ProLogis Q1 adjusted earnings Beat Estimates

(RTTNews) - ProLogis (PLD) released earnings for first quarter that declined from the same period last year.

The company's profit totaled $365.82 million, or $0.49 per share. This compares with $489.42 million, or $0.70 per share, in last year's first quarter.

Excluding items, ProLogis reported adjusted earnings of $741.83 million or $0.97 per share for the period.

Analysts had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.3% to $1.15 billion from $0.98 billion last year.

ProLogis earnings at a glance:

-Earnings (Q1): $741.83 Mln. vs. $599.22 Mln. last year. -EPS (Q1): $0.97 vs. $0.83 last year. -Analysts Estimate: $0.41 -Revenue (Q1): $1.15 Bln vs. $0.98 Bln last year.

-Guidance: Full year EPS guidance: $3.98 to $4.04