Life Storage Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Life Storage Inc. (LSI) announced earnings for its third quarter that increased from the same period last year.

The company's profit came in at $140.0 million, or $2.99 per share. This compares with $41.1 million, or $0.88 per share, in last year's third quarter.

Excluding items, Life Storage Inc. reported adjusted earnings of $68.03 million or $1.46 per share for the period.

Analysts 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 2.9% to $145.63 million from $141.48 million last year.

Life Storage Inc. earnings at a glance:

-Earnings (Q3): $68.03 Mln. vs. $68.09 Mln. last year. -EPS (Q3): $1.46 vs. $1.46 last year. -Analysts Estimate: $0.89 -Revenue (Q3): $145.63 Mln vs. $141.48 Mln last year.

-Guidance: Next quarter EPS guidance: $ 0.73 – $ 0.77 Full year EPS guidance: $ 5.35 – $ 5.39