Earnings: Public Storage, ASGN

Public Storage reported net income of $313 million ($1.79 per share) for the first quarter, compared to $302 million ($1.73 per shares) for the first quarter in 2019. Revenue increased 3.7 percent to $674 million. Analysts on average expected net income of $1.71 a share on revenue of $713 million, according to Thomson Financial Network. The Glendale real estate investment trust also reported funds from operations, a common metric for REITs, of $56 million ($2.61 per share), a 3.6 percent increase compared to $440 million ($2.52 a share) for the same period a year ago. The company said self storage is an essential business, so it remains open, but the coronavirus has negatively impacted its business. Shares of Public Storage (PSA) closed Friday down $1.09, or a fraction of a percent, to $184.36 on the New York Stock Exchange. <br> ASGN Inc., the staffing provider in Calabasas, reported net income of $43.8 million (82 cents per share) for the first quarter, up from $34.9 million (66 cents) in the first quarter of 2019. Revenues increased 7.2 percent to $991 million. Analysts on average expected net income of 84 cents, according to Thomson Financial Network. “Through February, we continued to see growth across our business at or above our expectations for the two months,” Chief Executive Ted Hanson said in a statement. “As we entered March, and the onset of the health crisis took hold, our businesses servicing commercial market accounts leveled off, and, in some cases, saw slight declines. Our federal government business, on the other hand, continued to see solid growth.” Shares of ASGN (ASGN) closed Friday up $6.59, or 14 percent, to $53.04 on the New York Stock Exchange.