ProLogis Earnings: Here’s Why Investors are Buying Shares Now
ProLogis (NYSE:PLD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.93%.
ProLogis Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 185.71% to $0.40 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Decreased 33.1% to $490.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ProLogis reported adjusted EPS income of $0.40 per share. It beat the average revenue estimate of $221.07 million.
Quoting Management: “We concluded several priorities in the first quarter and are beginning to capitalize on growth opportunities,” said Hamid R. Moghadam, chairman and CEO, Prologis. “Real estate fundamentals are solid and demand for our product is leading to rental growth. For the first time in 17 quarters, rent change on rollovers is positive.”
Key Stats (on next page)…
Revenue decreased 0.16% from $491.41 million in the previous quarter. EPS increased 207.69% from $0.13 in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)