Subtext

Extra Space Storage Inc. EXR

SectorReal Estate
Transcripts37
Date range2016-05-03 – 2025-04-30
Calls charted37

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-8-4+0+4+82016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Overall: -1.72016 Q2 · Overall: -0.62016 Q3 · Overall: -1.52016 Q4 · Overall: -3.82017 Q1 · Overall: +0.02017 Q2 · Overall: +0.32017 Q3 · Overall: +3.22017 Q4 · Overall: +3.12018 Q1 · Overall: -1.02018 Q2 · Overall: +0.92018 Q3 · Overall: -1.82018 Q4 · Overall: +0.82019 Q1 · Overall: +4.62019 Q2 · Overall: +4.52019 Q3 · Overall: +7.32019 Q4 · Overall: +3.42020 Q1 · Overall: -0.62020 Q2 · Overall: -0.92020 Q3 · Overall: +2.42020 Q4 · Overall: +2.42021 Q1 · Overall: +6.82021 Q2 · Overall: +1.62021 Q3 · Overall: +5.62021 Q4 · Overall: +4.82022 Q1 · Overall: +4.62022 Q2 · Overall: +4.92022 Q3 · Overall: -0.52022 Q4 · Overall: +4.32023 Q1 · Overall: +1.42023 Q2 · Overall: +1.62023 Q3 · Overall: +4.42023 Q4 · Overall: +2.92024 Q1 · Overall: -1.92024 Q2 · Overall: +2.72024 Q3 · Overall: +0.02024 Q4 · Overall: +3.72025 Q1 · Overall: +3.6
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-22-11+0+11+222016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · CEO: +2.92016 Q2 · CEO: +7.22016 Q3 · CEO: +3.62016 Q4 · CEO: +1.72017 Q1 · CEO: +8.22017 Q2 · CEO: +6.02017 Q3 · CEO: +13.32017 Q4 · CEO: +9.02018 Q1 · CEO: +4.72018 Q2 · CEO: +9.92018 Q3 · CEO: +2.22018 Q4 · CEO: +19.02019 Q1 · CEO: +15.62019 Q2 · CEO: +13.82019 Q3 · CEO: +18.52019 Q4 · CEO: +13.52020 Q1 · CEO: +10.52020 Q2 · CEO: +3.92020 Q3 · CEO: +6.42020 Q4 · CEO: +4.22021 Q1 · CEO: +10.02021 Q2 · CEO: +10.12021 Q3 · CEO: +11.32021 Q4 · CEO: +13.02022 Q1 · CEO: +11.62022 Q2 · CEO: +7.02022 Q3 · CEO: +8.52022 Q4 · CEO: +17.32023 Q1 · CEO: +5.22023 Q2 · CEO: +10.92023 Q3 · CEO: +11.62023 Q4 · CEO: +11.32024 Q2 · CEO: +10.82024 Q3 · CEO: +8.22024 Q4 · CEO: +12.52025 Q1 · CEO: +11.42016 Q1 · CFO: +7.72016 Q2 · CFO: +3.12016 Q3 · CFO: +4.92016 Q4 · CFO: -2.22017 Q1 · CFO: +7.62017 Q2 · CFO: +2.62017 Q3 · CFO: +0.02017 Q4 · CFO: +6.22018 Q1 · CFO: +1.12018 Q2 · CFO: +1.52018 Q3 · CFO: +1.52019 Q3 · CFO: +7.92020 Q1 · CFO: -3.1
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-30-15+0+15+302016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Prepared remarks: +1.22016 Q2 · Prepared remarks: +2.32016 Q3 · Prepared remarks: +5.22016 Q4 · Prepared remarks: +5.42017 Q1 · Prepared remarks: +8.92017 Q2 · Prepared remarks: +7.02017 Q3 · Prepared remarks: +2.82017 Q4 · Prepared remarks: +8.72018 Q1 · Prepared remarks: -1.02018 Q2 · Prepared remarks: +5.12018 Q3 · Prepared remarks: -2.02018 Q4 · Prepared remarks: +1.72019 Q1 · Prepared remarks: +14.42019 Q2 · Prepared remarks: +11.32019 Q3 · Prepared remarks: +5.82019 Q4 · Prepared remarks: +17.02020 Q1 · Prepared remarks: +7.62020 Q2 · Prepared remarks: +5.92020 Q3 · Prepared remarks: +7.42020 Q4 · Prepared remarks: +7.82021 Q1 · Prepared remarks: +8.62021 Q2 · Prepared remarks: +16.42021 Q3 · Prepared remarks: +25.72021 Q4 · Prepared remarks: +5.92022 Q1 · Prepared remarks: +13.62022 Q2 · Prepared remarks: +9.32022 Q3 · Prepared remarks: -3.02022 Q4 · Prepared remarks: +14.42023 Q1 · Prepared remarks: +7.82023 Q2 · Prepared remarks: -0.62023 Q3 · Prepared remarks: +5.32023 Q4 · Prepared remarks: +9.32024 Q1 · Prepared remarks: +9.62024 Q2 · Prepared remarks: +16.42024 Q3 · Prepared remarks: -1.82024 Q4 · Prepared remarks: +14.42025 Q1 · Prepared remarks: +13.92016 Q1 · Q&A responses: +3.42016 Q2 · Q&A responses: +4.92016 Q3 · Q&A responses: +2.32016 Q4 · Q&A responses: -3.32017 Q1 · Q&A responses: +3.02017 Q2 · Q&A responses: +3.72017 Q3 · Q&A responses: +8.62017 Q4 · Q&A responses: +4.62018 Q1 · Q&A responses: +4.52018 Q2 · Q&A responses: +4.02018 Q3 · Q&A responses: +3.12018 Q4 · Q&A responses: +16.02019 Q1 · Q&A responses: +8.72019 Q2 · Q&A responses: +9.52019 Q3 · Q&A responses: +14.92019 Q4 · Q&A responses: +4.52020 Q1 · Q&A responses: +0.62020 Q2 · Q&A responses: +0.32020 Q3 · Q&A responses: +5.32020 Q4 · Q&A responses: +4.02021 Q1 · Q&A responses: +11.32021 Q2 · Q&A responses: +4.82021 Q3 · Q&A responses: +7.82021 Q4 · Q&A responses: +10.92022 Q1 · Q&A responses: +6.92022 Q2 · Q&A responses: +6.32022 Q3 · Q&A responses: +4.22022 Q4 · Q&A responses: +6.62023 Q1 · Q&A responses: +4.82023 Q2 · Q&A responses: +10.32023 Q3 · Q&A responses: +6.92023 Q4 · Q&A responses: +4.42024 Q1 · Q&A responses: +3.82024 Q2 · Q&A responses: +4.92024 Q3 · Q&A responses: +5.22024 Q4 · Q&A responses: +7.12025 Q1 · Q&A responses: +7.1
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$2.07$4.39$6.722016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: $2.392016 Q2: $2.482016 Q3: $2.562016 Q4: $2.502017 Q1: $2.612017 Q2: $2.732017 Q3: $2.882017 Q4: $2.872018 Q1: $3.032018 Q2: $2.952018 Q3: $3.032018 Q4: $3.092019 Q1: $3.102019 Q2: $3.102019 Q3: $3.192019 Q4: $3.242020 Q1: $3.192020 Q2: $3.122020 Q3: $3.152020 Q4: $3.622021 Q1: $3.982021 Q2: $4.462021 Q3: $5.282021 Q4: $5.572022 Q1: $5.812022 Q2: $6.152022 Q3: $6.402022 Q4: $6.342023 Q1: $6.042023 Q2: $6.192023 Q3: $5.532023 Q4: $5.282024 Q1: $4.502024 Q2: $4.572024 Q3: $4.74

Forward P/E

21.2730.5239.772016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: 37.682016 Q2: 35.282016 Q3: 30.192016 Q4: 29.362017 Q1: 28.952017 Q2: 27.622017 Q3: 26.972017 Q4: 30.522018 Q1: 28.442018 Q2: 32.872018 Q3: 28.642018 Q4: 30.352019 Q1: 32.282019 Q2: 35.252019 Q3: 36.652019 Q4: 31.952020 Q1: 28.162020 Q2: 31.142020 Q3: 35.682020 Q4: 30.682021 Q1: 33.002021 Q2: 35.732021 Q3: 34.912021 Q4: 38.492022 Q1: 33.292022 Q2: 26.262022 Q3: 29.962022 Q4: 24.612023 Q1: 26.092023 Q2: 23.152023 Q3: 22.552023 Q4: 27.652024 Q1: 32.842024 Q2: 34.852024 Q3: 38.36

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2018 Q1 tone ↓ -4.1 fwd EPS ↑ +0.16 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -2.7 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↓ -3.9 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↓ -5.2 fwd EPS ↑ +0.48 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -5.5 fwd EPS ↑ +0.25 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↑ +2.8 fwd EPS ↓ -0.66 Tone rose while the forward EPS estimate was cut.
  • 2024 Q3 tone ↓ -2.7 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-30+3.6——View →
2024 Q42025-02-26+3.7——View →
2024 Q32024-10-30+0.0$4.7438.4View →
2024 Q22024-07-31+2.7$4.5734.9View →
2024 Q12024-05-01-1.9$4.5032.8View →
2023 Q42024-02-28+2.9$5.2827.6View →
2023 Q32023-11-08+4.4$5.5322.6View →
2023 Q22023-08-04+1.6$6.1923.1View →