Strong execution amid uncertainty
Prologis today announced the following results for the quarter ended March 31, 2025, as compared to the corresponding period in 2024:
- Net earnings per diluted share was $0.63, unchanged.
- Core funds from operations (Core FFO)* per diluted share was $1.42 and increased 10.9%.
- Core FFO, excluding Net Promote Income (Expense)* per diluted share was $1.43 and increased 9.2%.
“We delivered exceptional results this quarter—signing leases totaling 58 million square feet, breaking ground on new build-to-suits with strategic customers and expanding our power capacity to support the growing demand for data centers,” said Dan Letter, president of Prologis.
Hamid R. Moghadam, co-founder and CEO of Prologis, commented: “In the near term, policy uncertainty is making customers more cautious. But over the long term, limited new supply and high construction costs support continued rent growth. We’re confident in the strength and resilience of our business.”
“We operate with a fortress balance sheet and ample liquidity to navigate any environment,” noted Timothy D. Arndt, chief financial officer of Prologis. “We’re ready to move quickly as opportunities emerge.”