Extra Space Storage Inc. Q1 adjusted earnings Beat Estimates

Extra Space Storage Inc. (EXR) revealed a profit for its first quarter that rose from the same period last year.

The company's bottom line totaled $203.00 million, or $1.53 per share. This compares with $108.18 million, or $0.83 per share, in last year's first quarter.

Excluding items, Extra Space Storage Inc. reported adjusted earnings of $210.06 million or $1.50 per share for the period.

Analysts had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.9% to $358.86 million from $332.45 million last year.

Extra Space Storage Inc. earnings at a glance:

-Earnings (Q1): $210.06 Mln. vs. $172.51 Mln. last year.
-EPS (Q1): $1.50 vs. $1.24 last year.
-Analysts Estimate: $0.99
-Revenue (Q1): $358.86 Mln vs. $332.45 Mln last year.

Full year EPS guidance: $5.95 - $6.10

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