WASHINGTON (dpa-AFX) - (Adds Outlook)
ProLogis (PLD) reported earnings for first quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line came in at $463.17 million, or $0.50 per share. This compares with $1.15 billion, or $1.54 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 45.1% to $1.77 billion from $1.22 billion last year.
Outlook:
Looking forward, the company has raised its full-year Core FFO per share outlook to $5.42- $5.50 from $5.40- $5.50 provided earlier.
Earnings per share are now expected in the range of $3.10 to $3.25, up from $3.00 to $3.15 provided earlier.
Analysts on average polled by Thomson-Reuters expect the company to report earnings of $2.78 per share.
ProLogis Q1 earnings at a glance (GAAP) :
-Earnings (Q1): $463.17 Mln. vs. $1.15 Bln. last year. -EPS (Q1): $0.50 vs. $1.54 last year. -Analyst Estimates: $0.53 -Revenue (Q1): $1.77 Bln vs. $1.22 Bln last year.
-Guidance: Full year EPS guidance: $3.10 to $3.25
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