ProLogis Q1 Profit Increases, beats estimates

(RTTNews) - ProLogis (PLD) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.15 billion, or $1.54 per share. This compares with $0.37 billion, or $0.49 per share, in last year's first quarter.

Excluding items, ProLogis reported adjusted earnings of $0.83 billion or $1.09 per share for the period.

Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.1% to $1.22 billion from $1.15 billion last year.

ProLogis earnings at a glance (GAAP) :

-Earnings (Q1): $1.15 Bln. vs. $0.37 Bln. last year. -EPS (Q1): $1.54 vs. $0.49 last year. -Analyst Estimate: $0.55 -Revenue (Q1): $1.22 Bln vs. $1.15 Bln last year.

-Guidance: Full year EPS guidance: $5.10 to $5.16