Prologis (PLD) Tops Q2 EPS by 33c, Beats on Revenues; Boosts FY18 EPS Outlook

Prologis (NYSE: PLD) reported Q2 EPS of $0.71, $0.33 better than the analyst estimate of $0.38. Revenue for the quarter came in at $621 million versus the consensus estimate of $557.12 million.

• Net earnings per diluted share was $0.62 compared with $0.50 for the same period in 2017.
• Core funds from operations per diluted share was $0.71 compared with $0.84 for the same period in 2017.
• The prior period included net promote income of $0.18 per diluted share.

"Our momentum going into 2018 continued through the second quarter," said Hamid R. Moghadam, chairman and CEO, Prologis. "Our portfolio and balance sheet are in the best shape ever, and our team continues to deliver excellent results while remaining laser-focused on platform initiatives that will increase our competitive advantages."

Moghadam added, "Trade is dominating the headlines. If today\'s political rhetoric translates into significant protectionist policies, long-term economic growth will suffer, and this will affect all businesses, including ours. As of now, however, our customers are moving forward with their growth plans and we have not seen a change in sentiment or decision-making."

"Market fundamentals are the healthiest on record," said Thomas S. Olinger, chief financial officer, Prologis. "Our improved outlook for market rental growth combined with our year-to-date performance leads us to increase and narrow our full-year guidance ranges for earnings and same store NOI."

GUIDANCE:

Prologis sees FY2018 EPS of $2.80-$2.86, versus the consensus of $1.85.

For earnings history and earnings-related data on Prologis (PLD) click here.

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