Prologis (PLD) Reports Q4 EPS of $0.94, Revenues Beat; Offers FY19 EPS Guidance Above Consensus

Prologis (NYSE: PLD) reported Q4 EPS of $0.94, versus $0.42 reported last year. Revenue for the quarter came in at $807.09 million versus the consensus estimate of $664.57 million.

"We had a great fourth quarter, capping out our strongest year ever," said Hamid R. Moghadam, chairman and CEO, Prologis. "The occupancy and the utilization of our buildings are running at peak levels and we expect activity to remain strong, with our most dynamic customers building out new-and-improved logistics networks."

Outlook

"At the midpoint of our range, we project Core FFO growth of approximately 7.5%, excluding promotes," said Thomas S. Olinger, chief financial officer, Prologis. "Cash Same Store NOI growth is projected to be 4.25% at the midpoint, reflecting our current operating strategy of favoring rent growth over occupancy."

Olinger added, "We are confident in our ability to outperform in any future environment given our embedded rent upside, development-ready land bank and significant liquidity."

GUIDANCE:

Prologis sees FY2019 EPS of $1.77-$1.92, versus the consensus of $1.58.

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

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