Public Storage (NYSE:PSA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.03%.
Public Storage Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 30.43% to $1.8 in the quarter versus EPS of $1.38 in the year-earlier quarter.
Revenue: Rose 9.33% to $485.37 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Public Storage reported adjusted EPS income of $1.8 per share. By that measure, the company beat the mean analyst estimate of $1.77. It beat the average revenue estimate of $452.22 million.
Key Stats (on next page)…
Revenue increased 3.31% from $469.81 million in the previous quarter. EPS increased 9.09% from $1.65 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.86 to a profit $1.85. For the current year, the average estimate is a profit of $7.16, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)