Summary
Prologis, Inc. (PLD) reported its third-quarter results ending September 29, 2025. The company demonstrated resilience with solid financial performance, driven by strong rental revenue growth and efficient operations. Total revenues for the nine months ended September 30, 2025, increased to $6.54 billion from $6.00 billion in the prior year, reflecting the continued demand for logistics facilities. Net earnings attributable to common stockholders for the nine months decreased year-over-year to $1.92 billion from $2.45 billion, impacted by lower gains on real estate dispositions compared to the prior year. Despite some economic uncertainties, Prologis maintained high occupancy rates across its portfolio, which stood at 95.2% at quarter-end. The company continues to benefit from its "lease mark-to-market" opportunity, with significant upside in resetting in-place leases to current market rates upon expiration. Strategic capital segment revenues also showed growth, indicating the success of its co-investment ventures and asset management services. Prologis maintained a strong liquidity position with $7.5 billion in total available liquidity, underscoring its financial stability and capacity for future investments and operations.
Financial Highlights
34 data points| Revenue | $2.21B |
| Operating Expenses | $562.63M |
| Operating Income | $940.26M |
| Net Income | $764.27M |
| EPS (Basic) | $0.82 |
| EPS (Diluted) | $0.82 |
| Shares Outstanding (Basic) | 928.85M |
| Shares Outstanding (Diluted) | 956.60M |
Key Highlights
- 1Total revenues for the nine months ended September 30, 2025, increased to $6.54 billion, up from $6.00 billion in the same period of 2024.
- 2Net earnings attributable to common stockholders for the nine months ended September 30, 2025, were $1.92 billion, compared to $2.45 billion in the prior year, reflecting lower real estate disposition gains.
- 3Portfolio occupancy remained strong at 95.2% as of September 30, 2025.
- 4The company reported a "lease mark-to-market" upside of approximately 19% on an NER basis, indicating significant potential for future rent growth.
- 5Total liquidity stood at $7.5 billion at September 30, 2025, including $6.3 billion in available credit facilities and $1.2 billion in cash and cash equivalents.
- 6Consolidated development starts totaled $2.0 billion for the nine months ended September 30, 2025, with 68.3% being build-to-suit projects.
- 7Debt issuance in the first nine months of 2025 included $2.9 billion of senior notes, with a weighted average interest rate of 4.3%.