LXP Industrial Trust Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 06:00 am EDT
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LXP Industrial Trust reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 83.84 million compared to USD 78.27 million a year ago. Revenue was USD 85.42 million compared to USD 80.09 million a year ago. Net income was USD 12.66 million compared to USD 23.39 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to USD 0.08 a year ago.
For the nine months, sales was USD 252.33 million compared to USD 234.75 million a year ago. Revenue was USD 257.55 million compared to USD 240.14 million a year ago. Net income was USD 15.78 million compared to USD 75.31 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.25 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to USD 0.25 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 
