Recap: Public Storage Q1 Earnings

Public Storage 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.

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.

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).

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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