Prologis, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net earnings attributable to common stockholders was $59,057,000 or $0.12 diluted per share on revenue of $436,764,000 against net loss attributable to common stockholders of $228,713,000 or $0.50 diluted per share on revenue of $506,108,000 a year ago. Operating income was $71,479,000 against operating loss of $162,543,000 a year ago. Earnings before income taxes was $31,684,000 against loss before income taxes of $266,242,000 a year ago. Earnings from continuing operations was $9,485,000 against loss from continuing operations of $269,606,000 a year ago. Consolidated net earnings was $68,269,000 against consolidated net loss of $215,340,000 a year ago. Core FFO was $215,055,000 or $0.43 diluted per share against $195,816,000 or $0.42 diluted per share a year ago. Core AFFO was $147,554,000 against $110,786,000 a year ago. FFO was $216,978,000 or $0.42 diluted per share against negative FFO of $89,058,000 or $0.19 diluted per share a year ago. The year-over-year increase was primarily due to gains on the disposition of assets.

For the year, the company reported net earnings attributable to common stockholders was $315,422,000 or $0.64 diluted per share on revenue of $1,750,486,000 against net loss attributable to common stockholders of $80,946,000 or $0.18 diluted per share on revenue of $1,960,518,000 a year ago. Operating income was $304,412,000 against $92,983,000 a year ago. Earnings before income taxes was $336,262,000 against loss before income taxes of $102,817,000 a year ago. Earnings from continuing operations was $229,529,000 against loss from continuing operations of $106,397,000 a year ago. Consolidated net earnings was $353,049,000 against consolidated net loss of $30,472,000 a year ago. Core FFO was $813,224,000 or $1.65 diluted per share against $813,863,000 or $1.74 diluted per share a year ago. Core AFFO was $580,844,000 against $563,180,000 a year ago. FFO was $874,941,000 or $1.73 diluted per share against negative FFO of $552,662,000 or $1.19 diluted per share a year ago.

For 2014, the company expects core FFO range of $1.74 to $1.82 per diluted share. On a GAAP basis, the company expects net income to range between $0.02 to $0.10 per share. GAAP same-store NOI to increase between 3% and 4%. The company expects G&A to range between $230 million and $240 million. This is an increase of 2.5% at the midpoint, which is about half of the expected growth of AUM for 2014. For capital deployment, 2014 forecast is between $2.3 billion and $3.2 billion.