CORPORATE FINANCIAL REPORTS 3-1-21

The following are recent financial reports as posted by selected Utah corporations:

Extra Space Storage

Extra Space Storage Inc., based in Salt Lake City, reported funds from operations attributable to common stockholders and unit holders of $204.7 million or $1.48 per share, for the quarter ended Dec. 31. That compares with $175 million, or $1.26 per share, for the same quarter a year earlier.

The company reported net income attributable to common stockholders of $156 million, or $1.19 per share, for the quarter, which compares with $112.3 million, or 86 cents per share, for the year-earlier quarter.

Same-store rental revenues in the most recent quarter totaled $278 million, up from $271.8 million in the year-earlier quarter.

For the full year 2020, the company reported funds from operations (FFO) attributable to common stockholders and unit holders of $722.5 million, or $5.24 per share. That compares with $668 million, or $4.84 per share, for 2019.

The company reported net income attributable to common stockholders of $481.8 million, or $3.71 per share, in 2020, which compares with $420 million, or $3.24 per share, for 2019.

Same-store rental revenues in 2020 totaled $1.08 billion, even with 2019.

Extra Space Storage is a self-administered and self-managed real estate investment trust that owns and/or operates 1,921 self-storage stores in 40 states; Washington, D.C.; and Puerto Rico. It is the second-largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the nation.

“Extra Space delivered another strong quarter with core FFO growth of 16.5 percent,” Joe Margolis, CEO, said in announcing the results. “Steady demand and muted vacates continue to result in all-time high occupancy levels, leading to solid rental rate growth across our diversified portfolio. Our people, portfolio and platform demonstrated resiliency and durability, in spite of the turbulence that came with 2020.

“We also found innovative avenues to grow, adding 165 stores to our management platform and investing almost $1 billion in capital in the storage sector. While future risks and uncertainties related to the pandemic and general macro-economic conditions may still impact future performance, we believe we are well-positioned for another great year of FFO growth in 2021.”

CleanSpark

CleanSpark Inc., based in Woods Cross, reported a net loss attributable to common shareholders of $7.2 million, or 32 cents per share, for the quarter ended Dec. 31. That compares with a loss of $1.9 million, or 40 cents per share, for the same quarter a year earlier.

Revenues in the most recent quarter totaled $2.26 million, up from $980,000 in the prior-year quarter.

CleanSpark provides software and controls technology solutions to solve modern energy challenges. Through its wholly owned subsidiary, ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The company also owns and operates a fleet of bitcoin miners.

“This was another record-breaking quarter for CleanSpark,” the company said in announcing the results. “As we had discussed in our prior shareholder letter, the company expected the somewhat cyclical nature of our business to continue, specifically related to our energy business segments. In prior years, we have recognized approximately 10 percent of our total annual revenues in the quarter ending Dec. 31. This trend has continued to be reflected in the results of our most recent fiscal quarter.”