Life Storage Inc. Profit Climbs In Q1, but misses estimates

(RTTNews) - Life Storage Inc. (LSI) announced earnings for its first quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $73.58 million, or $0.88 per share. This compares with $47.38 million, or $0.63 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 35.8% to $233.49 million from $171.89 million last year.

Life Storage Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $73.58 Mln. vs. $47.38 Mln. last year. -EPS (Q1): $0.88 vs. $0.63 last year. -Analyst Estimate: $0.89 -Revenue (Q1): $233.49 Mln vs. $171.89 Mln last year.