First Industrial Realty Trust Inc. (NYSE:FR) Q1 2018 Earnings Conference Call - Preliminary Transcript

Apr 25, 2018 • 10:30 am ET

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First Industrial Realty Trust Inc. (NYSE:FR) Q1 2018 Earnings Conference Call - Preliminary Transcript

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Presentation
Executive
Scott Musil

is $26 million to $27 million and this guidance range excludes the $1.3 million severance charge recognized in the first quarter.

Guidance includes the anticipated 2018 cost related to our completed and under construction developments at March 31st, and our newly announced start of our second building at our I-78/81 project. And total for the full year 2018, we expect to capitalize about $0.04 per share of interest related to our development. Our guidance does not reflect the impacted any future sales, acquisition to development starts after this earnings call, other than the 250,000 square feet, second quarter start in Pennsylvania that Peter discuss, they impacted any future debt issuances, debt repurchase or repayments. The impact of any future gains related to the final settlement of two insurance claims from damaged properties. And guidance also excludes any future and every compliant gains or losses, the impact of impairments and the potential issuance of equity.

With that, let me turn it back over to Peter.

Executive
Peter Baccile

Thanks, Scott. 2018 is off to a strong start. We have a great opportunity to deliver value and cash flow growth from maximizing lease economics and through lease up in our development pipeline as we capitalize on the favorable fundamentals and long-term demand drivers in our sector.

With that operator, would you please open it up for questions?