Public Storage Earnings: Here’s Why the Stock is Up Now
Public Storage (NYSE:PSA) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.23%.
Public Storage Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 22.22% to $1.65 in the quarter versus EPS of $1.35 in the year-earlier quarter.
Revenue: Decreased 11.7% to $409.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Public Storage reported adjusted EPS income of $1.65 per share. By that measure, the company beat the mean analyst estimate of $1.62. It missed the average revenue estimate of $429.43 million.
Quoting Management: There was no comment from management.
Key Stats (on next page)…
Revenue decreased 16.75% from $492.04 million in the previous quarter. EPS decreased 11.29% from $1.86 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.76 and has not changed. For the current year, the average estimate has moved up from a profit of $7.08 to a profit of $7.16 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)