Prologis Trims FY22 Outlook - Update

(RTTNews) - While reporting its financial results for the third quarter on Wednesday, logistics real estate firm Prologis Inc. (PLD) lowered its net earnings and core funds from operations outlook for the full-year 2022.

For fiscal 2022, the company now forecasts net earnings in a range of $4.25 to $4.30 per share, core funds from operation or core FFO in a range of $5.12 to $5.14 per share and core FFO, excluding net promote expense, in a range of $4.60 to $4.62 per share.

Previously, the company expected net earnings in a range of $5.15 to $5.25 per share, core funds from operation or core FFO in a range of $5.14 to $5.18 per share and core FFO, excluding net promote expense, in a range of $4.54 to $4.58 per share.

On average, five analysts polled by Thomson Reuters expect the company to report earnings of $3.75 per share for the year. Analysts' estimates typically exclude special items.