Prologis Q2 Revenue Jumps More Than 50%, Touts 'Predictable Growth For Years'
Portfolio Pulse from Nabaparna Bhattacharya
Prologis, Inc. (NYSE:PLD) reported Q2 rental and other revenues of $1.65 billion, up 50.7% YoY, but missed estimates of $1.69 billion. The company's core funds from operations per diluted share was $1.83 for Q2, higher than $1.11 a year ago. The company raised FY23 guidance and expects core FFO attributable to common stockholders to be in the range of $5.56 to $5.60. PLD shares are trading higher by 1.07% to $129.35 in the premarket.
July 18, 2023 | 3:00 pm
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Prologis reported Q2 revenues of $1.65 billion, up 50.7% YoY, but missed estimates. The company raised FY23 guidance and expects core FFO attributable to common stockholders to be in the range of $5.56 to $5.60. PLD shares are trading higher in the premarket.
Despite missing revenue estimates, Prologis reported a significant YoY increase in Q2 revenues and raised its FY23 guidance. This positive outlook, along with the increase in core FFO per share, is likely driving the premarket increase in PLD shares.
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