WASHINGTON (dpa-AFX) - Logistics real estate firm Prologis, Inc. (PLD) reported Wednesday that net earnings attributable to common stockholders for the third quarter declined to $763 million or $0.82 per share from $1.0 billion or $1.08 per share in the prior-year quarter.
On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items
Core funds from operations or Core FFO, for the quarter was $1.49 per share, compared to $1.43 per share in the year-ago quarter.
Core FFO, excluding Net Promote Income (Expense) was $1.50 per share, compared to $1.45 per share last year.
Total revenues for the quarter grew to $2.21 billion from $2.04 billion in the same quarter last year. Analysts expected revenues of $2.03 billion for the quarter.
Looking ahead to fiscal 2025, the company now forecasts net earnings in a range of $3.40 to $3.50 per share, core funds from operation or core FFO in a range of $5.78 to $5.81 per share and core FFO, excluding net promote income, in a range of $5.83 to $5.86 per share. The Street is looking for earnings of $2.74 per share for the year.
Previously, the company expects net earnings in a range of $3.00 to $3.15 per share, core funds from operation or core FFO in a range of $5.75 to $5.80 per share and core FFO, excluding net promote income, in a range of $5.80 to $5.85 per share.
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