Dream Industrial Real Estate Investment Trust
TSX:DIR.UN
Income Statement
Earnings Waterfall
Dream Industrial Real Estate Investment Trust
Revenue
|
437.6m
CAD
|
Cost of Revenue
|
-103.4m
CAD
|
Gross Profit
|
334.2m
CAD
|
Operating Expenses
|
-45.7m
CAD
|
Operating Income
|
288.5m
CAD
|
Other Expenses
|
-184.2m
CAD
|
Net Income
|
104.3m
CAD
|
Income Statement
Dream Industrial Real Estate Investment Trust
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
143
N/A
|
155
+8%
|
160
+4%
|
163
+2%
|
166
+2%
|
169
+2%
|
174
+3%
|
177
+2%
|
177
0%
|
177
+0%
|
177
0%
|
176
0%
|
175
-1%
|
174
-1%
|
171
-1%
|
170
-1%
|
172
+1%
|
169
-2%
|
166
-2%
|
163
-2%
|
160
-2%
|
166
+3%
|
176
+6%
|
186
+6%
|
195
+5%
|
207
+6%
|
216
+4%
|
226
+4%
|
236
+5%
|
245
+4%
|
255
+4%
|
272
+7%
|
290
+7%
|
312
+8%
|
333
+7%
|
350
+5%
|
370
+6%
|
389
+5%
|
409
+5%
|
426
+4%
|
438
+3%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(44)
|
(48)
|
(51)
|
(53)
|
(54)
|
(54)
|
(56)
|
(58)
|
(58)
|
(58)
|
(58)
|
(58)
|
(57)
|
(57)
|
(56)
|
(55)
|
(56)
|
(53)
|
(51)
|
(49)
|
(46)
|
(47)
|
(51)
|
(53)
|
(56)
|
(60)
|
(63)
|
(67)
|
(69)
|
(71)
|
(71)
|
(70)
|
(72)
|
(75)
|
(78)
|
(84)
|
(88)
|
(91)
|
(97)
|
(101)
|
(103)
|
|
Gross Profit |
99
N/A
|
106
+7%
|
109
+3%
|
110
+1%
|
113
+3%
|
115
+2%
|
118
+2%
|
120
+2%
|
119
0%
|
119
N/A
|
119
0%
|
119
0%
|
117
-1%
|
116
-1%
|
116
-1%
|
115
0%
|
117
+1%
|
116
-1%
|
115
-1%
|
115
0%
|
114
0%
|
118
+4%
|
126
+6%
|
133
+6%
|
139
+5%
|
147
+6%
|
153
+4%
|
158
+4%
|
167
+5%
|
174
+4%
|
184
+6%
|
202
+10%
|
218
+8%
|
237
+9%
|
254
+7%
|
266
+5%
|
282
+6%
|
298
+6%
|
312
+5%
|
325
+4%
|
334
+3%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(32)
|
(34)
|
(21)
|
(22)
|
(23)
|
(24)
|
(27)
|
(27)
|
(62)
|
(63)
|
(64)
|
(64)
|
(31)
|
(30)
|
(29)
|
(28)
|
(26)
|
(26)
|
(26)
|
(26)
|
(28)
|
(28)
|
(27)
|
(26)
|
(28)
|
(30)
|
(32)
|
(34)
|
(33)
|
(34)
|
(35)
|
(39)
|
(39)
|
(72)
|
(75)
|
(46)
|
(45)
|
(49)
|
(48)
|
(48)
|
(46)
|
|
Selling, General & Administrative |
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(12)
|
(13)
|
(14)
|
(16)
|
(17)
|
(18)
|
(18)
|
(21)
|
(23)
|
(25)
|
(27)
|
(28)
|
(30)
|
(31)
|
(32)
|
(32)
|
(32)
|
|
Depreciation & Amortization |
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other Operating Expenses |
(25)
|
(26)
|
(13)
|
(14)
|
(14)
|
(16)
|
(18)
|
(18)
|
(53)
|
(53)
|
(54)
|
(54)
|
(21)
|
(20)
|
(19)
|
(18)
|
(17)
|
(16)
|
(16)
|
(16)
|
(18)
|
(16)
|
(15)
|
(14)
|
(16)
|
(17)
|
(18)
|
(18)
|
(16)
|
(16)
|
(16)
|
(18)
|
(16)
|
(47)
|
(47)
|
(17)
|
(15)
|
(18)
|
(16)
|
(16)
|
(14)
|
|
Operating Income |
67
N/A
|
73
+8%
|
88
+21%
|
88
+0%
|
90
+3%
|
91
+1%
|
91
+0%
|
92
+1%
|
57
-38%
|
57
-1%
|
55
-2%
|
54
-2%
|
87
+59%
|
87
+0%
|
87
+0%
|
88
+1%
|
91
+4%
|
90
-1%
|
88
-2%
|
88
0%
|
86
-2%
|
90
+5%
|
99
+9%
|
107
+9%
|
111
+4%
|
117
+5%
|
121
+3%
|
125
+3%
|
134
+7%
|
140
+4%
|
149
+6%
|
163
+9%
|
179
+10%
|
164
-8%
|
179
+9%
|
221
+23%
|
237
+7%
|
249
+5%
|
264
+6%
|
277
+5%
|
288
+4%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
18
|
(1)
|
(32)
|
(32)
|
(21)
|
(22)
|
(10)
|
(18)
|
(22)
|
(33)
|
(62)
|
(63)
|
(90)
|
(69)
|
(77)
|
(82)
|
(56)
|
(28)
|
(7)
|
14
|
60
|
2
|
66
|
29
|
74
|
127
|
41
|
115
|
77
|
126
|
282
|
391
|
491
|
832
|
831
|
750
|
489
|
2
|
(110)
|
(205)
|
(184)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(2)
|
0
|
0
|
0
|
(0)
|
(4)
|
(3)
|
(3)
|
(2)
|
(1)
|
(2)
|
(32)
|
(32)
|
0
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
|
Pre-Tax Income |
85
N/A
|
72
-16%
|
55
-23%
|
56
+2%
|
69
+24%
|
69
0%
|
81
+18%
|
74
-9%
|
36
-52%
|
24
-33%
|
(6)
N/A
|
(8)
-31%
|
(3)
+62%
|
18
N/A
|
10
-43%
|
6
-39%
|
35
+474%
|
62
+78%
|
82
+31%
|
100
+22%
|
144
+44%
|
92
-36%
|
165
+79%
|
136
-17%
|
185
+36%
|
240
+29%
|
158
-34%
|
238
+50%
|
209
-12%
|
265
+27%
|
428
+62%
|
522
+22%
|
639
+22%
|
996
+56%
|
1 010
+1%
|
971
-4%
|
725
-25%
|
250
-65%
|
153
-39%
|
70
-54%
|
103
+47%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(1)
|
(1)
|
(2)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
1
|
1
|
1
|
(0)
|
(0)
|
(0)
|
(2)
|
(0)
|
(1)
|
(1)
|
(3)
|
(4)
|
(9)
|
(9)
|
(7)
|
(12)
|
(9)
|
(12)
|
(18)
|
(22)
|
(30)
|
(40)
|
(43)
|
(41)
|
(19)
|
(5)
|
1
|
9
|
1
|
|
Income from Continuing Operations |
84
|
70
|
53
|
55
|
68
|
68
|
81
|
74
|
35
|
23
|
(6)
|
(8)
|
(3)
|
18
|
11
|
6
|
35
|
62
|
80
|
100
|
143
|
90
|
162
|
132
|
177
|
231
|
151
|
225
|
200
|
253
|
411
|
500
|
608
|
956
|
967
|
930
|
706
|
245
|
154
|
79
|
104
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
84
N/A
|
70
-16%
|
53
-25%
|
55
+5%
|
68
+23%
|
68
+0%
|
81
+20%
|
74
-9%
|
35
-53%
|
23
-33%
|
(6)
N/A
|
(8)
-25%
|
(3)
+65%
|
18
N/A
|
11
-41%
|
6
-48%
|
35
+521%
|
66
+91%
|
90
+35%
|
111
+23%
|
158
+42%
|
104
-34%
|
172
+65%
|
139
-19%
|
179
+29%
|
230
+28%
|
149
-35%
|
225
+52%
|
200
-11%
|
253
+27%
|
411
+62%
|
500
+22%
|
608
+22%
|
956
+57%
|
967
+1%
|
930
-4%
|
706
-24%
|
245
-65%
|
154
-37%
|
79
-49%
|
104
+32%
|
|
EPS (Diluted) |
3.22
N/A
|
1.27
-61%
|
0.65
-49%
|
0.66
+2%
|
1.17
+77%
|
0.78
-33%
|
0.93
+19%
|
0.85
-9%
|
0.46
-46%
|
0.3
-35%
|
-0.07
N/A
|
-0.08
-14%
|
-0.03
+63%
|
0.19
N/A
|
0.13
-32%
|
0.06
-54%
|
0.38
+533%
|
0.63
+66%
|
0.86
+37%
|
0.97
+13%
|
1.46
+51%
|
0.79
-46%
|
1.26
+59%
|
0.99
-21%
|
1.32
+33%
|
1.35
+2%
|
0.86
-36%
|
1.31
+52%
|
1.18
-10%
|
1.36
+15%
|
2
+47%
|
2.17
+9%
|
2.81
+29%
|
3.68
+31%
|
3.53
-4%
|
3.38
-4%
|
2.61
-23%
|
0.9
-66%
|
0.56
-38%
|
0.28
-50%
|
0.37
+32%
|