Prologis Q1 Core FFO $1.28/share, cuts 2024 guidance midpoints on occupancy and same-store NOI

Prologis, Inc.

2024-Q1 EPS reported $0.63 revenue$1,956,621,000

Q1 Core FFO per diluted share $1.28 vs $1.22 YoY; net earnings $0.63 vs $0.50.
2024 Core FFO guidance revised to $5.37-$5.47 from $5.42-$5.56, midpoint down ~1.3%.
Cash Same Store NOI growth guidance lowered to 6.25%-7.25% from 8%-9%; avg occupancy cut 75 bps.
Development starts guidance reduced to $2.5B-$3.0B from $3.0B-$3.5B; net sources/uses improved.
CEO cites high rates and geopolitical uncertainty dampening leasing; Southern California headwinds.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Prologis, Inc. reported first quarter 2024 results: net income $0.63, EPS $0.63.

Period: first quarter 2024
Net income: $0.63
EPS: $0.63
Result: reported results

Exact text from the filing

Net earnings per diluted share was $0.63 for the first quarter of 2024

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Source: SEC EDGAR

accession 0000950170-24-044928

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