Life Storage Inc. Bottom Line Rises In Q3, Beats estimates

(RTTNews) - Life Storage Inc. (LSI) revealed a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $98.51 million, or $1.16 per share. This compares with $70.27 million, or $0.89 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 31.1% to $272.95 million from $208.26 million last year.

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

-Earnings (Q3): $98.51 Mln. vs. $70.27 Mln. last year. -EPS (Q3): $1.16 vs. $0.89 last year. -Analyst Estimate: $1.10 -Revenue (Q3): $272.95 Mln vs. $208.26 Mln last year.

-Guidance: Next quarter EPS guidance: $1.00 - $1.04