmart Revenue & Financial Results | Market Cap Arena

CUBECubeSmart

$9B

Q2 2023 Earnings

Real Estate REIT - Industrial

Income Statement

Revenue

$262M+4.9% YoY

Gross Profit

$187M71.4% margin

Operating Income

$172M65.9% margin

Net Income

$98M37.4% margin

EPS (Diluted)

$0.43

QoQ Revenue Growth

+1.6%

Cash Flow

Operating Cash Flow

$162M

Free Cash Flow

$162M

Stock-Based Comp.

$2M

Balance Sheet

Total Assets

$6.3B

Total Liabilities

$3.4B

Stockholders' Equity

$2.8B

Cash & Equivalents

$9M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$262M	$249M	+4.9%
Gross Profit	$187M	$176M	+6.2%
Operating Income	$172M	$162M	+6.4%
Net Income	$98M	$58M	+67.7%

Revenue Segments

Other Property Related Income

$26M74%

Property Management Fee Income

$9M26%