Prologis, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016
For the year, the company reported net earnings attributable to common stockholders of $862,788,000 or $1.64 diluted per share on total revenue of $2,197,074,000 against $622,235,000 or $1.24 diluted per share on total revenue of $1,760,787,000 a year ago. Operating income was $380,172,000 against $319,808,000 a year ago. Earnings before income taxes were $948,605,000 against $713,628,000 a year ago. Diluted core FFO was $1,186,009,000 against $970,340,000 a year ago. Core FFO was $1,181,290,000 or $2.23 diluted per share against $953,147,000 or $1.88 diluted per share a year ago. AFFO was $1,287,869,000 against $903,253,000 a year ago. Adjusted EBITDA was $1,936,351,000 compared to $1,629,614 a year ago. FFO, as defined by the company was $1,308,542,000 against $887,509,000 a year ago. Diluted adjusted net earnings was $8744,284,000 against $626,871,000 a year ago.
For the full year 2016, the company provided core FFO guidance range of $2.50 to $2.60 per diluted share. The company expects to recognize net earnings, for GAAP purposes, of $0.28 to $0.36 per share. GAAP same-store NOI-Prologis share is expected to grow between 3.5% and 4.5%.