Prologis Inc (NYSE:PLD) reported second-quarter earnings below Wall Street forecasts and lowered its full-year profit guidance. However, the revised outlook surpassed consensus expectations due to “strong” leasing demand.
This upbeat forecast helped lift Prologis shares by 1.55% to $110 during premarket trading on light volume.
The logistics-focused real estate investment trust posted Q2 earnings per share of $0.61, missing the analyst consensus of $0.69.
Revenue increased to $2.04 billion, beating the $2.01 billion estimate.
Prologis trimmed its 2025 EPS guidance to a range of $3.00 to $3.15, down from a prior target of at least $3.45 but still well above the average analyst estimate of $2.59.
CEO Hamid Moghadam highlighted strong operational execution and solid customer relationships during the quarter, while President Dan Letter pointed to an all-time high leasing pipeline.
“What we’re hearing from customers, especially the larger ones, is clear: they’re planning, engaging and increasingly ready to act,” Letter said.
“These trends are evident in both our leasing and build-to-suit activity—and we’re in a strong position to meet that demand.”
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