Life Storage Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Life Storage Inc. (LSI) announced a profit for its first quarter that rose from the same period last year.

The company's earnings came in at $36.43 million, or $0.78 per share. This compares with $34.45 million, or $0.74 per share, in last year's first quarter.

Excluding items, Life Storage Inc. reported adjusted earnings of $65.30 million or $1.40 per share for the period.

Analysts had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.6% to $146.94 million from $136.52 million last year.

Life Storage Inc. earnings at a glance:

-Earnings (Q1): $65.30 Mln. vs. $60.91 Mln. last year. -EPS (Q1): $1.40 vs. $1.31 last year. -Analysts Estimate: $0.81 -Revenue (Q1): $146.94 Mln vs. $136.52 Mln last year.