From Yahoo Finance: 2025-04-16 08:43:00

Prologis, a logistics warehouse operator, exceeded first-quarter expectations with core funds from operations of $1.42 per share, beating estimates by 4 cents. Revenue rose 9% to $2.14 billion. New leases covered 65.1 million square feet, up 35%, but occupancy fell to 94.9%. The company maintained full-year guidance for core FFO between $5.65 to $5.81. CEO Hamid Moghadam expressed confidence in the business despite policy uncertainty.
The company also reduced its guidance for new development starts in 2025 by 30% to a range of $1.5 billion to $2 billion. Prologis will host a call at noon EDT on Wednesday to discuss the first-quarter results.

Read more: First look: Prologis Q1 earnings