Prologis Trims FY24 Outlook - Update

(RTTNews) - While reporting its financial results for the first quarter on Wednesday, logistics real estate firm Prologis Inc. (PLD) trimmed its net earnings and core funds from operations outlook for the full-year 2024.

For fiscal 2024, the company now forecasts net earnings in a range of $3.15 to $3.35 per share, core funds from operation or core FFO in a range of $5.37 to $5.47 per share and core FFO, excluding net promote income, in a range of $5.45 to $5.55 per share.

Previously, the company expected net earnings in the range of $3.20 to $3.45 per share, core funds from operation or core FFO in the range of $5.42 to $5.56 per share and core FFO, excluding net promote income, in the range of $5.50 to $5.64 per share.

On average, five analysts polled by Thomson Reuters expect the company to report earnings of $2.49 per share for the year. Analysts' estimates typically exclude special items.

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