Prologis reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Prologis announced earnings per share of $0.83 on revenue of $878.8M. Analysts polled by anticipated EPS of $0.36 on revenue of $858.89M. That with comparison to EPS of $0.57 on revenue of $696.81M in the same period a year before. Prologis had reported EPS of $0.63 on revenue of $723.86M in the previous quarter. Analysts are expecting EPS of $0.55 and revenue of $954.35M in the upcoming quarter.
Prologis shares are down 0.72% from the beginning of the year , still down 11.31% from its 52 week high of $99.79 set on February 21. They are outperforming the S&P 500 which is down 12.99% year to date.
Prologis shares lost 0.59% in pre-market trade following the report.
Prologis follows other major Services sector earnings this month
Prologis's report follows an earnings beat by McDonald’s on January 29, who reported EPS of $1.97 on revenue of $5.35B, compared to forecasts EPS of $1.96 on revenue of $5.31B.
Walgreens Boots had beat expectations on April 2 with second quarter EPS of $1.52 on revenue of $35.82B, compared to forecast for EPS of $1.46 on revenue of $35.27B.
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