LXP Q1 net income $9.5M ($0.03); Adjusted FFO $0.17; raises dev yield to 6.0-6.5%

LXP Industrial Trust

2023-Q1 EPS reported $0.03 revenue$85,075,000

Net income to common shareholders $9.5M ($0.03/diluted) vs $9.0M ($0.03) in Q1 2022.
Adjusted Company FFO $50.3M ($0.17/diluted), up from $48.1M ($0.16) prior year.
Industrial same-store NOI +5.0% YoY; 2.3M sq ft lease extensions, Base rent +45%, Cash Base rent +28.5%.
Completed 392k sq ft Phoenix development; raised dev pipeline yield estimate to 6.0%-6.5% from 5.5%-6.0%.
2023 guidance: net income $0.18-$0.22/diluted; reaffirmed Adjusted Company FFO $0.66-$0.70/diluted.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LXP Industrial Trust reported the quarter ended March 31, 2023 results: revenue $85.1 million, net income $9.5 million, EPS $0.03 per diluted share.

Period: the quarter ended March 31, 2023
Revenue: $85.1 million
Net income: $9.5 million
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

4.3 million square foot development pipeline to a range of 6.0% to 6.5%.” Page 2 of 12 FINANCIAL RESULTS Revenues For the quarter ended March 31, 2023, total gross revenues were $85.1 million, compared with total gross revenues of $80.3 million for the quarter ended March 31, 2022. The increase is primarily attributable to revenue from acquisitions and

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Source: SEC EDGAR

accession 0001539497-23-000846

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