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Life Storage Inc. Q1 adjusted earnings Beat Estimates

Life Storage Inc. (LSI) revealed a profit for its first quarter that increased from the same period last year.

The company's earnings totaled $47.38 million, or $0.63 per share. This compares with $36.43 million, or $0.52 per share, in last year's first quarter.

Excluding items, Life Storage Inc. reported adjusted earnings of $81.25 million or $1.08 per share for the period.

Analysts had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.0% to $171.89 million from $146.94 million last year.

Life Storage Inc. earnings at a glance:

-Earnings (Q1): $81.25 Mln. vs. $65.30 Mln. last year.
-EPS (Q1): $1.08 vs. $0.93 last year.
-Analysts Estimate: $0.56
-Revenue (Q1): $171.89 Mln vs. $146.94 Mln last year.

-Guidance:
Next quarter EPS guidance: $1.08 - $1.12
Full year EPS guidance: $4.33 - $4.41

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