Real estate investment trust Prologis, Inc. (NYSE: PLD) on Tuesday announced financial results for the second quarter of 2023, reporting a sharp increase in earnings and revenues.
- Net earnings per share rose sharply to $1.31 in Q2 from $0.82 in the corresponding period of last year
- Core funds from operations per share was $1.83, compared with $1.11 for the same period in 2022
- Total revenues increased to $2.45 billion in the three-month period from $1.25 billion a year earlier
- Net earnings attributable to common stockholders was $1.22 billion, up from $610 million reported in Q2 2022
- For fiscal 2023, the management expects earnings per share to be in the range of $3.30 to $3.40
- Full-year core funds from operations are expected to increase 2.2% to the range of $5.56 per share to $5.60 per share
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