Earnings Summary: Prologis reports higher Q3 2024 revenue and profit

Real estate investment trust Prologis, Inc. (NYSE: PLD) announced financial results for the third quarter of 2024, reporting higher revenues and net profit.

• Net earnings, on a per-share basis, increased to $1.08 per share in the third quarter of 2024 from $0.80 per share a year earlier
• Net income was $1.0 billion during the three months, vs. $746 million in the prior-year quarter
• Total revenues increased to about $2.04 billion in the September quarter from $1.92 billion in Q3 2023
• Core funds from operations were $1.37 billion in Q3, compared to $1.24 billion in the prior-year period
• Core FFO, excluding net promote income, for the quarter was $1.45 per share, compared to $1.33 per share a year earlier
• During the quarter, the company issued an aggregate of $4.6 billion of debt at a weighted average interest rate of 4.6%