Prologis This autumn earnings surge, beats estimates on information heart sale


Prologis (NYSE:PLD) Inc, the worldwide chief in logistics actual property, reported fourth-quarter earnings that considerably exceeded analyst expectations, pushed by greater positive aspects and promotes, together with a notable information heart sale.

The corporate introduced fourth-quarter internet earnings per diluted share of $1.37, a 101.5% improve from the identical interval final yr and considerably above the analyst estimate of $0.71. Income for the quarter got here in at $2.2 billion, surpassing the consensus estimate of $1.96 billion.

Core funds from operations (Core FFO) per diluted share, a key metric for actual property funding trusts, rose 19% to $1.50. Excluding internet promote earnings, Core FFO per diluted share elevated 10.1% to $1.42.

For the total yr 2024, Prologis reported internet earnings per diluted share of $4.01, a 21.9% improve YoY. Core FFO per diluted share barely decreased by 0.9% to $5.56, whereas Core FFO excluding internet promote earnings rose 8.4% to $5.53.

Wanting forward, Prologis offered steering for 2025, projecting internet earnings attributable to frequent stockholders between $3.45 and $3.70 per diluted share. The corporate expects Core FFO attributable to frequent stockholders/unitholders to vary from $5.65 to $5.81 per diluted share.

Hamid R. Moghadam, co-founder and CEO, expressed optimism about market situations, noting, “Publish-election leasing exercise has been robust, and our ongoing conversations with clients assist our expectation that the market is nearing an inflection level.”

This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.

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