Filing Flows › CubeSmart (CUBE) › Q4 2024
CubeSmart (CUBE) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 28, 2025
CubeSmart (CUBE) reported revenue of $268M for the fourth quarter 2024 (Q4 2024), +1% from a year earlier and -1% from the quarter before. Operating margin was 46.3%, net earnings $102M (38.1% of revenue).
CubeSmart, Q4 2024: revenue $268M (+1% year over year), operating margin 46.3%, net earnings $102M, operating cash flow $165M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $268M | -1% | +1% |
| Operating profit | $124M | +0.4% | -4% |
| Net earnings | $102M | +1% | -10% |
| Operating cash flow | $165M | +13% | +16% |
| Free cash flow | $158M | +14% | +23% |
What changed
Revenue was $267.7M in Q4 2024, up 1% year over year and down 1% from the previous quarter.
Operating profit was $124.1M, a 46.3% margin (down 2.4 points year over year). Operating profit fell $5.2M even though revenue rose $2.6M versus a year earlier, so costs grew faster than sales. Total costs grew 6% against revenue growth of 1%. Net earnings were $101.9M, down 10% year over year. The effective tax rate was 0.0%.
Operating cash flow was $164.7M (up 16% year over year), 162% of net earnings. Non-cash charges added back $53.8M of depreciation and amortization and $2.9M of share-based compensation. Capital expenditures of $6.5M left free cash flow of $158.2M.
Questions
What was CubeSmart's revenue in the fourth quarter 2024?
CubeSmart (CUBE) reported revenue of $268M for the fourth quarter 2024 (Q4 2024), +1% from a year earlier and -1% from the quarter before.
Was CubeSmart profitable in the fourth quarter 2024?
Operating profit was $124M (46.3% of revenue) and net earnings $102M.
Source: CubeSmart 10-K on SEC EDGAR.