First Industrial Realty Trust, Inc. (NYSE:FR) Q3 2024 Earnings Conference Call October 17, 2024 11:00 AM ET
Company Participants
Art Harmon - SVP, IR & Marketing
Peter Baccile - President and CEO
Scott Musil - CFO
Christopher Schneider - EVP, Operations & CIO
Peter Schultz - EVP
Johannson Yap - CIO
Conference Call Participants
Blaine Heck - Wells Fargo
Craig Mailman - Citi
Vikram Malhotra - Mizuho
Caitlin Burrows - Goldman Sachs
Rich Anderson - Wedbush
Robert Stevenson - Janney
Nick Thillman - Baird
Vince Tibone - Green Street
Michael Mueller - JPMorgan
Nicholas Yulico - Scotiabank
Brendan Lynch - Barclays
Operator
Good day, and welcome to the First Industrial Realty Trust, Inc. Third Quarter Results Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Art Harmon, Senior Vice President of Investor Relations and Marketing. Please go ahead, sir.
Art Harmon
All right. Thank you, Dave. Hello, everybody, and welcome to our call. Before we discuss our third quarter results and our updated guidance for the year, let me remind everyone that our call may include forward-looking statements as defined by Federal Securities Laws. These statements are based on management's expectations, plans, and estimates of our prospects. Today's statements may be time sensitive and accurate only as of today's date, October 17, 2024. We assume no obligation to update our statements or the other information we provide.
Actual results may differ materially from our forward-looking statements and factors which could cause this are described in our 10-K and other SEC filings. You can find a reconciliation of non-GAAP financial measures discussed in today's call in our supplemental report and our earnings release. The supplemental report earnings release and our SEC filings are available at firstindustrial.com under the Investors tab.
Our call will begin with remarks by Peter Baccile, our President and Chief Executive Officer; and Scott Musil, Chief Financial Officer, after which we'll open it up for your questions. Also with us today are Jojo Yap, Chief Investment Officer; Peter Schultz, Executive Vice President; Chris Schneider, Executive Vice President of Operations; and Bob Walter, Executive Vice President of Capital Markets and Asset Management.
Now let me turn the call over to Peter
Peter Baccile
Thank you, Art, and thank you all for joining us today. The First Industrial team delivered another great quarter with solid operating metrics, along with some important new leases and capital deployment activity. We continue to drive cash flow growth from our portfolio via contractual escalations in our leases, capturing embedded rent growth, on rollovers and continued development leasing, all of which position us to deliver strong growth in funds from operations.