The RMR Group Inc. (NASDAQ:RMR) announced net income for the second quarter of $ 8.36 million or $ 0.52 per share. The company generated total revenue of $ 59.28 million for the same period. While earnings per share grew 23 percent from the year-ago quarter, revenue advanced 9 percent.
On an adjusted basis, The RMR Group Inc. revealed adjusted net income of 54 cents a share for the second quarter. This missed analysts estimate by $ 0.01 a share while total revenue fell shy of street analysts expectation by $ 3 million.
Street analysts are looking for income of $ 0.55 per share on total revenue of $ 61.82 million for the second quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.
Adam Portnoy, President and CEO, commented: During the second quarter we increased revenues by 9%, net income attributable to The RMR Group Inc. by 21% and Adjusted EBITDA by 6% as compared to a year ago. These operating results are even more noteworthy considering the headwinds facing REIT share prices and the $0.02 per share impact this quarter from one-time items associated with separation costs and share award accelerations.