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Public Storage (PSA) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Public Storage (PSA) reported $1.09 billion in revenue for the quarter ended December 2022, representing a year-over-year increase of 17.8%. EPS of $4.16 for the same period compares to $3.17 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.08 billion, representing a surprise of +0.87%. The company delivered an EPS surprise of +4.26%, with the consensus EPS estimate being $3.99.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Public Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Ancillary operations: $60.19 million compared to the $58.54 million average estimate based on three analysts. The reported number represents a change of +10.2% year over year.

  • Revenues- Self-storage facilities: $1.03 billion versus $1.01 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +18.2% change.

  • Net Earnings Per Share (Diluted): $2.06 compared to the $2.77 average estimate based on four analysts.

  • Interest and other income: $14.17 million versus $10.47 million estimated by three analysts on average.

View all Key Company Metrics for Public Storage here>>>

Shares of Public Storage have returned +2.8% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research