Extra Space Storage Inc (EXR) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen, and welcome to the Extra Space Storage, Inc. Q2 2025 Earnings Conference Call. At this time, all lines are in a listen-only mode. While we're in the presentation, we will conduct a question-and-answer session. If at any time during this call, you require immediate assistance, please press star-zero for the operator. This call is being recorded on Thursday, July 31, 2025. I would now like to turn the conference over to Jared Conley, Vice President of Investor Relations. Please go ahead. Thank you, Joelle, and welcome to Extra Space Storage's second quarter 2025 earnings call. In addition to our press release, we have furnished unaudited supplemental financial information on our website. Please remember that management's prepared remarks and answers to your questions may contain forward-looking statements that's defined in the private securities litigation reformat. Actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with the company's businesses. These forward-looking statements are qualified by the cautionary statements contained in the company's latest filings with the SEC, which we encourage our listeners to review. Forward-looking statements represent management's estimates as of today, July 31, 2025. The company assumes no obligation to revise or update any forward-looking statements because of the changing market conditions or other circumstances after the date of this conference call. I would now like to turn the call over to Joe Margolis, Chief Executive Officer. Thank you for joining us today. We have a solid second quarter. Our operational momentum continued with same-store occupancy reaching 94.6%, up 60 basis points year-over-ye...