Prologis, Inc. (NYSE:PLD) unveiled its third quarter earnings results on Tuesday 20th October 2020 before market open.
Prologis, Inc. unveiled quarterly income of $ 0.40 per share, from the revenue of $ 1,083.00 million. On adjusted basis, the firm reported income for the quarter of $ 0.90 per share.
The consensus estimate are $ 0.32 income per share from revenues of $ 955.77 million.
The third quarter financial report outlined, earnings beat street analysts by $ 0.58 or 181.25 percent, where as revenues outshined analysts estimates by $ 127.23 million or 13.31 percent.
On the other hand, The quarterly earnings surge 43.66 percent compared with the same quarter last year, at the same time revenues gained 14.97 percent versus third quarter of last year.
Hamid R. Moghadam, chairman and CEO, Prologis, said, Activity in our portfolio is robust and broadening – a reflection of increased demand in the quarter across multiple sectors, the adoption of e-commerce and the need for higher levels of inventory. We remain focused on addressing customer pain points through our investments in data, labor solutions, technology and innovation.
Further, the company updates 2020 earnings estimate from the previous range of $ 2.06 ~ $ 2.18 per share to a new range $ 2.20 ~ $ 2.24 per share.Wall street analysts expected 2020 income of $ 1.78 per share on revenue of $ 3747.41 million.
