Prologis Increases 2019 Profit View

(RTTNews) - Prologis Inc. (PLD) said that it increased its full-year 2019 profit guidance reflecting strong performance in the first-quarter.

"Our 2019 outlook is more optimistic today than it was 90 days ago. As a result, we are increasing our full-year guidance by more than 2% to reflect this view and our strong performance in the quarter," said Thomas Olinger, chief financial officer, Prologis.

The company raised its fiscal year 2019 net earnings outlook to a range of $2.08 - $2.18 from the prior estimation of $1.77 - $1.92 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.51 per share for 2019. Analysts' estimates typically exclude special items.

The company also increased its fiscal year 2019 Core funds from operation guidance to a range of $3.20 - $3.26 from the prior outlook of $3.12 - $3.20 per share.