Public Storage (NYSE:PSA) reported its Q1 earnings results on Tuesday, May 3, 2022 at 04:00 PM.
Here's what investors need to know about the announcement.
Earnings
Public Storage beat estimated earnings by 57.33%, reporting an EPS of $3.65 versus an estimate of $2.32.
Revenue was up $200.67 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.1 which was followed by a 3.23% increase in the share price the next day.
Here's a look at Public Storage's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 3.44 | 3.23 | 2.93 | 2.70 |
| EPS Actual | 3.54 | 3.42 | 3.15 | 2.82 |
| Revenue Estimate | 911.99M | 852.54M | 799.43M | 731.88M |
| Revenue Actual | 869.72M | 840.51M | 776.99M | 716.35M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Public Storage management provided guidance for FY 2022, expecting earnings between $14.75 and $15.65 per share.
To track all earnings releases for Public Storage visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
