CubeSmart (NYSE:CUBE) Q3 2024 Earnings Conference Call November 1, 2024 11:00 AM ET

Company Participants

Josh Schutzer – Vice President of Finance
Chris Marr – President and Chief Executive Officer
Tim Martin – Chief Financial Officer

Conference Call Participants

Jeffrey Spector – Bank of America
Michael Goldsmith – UBS
Juan Sanabria – BMO Capital Markets
Daniel Tricarico – Scotiabank
Nick Joseph – Citi
Todd Thomas – KeyBanc Capital Markets
Omotayo Okusanya – Deutsche Bank
Ki Bin Kim – Truist
Mike Mueller – JPMorgan
Eric Luebchow – Wells Fargo
Brendan Lynch – Barclays

Operator

Thank you for standing by. My name is John, and I will be your conference operator today. At this time, I would like to welcome everyone to the CubeSmart Third Quarter 2024 Earnings Call. All lines have been placed in mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would like to turn the call over to Josh Schutzer, Vice President of Finance. Please go ahead.

Josh Schutzer

Thank you, John. Good morning, everyone. Welcome to CubeSmart’s third quarter 2024 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 filed with the Securities and Exchange Commission, specifically the Form 8-K we filed this morning together with our earnings release filed on 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 in the third 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. It was a solid third quarter as we continue to focus on maximizing the opportunities in a competitive market environment. Overall, store performance was in line with our range of expectations entering the quarter. Once customers enter our portfolio, they continue to have elevated lengths of stay and credit metrics in line with historical norms.