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Recap: Public Storage Q1 Earnings

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.

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