ProLogis Q3 adjusted earnings Beat Estimates

(RTTNews) - ProLogis (PLD) released earnings for third quarter that dropped from last year.

The company's bottom line came in at $346 million, or $0.60 per share. This compares with $876 million, or $1.63 per share, in last year's third quarter.

Excluding items, ProLogis reported adjusted earnings of $427 million or $0.72 per share for the period.

Analysts had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.1% to $682 million from $603 million last year.

ProLogis earnings at a glance:

-Earnings (Q3): $427 Mln. vs. $370 Mln. last year. -EPS (Q3): $0.72 vs. $0.67 last year. -Analysts Estimate: $0.35 -Revenue (Q3): $682 Mln vs. $603 Mln last year.

-Guidance: Full year EPS guidance: $3.01 to $3.03