Lexington Industrial Q1 Results Top Estimates; Guides FY25 Earnings In Line With Estimates

Lexington Realty Trust

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(RTTNews) - Lexington Industrial Trust (LXP) reported Thursday that fourth-quarter funds from operations or FFO increased to $61.68 million or $0.21 per share from last year's $51.22 million or $0.17 per share.

Adjusted Company FFO for the quarter was $46.95 million, or $0.16 per share, compared to $51.35 million or $0.17 per share in the year-ago quarter.

Net income attributable to common shareholders was $31.39 million or $0.11 per share, sharply higher than last year's $12.99 million or $0.04 per share.

On average, analysts polled expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Total gross revenues for the quarter grew to $100.9 million from $83.0 million in the same quarter last year. Analysts expected revenues of $83.77 million for quarter.

Looking ahead to fiscal 2025, Lexington now projects earnings in a range of $0.01 to $0.05 per share and adjusted Company FFO in a range of $0.61 to $0.65 per share.

The Street is looking for earnings of $0.65 per share for the year.

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