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Prologis Boosts FY23 Core FFO Outlook - Update

October 17, 2023 — 08:15 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - While reporting its financial results for the third quarter on Tuesday, logistics real estate firm Prologis Inc. (PLD) raised its core funds from operations outlook for the full-year 2023.

For fiscal 2023, the company now projects net earnings in a range of $3.30 to $3.35 per share, core funds from operation or core FFO in a range of $5.58 to $5.60 per share and core FFO, excluding net promote income, in a range of $5.08 to $5.10 per share.

Previously, the company expected net earnings in the range of $3.30 to $3.40 per share, core funds from operation or core FFO in the range of $5.56 to $5.60 per share and core FFO, excluding net promote income, in the range of $5.06 to $5.10 per share.

On average, six analysts polled by Thomson Reuters expect the company to report earnings of $2.94 per share for the year. Analysts' estimates typically exclude special items.

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