Prologis (PLD) Tops Q1 EPS by 40c; Lowers FY20 EPS Outlook

Prologis (NYSE: PLD) reported Q1 EPS of $0.70, $0.40 better than the analyst estimate of $0.30. Revenue for the quarter came in at $978 million versus the consensus estimate of $791.07 million.

"Our strong first quarter operating performance is a result of our long-term focus on the world\'s top consumption markets," said Hamid R. Moghadam, chairman and CEO, Prologis. "While the current environment is challenging, we are well-prepared. We have confidence in our team, our strategy and in the strength of our portfolio."

GUIDANCE:

Prologis sees FY2020 EPS of $1.81-$1.88, versus the consensus of $1.57.

"While the full economic impact of the pandemic is difficult to quantify, we have analyzed numerous scenarios and have adjusted our guidance to account for a broad range of outcomes," said Olinger. "Accordingly, we have assumed reduced demand into the third quarter and anticipate that the operating environment will begin to recover toward the end of the year."

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

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