Prologis Q2 Core FFO Declines - Quick Facts

(RTTNews) - Prologis (PLD) reported that its second quarter core FFO to stockholders/unitholders declined to $1.28 billion from $1.74 billion, prior year. Core FFO attributable to common stockholders/unitholders was $1.34 compared to $1.83. Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income or Expense, was $1.36 compared to $1.25. AFFO attributable to common stockholders/unitholders declined to $1.07 billion from $1.69 billion, last year. Net earnings per share was $0.92 for the second quarter of 2024 compared with $1.31 for the second quarter of 2023.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.59, for the quarter. Analysts' estimates typically exclude special items.

Total revenues decreased to $2.01 billion from $2.45 billion, previous year. Rental and other revenues increased to $1.85 billion from $1.65 billion. Analysts on average had estimated $1.87 billion in revenue.

For fiscal 2024, the company now projects: core FFO attributable to common stockholders/unitholders in a range of $5.39 to $5.47, revised from prior guidance range of $5.37 to $5.47; core FFO to common stockholders/unitholders, excluding Net Promote Income or Expense, in a range of $5.46 to $5.54 revised from prior range of $5.45 to $5.55; and net earnings to common stockholders in a range of $3.25 to $3.45 revised from prior range of $3.15 to $3.35.

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