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Jun 30, 2023
Lexington Realty Q2 2023 Earnings Report
LXP Industrial Trust reported a net loss for the second quarter of 2023, while also achieving growth in Adjusted Company FFO and same-store NOI.
Key Takeaways
LXP Industrial Trust reported a net loss attributable to common shareholders of $(9.7) million, or $(0.03) per diluted common share, for the quarter ended June 30, 2023. However, the company generated Adjusted Company FFO of $52.7 million, or $0.18 per diluted share, and increased Industrial Same-Store NOI by 5.8% compared to the same period in 2022.
Net Loss attributable to common shareholders was $(9.7) million, or $(0.03) per diluted common share.
Adjusted Company FFO was $52.7 million, or $0.18 per diluted common share.
Completed 2.0 million square feet of new and extended leases.
Increased Industrial Same-Store NOI 5.8% compared to the same period in 2022.
Forward Guidance
LXP estimates net income attributable to common shareholders for the year ended December 31, 2023 will be within an expected range of $0.21 to $0.25 per diluted common share and reaffirms that its estimated Adjusted Company FFO for the year ended December 31, 2023, will be within an expected range of $0.66 and $0.70 per diluted common share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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