Real estate investment trust Prologis, Inc. (NYSE: PLD) on Wednesday reported an increase in revenues and a decline in earnings for the third quarter of fiscal 2025.
- Total third-quarter revenues moved up to $2.21 billion from $2.04 billion in the same period last year
- Net income attributable to shareholders came in at $763 million in Q3, vs. $1.0 billion in the year-ago quarter
- Earnings per share decreased to $0.82 in the September quarter from $1.08 a year earlier
- Core FFO attributable to common stockholders was $1.49 per share in Q3, compared to $1.43 per share last year
- Core FFO, excluding net promote income, was $1.50 per share in Q3, up 3.4% year-over-year
- During the quarter, the company issued an aggregate of $2.3 billion of debt, together with its co-investment ventures
- At the end of the quarter, total available liquidity was approximately $7.5 billion
- For fiscal 2025, the company expects earnings per share of $3.40-3.50, higher than its previous guidance of $3.00-3.15
- Prologis raised its full-year Core FFO per share forecast to $5.78-5.81 from the previous outlook of $5.75-5.80