Prologis reports Q1 core FFO $1.52, consensus $1.48

Reports Q1 revenue $2.3B, consensus $2.12B. “We delivered record lease signings of 64 million square feet in our logistics business this quarter, reflecting the strength of our platform and resilient customer demand,” said CEO Daniel Letter. “We also advanced our data center platform with $1.3 billion of build-to-suit development starts, and we are scaling digital infrastructure and energy to support our next phase of growth.” “Through our Strategic Capital platform, new partnerships with GIC and La Caisse will expand our access to capital and enhance our ability to invest at scale while preserving balance sheet strength and financial flexibility,” said CFO Timothy Arndt. “Even amid an uncertain geopolitical environment, this combination of strong execution and capital strength underpins our increased Core FFO outlook.”