LXP Industrial Trust Q1 FFO Declines

(RTTNews) - LXP Industrial Trust (LXP) reported that its first quarter FFO to all equityholders and unitholders declined to $48.8 million from $50.2 million, prior year. Adjusted FFO was $48.8 million, or $0.16 per share, compared to $50.3 million, or $0.17 per share, previous year. Net loss attributable to common shareholders was $1.9 million, or $0.01 per share, compared with net income of $9.5 million, or $0.03 per share, last year.

On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.01, for the quarter. Analysts' estimates typically exclude special items.

Total gross revenues were $86.3 million, compared with $85.1 million, a year ago. Analysts on average had estimated $81.72 million in revenue.

LXP now estimates that net income attributable to common shareholders for the year ended December 31, 2024 will be within an expected range of $0.08 to $0.12 per share. LXP affirmed its expectation that adjusted FFO for the year ended December 31, 2024, will be within a range of $0.61 and $0.65 per share.

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