The earnings call presented a mixed picture. While there were positive developments like sequential revenue growth, successful PRO transition, and strategic acquisitions, these were tempered by declines in core FFO, same-store revenues, and increasing interest expenses.

Company Guidance -

Q3 2025

During the National Storage Affiliates First Quarter 2025 Conference Call, the company reported several key metrics and provided guidance for the upcoming year. Same-store revenue growth improved by 130 basis points sequentially, with Portland and Houston showing positive inflections. Contract rates increased approximately 5% from the first quarter levels, and April occupancy rose by 20 basis points to 83.8%. Core FFO per share was reported at $0.54, marking a 10% decline from the previous year due to increased interest expenses and a decrease in same-store NOI. Despite a 190 basis point drop in average occupancy and a 1% decline in average revenue per square foot, management expressed optimism for a moderately better spring leasing season. They highlighted the potential for revenue growth fueled by improved pricing power and occupancy through the summer months. Net debt-to-EBITDA stood at 6.9 times, with expectations to reduce it to 6%-6.5% in the latter half of the year. Guidance remains unchanged, with the high end assuming a recovery in the housing market, while the low end accounts for no material improvement.

Sequential Improvement in Same-Store Revenue Growth

There was a 130 basis points sequential improvement in same-store revenue growth on a year-over-year basis, with Portland and Houston markets inflecting positive.

Successful PRO Transition and Operational Improvements

The completion of the PRO transition led to better search rankings, enhanced pricing algorithms, and declines in personnel expenses. Contract rates increased approximately 5% from the first quarter.

Acquisition Activity and Market Positioning

Closed on three assets totaling approximately $40 million and sold two properties totaling $10 million. Proceeds will be used to pay down debt and fund future acquisitions.

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)	0.23 / -	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	―	―
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 0.23.

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