CubeSmart (NYSE:CUBE) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET
Company Participants
Josh Schutzer - Vice President, Finance
Chris Marr - President and CEO
Tim Martin - Chief Financial Officer
Conference Call Participants
Michael Goldsmith - UBS
Samir Khanal - Evercore
Smedes Rose - Citi
Juan Sanabria - BMO Capital Markets
Ki Bin Kim - Truist
Spenser Allaway - Green Street
Todd Thomas - KeyBanc
Jonathan Hughes - Raymond James
Jeff Spector - Bank of America
Nick Joseph - Citi
Operator
Hello, everyone. And welcome to the CubeSmart First Quarter 2023 Earnings Call. My name is Charlie, and I will be coordinating the call today. You will have the opportunity to ask the question at the end of the presentation. [Operator Instructions]
I will now hand over to our host, Josh Schutzer, Vice President of Finance, to begin. Josh, please go ahead.
Josh Schutzer
Thank you, Charlie. Good morning, everyone. Welcome to CubeSmart’s first quarter 2023 earnings call. Participants on today’s call include Chris Marr, President and Chief Executive Officer; and Tim Martin, Chief Financial Officer.
Our prepared remarks will be followed by a Q&A session. In addition to our earnings release, which was issued yesterday evening, supplemental operating and financial data is available under the Investor Relations section of the company’s website at www.cubesmart.com.
The company’s remarks will include certain forward-looking statements regarding earnings and strategy that involve risks, uncertainties and other factors that may cause the actual results to differ materially from these forward-looking statements.
The risks and factors that could cause our actual results to differ materially from forward-looking statements are provided in documents the company furnishes to or files with the Securities and Exchange Commission, specifically the Form 8-K we filed this morning, together with our earnings release filed with the Form 8-K and the Risk Factors section of the company’s annual report on Form 10-K.
In addition, the company’s remarks include reference to non-GAAP measures. A reconciliation between GAAP and non-GAAP measures can be found on the company -- can be found in the first quarter financial supplement posted on the company’s website at www.cubesmart.com.
I will now turn the call over to Chris.
Chris Marr
Thank you, Josh. Good morning, everyone. Our first quarter of 2023 can be characterized as solid performance across all of our key performance metrics. Funds from operations per share came in at the high end of our guidance, as steady occupancy trends, coupled with our continued focus on expense control helped to generate strong same-store net operating income growth.