Prologis beats by $0.02, beats on revs; guides FY16 FFO in-line :
- Reports Q1 (Mar) funds from operations of $0.61 per share, $0.02 better than the Capital IQ Consensus of $0.59; revenues rose 31.0% year/year to $606.3 mln vs the $555.75 mln Capital IQ Consensus.
- "We are off to an excellent start this year," said Hamid Moghadam, chairman and CEO, Prologis. "Operating conditions remain extremely healthy in the majority of our markets, above our expectations. Consumption and e-commerce are the key drivers of our growth and both continue to grow faster than underlying economies would suggest. These factors, combined with our focused investment strategy, have resulted in strong operational and financial results in the first quarter."
- Co issues in-line guidance for FY16, sees FFO of $2.50-2.60 vs. $2.57 Capital IQ Consensus Estimate.
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