First Industrial Realty (FR) Tops Q4 EPS by 21c, Revenues Beat; Offers FY19 EPS Below Consensus

First Industrial Realty (NYSE: FR) reported Q4 EPS of $0.40, $0.21 better than the analyst estimate of $0.19. Revenue for the quarter came in at $105.08 million versus the consensus estimate of $103.07 million.

"Our team and our portfolio performed very well in 2018, culminating in record year-end occupancy of 98.5%," said Peter E. Baccile, First Industrial\'s president and chief executive officer. "We continued to create value for our shareholders and to meet customers' space needs through our development program, including the largest lease in our history at our 1.4 million square-foot First Nandina Logistics Center in Southern California and two build-to-suit starts in Dallas and Atlanta totaling 1.6 million square feet. Tenants continue to actively seek logistics real estate as their supply chains grow and evolve and we are excited about the investments we are making to meet this demand."

GUIDANCE:

First Industrial Realty sees FY2019 EPS of $0.71-$0.81, versus the consensus of $0.87.

For earnings history and earnings-related data on First Industrial Realty (FR) click here.

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