Prologis Boosts Fiscal Year Outlook as Warehouse Rebound Continues

Published: 2026-04-16 08:28:14 ET PLD

Published on 04/16/2026 at 08:28 am EDT

By Nicholas G. Miller

Prologis reported higher first-quarter revenue and raised its fiscal-year outlook as warehouse demand continues to rebound.

The industrial real-estate company reported first-quarter earnings of $1.05 a share, up from 63 cents in the year-earlier quarter.

Core funds from operations were $1.50 a share. Analysts polled by FactSet had expected $1.49 a share.

Total revenue rose to $2.3 billion from $2.14 billion the year before.

"We delivered record lease signings of 64 million square feet in our logistics business this quarter, reflecting the strength of our platform and resilient customer demand," said Chief Executive Daniel Letter.

The company raised its fiscal-year earnings outlook to $3.80 to $4.05 a share, up from its previous forecast of $3.70 to $4 a share. It also boosted its guidance for core funds from operations to $6.07 to $6.23 a share, from its prior outlook of $6 to $6.20 a share. Analysts are looking for full-year core funds from operations of $6.13 a share.

Write to Nicholas G. Miller at [email protected]

(END) Dow Jones Newswires

04-16-26 0827ET