Prologis (PLD) Tops Q4 EPS by 23c; Provides FY20 EPS Outlook

Prologis (NYSE: PLD) reported Q4 EPS of $0.61, $0.23 better than the analyst estimate of $0.38.

"Our fourth quarter results represent the culmination of Vision 2019, our three-year strategic plan, and our cumulative earnings growth surpassed our expectations materially. We set several new high-water marks for performance and this success is a testament to the strength of our team and global portfolio," said Hamid R. Moghadam, chairman and CEO, Prologis. "We delivered double-digit rent change and record value creation from development, as well as record promotes from our co-investment ventures. Additionally in 2019, we raised $6.5 billion in our Strategic Capital business, our largest third-party capital raise ever."

Moghadam continued, "The integration of the IPT acquisition is effectively complete and we are making great progress towards closing Liberty. We have built an enterprise that enables us to execute on major transactions while delivering sector-leading results."

GUIDANCE:

Prologis sees FY2020 EPS of $1.98-$2.13, versus the consensus of $1.51.

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

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