LXP Industrial Trust Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 06:00 am EDT
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LXP Industrial Trust reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 85.07 million compared to USD 77.94 million a year ago. Revenue was USD 87.05 million compared to USD 79.78 million a year ago. Net loss was USD 8.05 million compared to net income of USD 41.3 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to diluted earnings per share from continuing operations of USD 0.14 a year ago.
For the six months, sales was USD 168.48 million compared to USD 156.48 million a year ago. Revenue was USD 172.13 million compared to USD 160.05 million a year ago. Net income was USD 3.12 million compared to USD 51.92 million a year ago.
LXP Industrial Trust is a real estate investment trust focused on single-tenant industrial real estate investments across the United States. The Company invests in single-tenant warehouse/distribution real estate. The Company conducts its operations indirectly through property owner subsidiaries, which are single purpose entities; a wholly owned taxable REIT subsidiaries (TRS), Lexington Realty Advisors, Inc., and joint ventures. It has investments in the Lower Midwest and Sunbelt. The Company's warehouse/distribution portfolio includes various industries, such as electronic commerce, automotive, construction/materials, food, apparel, specialty, technology, retail department, aerospace/defense, healthcare, consumer products, transportation/logistics and others. It has ownership interests in approximately 115 consolidated real estate properties, located in 18 states and containing an aggregate of approximately 54.6 million square feet of space, approximately 99.8% of which is leased.
LXP INDUSTRIAL TRUST 
