Prologis posts strong Q1
Prologis reported strong first-quarter results, signing 64 million square feet of leases and ending the quarter at 95.3% occupancy. The company posted diluted EPS of $1.05 on $2.30 billion of revenue and raised its full‑year occupancy/FFO outlook, signalling outsized leasing activity at scale this quarter. (prnewswire.com) (benzinga.com)
Prologis opened 2026 with record leasing and a higher full-year forecast after a stronger-than-expected first quarter. (ir.prologis.com) The warehouse landlord said April 16 that it signed 64 million square feet of leases in the quarter ended March 31 and finished the period 95.3% occupied. Net earnings were $1.05 a share on $2.30 billion of revenue. (ir.prologis.com) Core funds from operations, the cash-flow measure real estate investment trusts use alongside earnings, came in at $1.50 a share, up from $1.42 a year earlier. Prologis raised its 2026 core funds from operations outlook to $6.07 to $6.23 a share from $6.00 to $6.20. (prnewswire.com) Prologis is the largest publicly traded owner of logistics warehouses, with buildings used to store and move goods near ports, highways and major cities. Its occupancy and rent growth are closely watched as a read on demand from retailers, manufacturers and delivery networks. (prologis.com) (ir.prologis.com) The company said retention stayed high at nearly 76%, and management described the first-quarter occupancy dip as seasonal rather than a sign of weakening demand. It also lifted its average occupancy outlook for 2026 to 95% to 95.75%. (marketbeat.com) (benzinga.com) Management also used the quarter to push further into data centers, saying it had $1.3 billion of build-to-suit development starts tied to that business. The earnings release described the quarter as one that both expanded leasing and scaled the company’s data center platform. (benzinga.com) (ir.prologis.com) Analysts had been looking for about $1.48 in quarterly core funds from operations per share, according to Zacks, so the reported figure came in modestly ahead. MarketBeat said revenue also topped Wall Street estimates for the quarter. (msn.com) (marketbeat.com) For a company that measures activity in tens of millions of square feet, the quarter pointed to customers still taking space at scale even after two years of slower freight and industrial demand. Prologis now heads into the rest of 2026 with higher guidance and occupancy still above 95%. (ir.prologis.com)
