Prologis reports 10.3% increase in Q1 revenue

Total revenues in Q1 2018 reached $694m, an increase of 10.3% compared to the same period the year before.

Rental and other revenues reached $561m, compared to $572m for the same period in 2017 and strategic capital revenues amounted to $133m.

Net earnings attributable to common stockholders were $366m, an increase of 80% compared to the same period in 2017.

Hamid R. Moghadam, chairman and CEO, Prologis, commented: “Earlier this year, we established sector-leading 2018 guidance, and our quarterly results reflect the first step in delivering on that plan. Market conditions remain extremely healthy and our strategy is set. Going forward, it’s all about execution.”

“Our first quarter results exceeded our expectations,” added Thomas S. Olinger, chief financial officer, Prologis. “The combination of strong operations and higher net promote income has led us to raise the midpoint of our full-year guidance ranges for both earnings and same store NOI.”

Source: Prologis



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