Compared to Estimates, Rexford Industrial (REXR) Q2 Earnings: A Look at Key Metrics

Core Insights - Rexford Industrial (REXR) reported a revenue of $237.57 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate of $224.12 million by 6% [1] - The company achieved an EPS of $0.60, which is a significant increase from $0.26 a year ago, representing a year-over-year growth of 130.8% [1] Revenue and Earnings Performance - Rental revenues reached $232.97 million, surpassing the average estimate of $210.11 million by analysts, marking a year-over-year increase of 20% [3] - Management leasing and development services generated $0.16 million, slightly above the average estimate of $0.13 million, but reflecting a year-over-year decline of 8.8% [3] - Interest income was reported at $4.44 million, below the average estimate of $5.16 million [3] - Net Earnings Per Share (Diluted) stood at $0.37, exceeding the estimated $0.27 by analysts [3] Stock Performance - Rexford Industrial's shares have returned 12.9% over the past month, outperforming the Zacks S&P 500 composite, which saw a return of 4.4% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]