Summary
Prologis, Inc. (PLD) reported a strong financial year in 2024, demonstrating resilience amidst a softening global logistics market. The company's robust portfolio, characterized by long-term leases with significant rent upside, continued to drive consistent rental income. Prologis' strategic focus on high-barrier, high-growth markets and its ability to leverage its scale and customer relationships remain key differentiators. The company successfully executed its development pipeline, contributing to portfolio growth, and further strengthened its balance sheet with a weighted average debt maturity of nine years and a strong liquidity position. Key operational highlights include robust rent growth on lease rollovers, contributing to same-store NOI. The company also made progress on its ESG initiatives, including commitments to renewable energy and sustainable building standards. While facing global economic uncertainties and geopolitical factors, Prologis entered 2025 with renewed customer leasing activity and a strategic capital business that supports its growth objectives. The company's diversified revenue streams, strong customer base, and commitment to innovation position it well for continued long-term value creation.
Financial Highlights
39 data points| Revenue | $8.20B |
| Operating Expenses | -$2.10B |
| Operating Income | $4.42B |
| Interest Expense | $863.93M |
| Net Income | $3.73B |
| EPS (Basic) | $4.02 |
| EPS (Diluted) | $4.01 |
| Shares Outstanding (Basic) | 926.17M |
| Shares Outstanding (Diluted) | 953.59M |
Key Highlights
- 1Prologis reported strong operating results in 2024, with its operating portfolio occupancy at 95.8% and a rent change on leases commenced during the year of 68.7% on a net effective basis.
- 2The company generated net proceeds of $4.8 billion and realized net gains of $1.3 billion from property contributions to co-investment ventures and third-party sales.
- 3Prologis completed a significant acquisition in Mexico through its publicly traded vehicle, FIBRA Prologis, expanding its footprint.
- 4Total available liquidity stood at $7.4 billion at year-end 2024, providing significant financial flexibility.
- 5The company's balance sheet remains strong with total debt of $30.9 billion and a weighted average remaining maturity of 9 years at a weighted average interest rate of 3.1%.
- 6Prologis is committed to ESG principles, with specific goals for LED lighting and solar generation capacity installation by 2025.
- 7The company met its goal to train 25,000 individuals by 2025 through its Community Workforce Initiative (CWI) program ahead of schedule.