Shurgard Self Storage Limited (SSSAF)
OTHER OTC:SSSAF
Earnings Data
Report Date
Aug 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
3.9Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive operational and strategic picture: strong full-year revenue (10.8%) and EBITDA (10.4%) growth, an active and repeatable development engine (90k sqm delivered; 160k sqm secured), solid liquidity and a BBB+ balance sheet. Management acknowledged near-term headwinds — a Q4 slowdown in several major markets, increased competitive discounting, a modest EPS uplift (1.7%) relative to EBITDA growth, and a few acquisition vintages still ramping — and has responded with disciplined actions (raising hurdle rates to 9–10%, discontinuing scrip dividends, and reiterating leverage targets). Overall, the company’s fundamentals, pipeline, and capital discipline outweigh the short-term operational and market challenges.Company Guidance
Strong Top-Line and EBITDA Growth
Full-year revenues grew 10.8% (referred to as 'almost 11%') driven by portfolio expansion and improved in-place rent; underlying EBITDA expanded 10.4%, reflecting scalable platform and cost efficiencies.
Same-Store Profitability Expansion
Same-store revenue grew 3.2% (constant FX) and same-store NOI increased 3.8%; same-store NOI margin expanded by 40 basis points to 68.1% for 2025, supporting predictable earnings.
Delivering Development Volume and Pipeline
Opened ~90,000 sqm in 2025 at an 8–9% yield for ~EUR 210m; secured ~160,000 sqm for 2026–27 (c.102,000 sqm in 2026 and 56,000 sqm in 2027) at 8–9% yield, showing repeatable development capability.
Balance Sheet Strength and Liquidity
Investment-grade BBB+ rating retained; LTV ~23.2% (below 25% target), net debt/EBITDA 6.2x, average cost of debt 3.33% with 7.2-year WAM, EUR 56m cash and fully undrawn EUR 500m RCF providing strong liquidity.
EPRA NTA and EPS Outcomes
EPRA net tangible asset per share reported at EUR 53.3; adjusted EPRA earnings per share for 2025 were EUR 1.74, in line with expectations and consensus.
Successful Lok'nStore Integration and Synergies
Lok'nStore rebranding and upgrades completed; occupancy improved from 67% at acquisition to 80% by Dec 2025 with target 90% by end of 2026; realized synergies at top of guidance of EUR 5m.
Capital Allocation Discipline
Strategic actions include raising investment hurdle to 9–10% (from 8–9%), discontinuing the scrip dividend in favor of a cash-only dividend of EUR 1.17 per share, and reaffirming long-term LTV and rating commitments.
Medium-Term Growth Guidance
Guidance for 2026: all-store revenue growth 6–8%, underlying EBITDA EUR 278–289m, adjusted EPRA EPS growth 1–6% (EPS 1.70–1.81); medium-term (2027–2030) CAGR target of 6–8% for revenue, EBITDA and adjusted EPRA earnings.
SSSAF Earnings History
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
SSSAF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 13, 2026 | $29.21 | $27.81 | -4.79% |
Feb 25, 2026 | $38.34 | $37.16 | -3.08% |
Nov 06, 2025 | $36.53 | $36.63 | +0.30% |
Aug 14, 2025 | $40.21 | $38.97 | -3.07% |
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 Shurgard Self Storage Limited (SSSAF) report earnings?
Shurgard Self Storage Limited (SSSAF) is schdueled to report earning on Aug 13, 2026, Before Open (Confirmed).
What is Shurgard Self Storage Limited (SSSAF) earnings time?
Shurgard Self Storage Limited (SSSAF) earnings time is at Aug 13, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What is SSSAF EPS forecast?
Currently, no data Available