Prologis, Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net earnings attributable to common stockholders of $408,609,000 or $0.81 diluted per share on total revenue of $450,865,000 against net loss attributable to common stockholders of $59,057,000 or $0.12 diluted per share on total revenue of $436,764,000 a year ago. Operating income was $74,956,000 against $71,479,000 a year ago. Earnings before income taxes were $427,370,000 against $31,684,000 a year ago. Earnings from continuing operations were $427,724,000 against $9,485,000 a year ago. Consolidated net earnings were $427,724,000 against $68,269,000 a year ago. Core FFO was $246,421,000 or $0.48 diluted per share against $215,055,000 or $0.43 diluted per share a year ago. Core AFFO was $189,985,000 against $147,554,000 a year ago. FFO was $284,197,000 against $212,599,000 a year ago. Diluted core FFO was $250,727,000 against $219,434,000 a year ago. Adjusted EBITDA was $367,240,000 compared to $366,664 a year ago.

For the year, the company reported net earnings attributable to common stockholders of $622,235,000 or $1.24 diluted per share on total revenue of $1,760,787,000 against $315,422,000 or $0.64 diluted per share on total revenue of $1,750,486,000 a year ago. Operating income was $319,808,000 against $304,412,000 a year ago. Earnings before income taxes were $713,628,000 against $336,262,000 a year ago. Earnings from continuing operations were $739,284,000 against $229,529,000 a year ago. Consolidated net earnings were $739,284,000 against $353,049,000 a year ago. Diluted core FFO was $970,340,000 against $832,992,000 a year ago. FFO was $887,509,000 against $855,173,000 a year ago. Core FFO was $953,147,000 or $1.88 diluted per share against $813,224,000 or $1.65 diluted per share a year ago. Core AFFO was $753,475,000 against $580,844,000 a year ago. Adjusted EBITDA was $1,463,383,000 compared to $1,384,274 a year ago.

For the full year 2015, the company provided core FFO guidance range of $2.04 to $2.12 per diluted share, representing 11% growth at the midpoint compared with full year 2014. The company expects to recognize net earnings, for GAAP purposes, of $0.40 to $0.48 per share. The company is forecasting that the increase in NOI from development stabilizations will be the large driver of its 2015 core FFO growth. GAAP same-store NOI on an owned and managed basis is expected to grow between 3.5% and 4.5%.