Prologis (PLD) Tops Q1 EPS by 8c, Revenues Beat; Raises FY21 Guidance

Prologis (NYSE: PLD) reported Q1 EPS of $0.49, $0.08 better than the analyst estimate of $0.41. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.01 billion.

"The robust demand from the fourth quarter has carried into 2021 and is as strong as I have seen in my career," said Hamid R. Moghadam, chairman and CEO, Prologis. "Global supply chains are pushing to keep pace with accelerating economic activity, retooling for faster fulfillment and resilience. With our well-positioned portfolio, differentiated customer offerings and abundant investment capacity, we expect to continue to outperform while delivering exceptional customer service."

GUIDANCE:

Prologis sees FY2021 EPS of $2.80-$2.90, versus the consensus of $1.74.

"Given the strength of our results and the market, we are taking up our guidance metrics across the board," said Thomas S. Olinger, chief financial officer, Prologis. "Year-over-year Core FFO growth, excluding promotes, is sector-leading at 12.0 percent at the midpoint, while generating $1.25 billion of free cash flow after dividends."

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

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