Prologis (PLD) Reports Q3 EPS of $0.60, Revenues Beat; Narrows FY18 EPS Outlook

Prologis (NYSE: PLD) reported Q3 EPS of $0.60, $0.25 better than the analyst estimate of $0.35. Revenue for the quarter came in at $682 million versus the consensus estimate of $577.84 million.

"Demand for well-located logistics real estate is strong, with customers prioritizing proximity to consumers to offset supply chain costs such as labor and transportation," said Hamid R. Moghadam, chairman and CEO, Prologis. "Market rent growth in Europe continued to accelerate, and we believe it may surpass that of the U.S. in 2019."

Moghadam added, "The integration of the DCT Industrial acquisition on August 22 is complete. We\'ve hit the expected run rate of $80 million per year of immediate savings and the team is now focused on realizing the revenue and platform synergies associated with this transaction."

GUIDANCE:

Prologis sees FY2018 EPS of $2.68-$2.72, versus the consensus of $2.01.

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

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