Prologis (NYSE: PLD) reported Q3 EPS of $0.40, $0.08 better than the analyst estimate of $0.32. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $955.77 million.

"Activity in our portfolio is robust and broadening – a reflection of increased demand in the quarter across multiple sectors, the adoption of e-commerce and the need for higher levels of inventory," said Hamid R. Moghadam, chairman and CEO, Prologis. "We remain focused on addressing customer pain points through our investments in data, labor solutions, technology and innovation."

GUIDANCE:

Prologis sees FY2020 EPS of $2.20-$2.24, versus the consensus of $1.78.

"Our outlook continues to improve based on results, leasing and lower credit losses," said Thomas S. Olinger, chief financial officer, Prologis. "Year-over-year Core FFO growth is sector leading at 13.7 percent at the midpoint, excluding promotes, while keeping leverage flat. Additionally, we continue to maintain significant dividend coverage of 1.6x and expect 2020 free cash flow after dividends of $1.1 billion."

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