The earnings call highlighted improvements in occupancy and RevPar growth, along with advancements in technology and successful property dispositions. However, these are overshadowed by a decline in core FFO and same-store NOI, increased expenses, and challenges related to pro internalization and concessions. The overall sentiment reflects a balanced perspective with both achievements and ongoing challenges.

Company Guidance

During the second quarter of 2025, National Storage Affiliates Trust (NSA) faced several challenges impacting their financial performance, leading to adjustments in their guidance. Core FFO per share declined by 11% year-over-year to $0.55, driven by a 3% decrease in same-store revenues, a 240 basis point drop in average occupancy, and a 30 basis point decrease in average revenue per square foot. Expenses grew by 4.6%, with significant increases in property taxes, marketing, and repair and maintenance costs. NSA's guidance for 2025 was updated to reflect these challenges, with same-store revenue growth expected to be between negative 2% to 3%, same-store NOI growth between negative 4.25% to 5.75%, and core FFO per share between $2.17 to $2.23. Despite the headwinds, NSA remains optimistic about future prospects, citing improvements in occupancy, a decline in new supply, and positive trends in certain markets.

Occupancy Improvement

Occupancy increased 140 basis points sequentially during the second quarter to finish at 85% and further increased in July to 85.3%.

RevPar Growth

RevPar has grown for 5 consecutive months ending July with the year-over-year delta improving from down 4.2% in February to down 1.6% in July.

Technology and Marketing Advances

The use of AI in call centers now handles 15% of total incoming call volume. Enhanced marketing strategies have led to improved top-of-the-funnel demand.

Successful Property Dispositions

Sold 10 properties in non-core markets and used net proceeds of $40 million to pay down the revolver.

Strong Portland Market Performance

Portland market shows a positive same-store revenue growth after overcoming a period of oversupply.

National Storage Affiliates (NSA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

NSA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.18 / -	0.18	―	―	―
Aug 04, 2025	2025 (Q2)	0.21 / 0.19	0.16	18.75% (+0.03)	―
May 05, 2025	2025 (Q1)	0.16 / 0.10	0.65	-84.62% (-0.55)	―
Feb 26, 2025	2024 (Q4)	0.12 / 0.15	0.72	-79.17% (-0.57)	―
Oct 30, 2024	2024 (Q3)	0.03 / 0.18	0.26	-30.77% (-0.08)	―
Aug 05, 2024	2024 (Q2)	-0.08 / 0.16	0.28	-42.86% (-0.12)	―
May 01, 2024	2024 (Q1)	0.17 / 0.65	0.24	170.83% (+0.41)	―
Feb 28, 2024	2023 (Q4)	0.18 / 0.72	0.31	132.26% (+0.41)	―
Nov 01, 2023	2023 (Q3)	0.22 / 0.26	0.21	23.81% (+0.05)	―
Aug 07, 2023	2023 (Q2)	0.22 / 0.28	0.24	16.67% (+0.04)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NSA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 04, 2025	$29.44	$30.29	+2.89%
May 05, 2025	$37.14	$35.38	-4.74%
Feb 26, 2025	$37.00	$37.75	+2.03%
Oct 30, 2024	$40.55	$40.25	-0.74%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does National Storage Affiliates Trust (NSA) report earnings?

National Storage Affiliates Trust (NSA) is schdueled to report earning on Oct 29, 2025, After Close (Confirmed).

What is National Storage Affiliates Trust (NSA) earnings time?

National Storage Affiliates Trust (NSA) earnings time is at Oct 29, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is NSA EPS forecast?

NSA EPS forecast for the fiscal quarter 2025 (Q3) is 0.18.

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