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FIBRA Prologis (FBBPF)
OTHER OTC:FBBPF
Earnings Data
Report Date
Apr 22, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.07Last Year’s EPS
0.11Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operational and financial performance driven by the full integration of Terrafina, robust leasing, high mark-to-market rent capture and record AFFO, alongside successful bond issuance and conservative balance sheet metrics. Offsetting risks include rising vacancy and supply in certain markets, cost inflation impacting O&M, modest weakness in manufacturing rents and a one-time distribution outcome driven by inflation and FX. Management provided constructive 2026 guidance, increased the distribution per CBFI and signaled disciplined acquisition plans with solid liquidity.Company Guidance
Successful Terrafina Acquisition and Integration
Achieved ~99.8% ownership of Terrafina in December 2025 and received authorization to cancel its CBFIs on Feb 18, 2026; Terrafina fully integrated, expected to enhance scale, liquidity, efficiency and generate synergies.
Record AFFO and FFO Growth
Full-year AFFO of $307M, up 36% YoY (record); FFO $376M for the year ($0.2339 per certificate), up 20% YoY; quarterly FFO $94M and AFFO $64.4M.
Strong Leasing and Occupancy Performance
Leased 2.2M sq ft in the quarter; new leasing activity 11.9M sq ft (up from 10M last quarter); net absorption 8.3M sq ft; occupancy average and period end approximately 97% with year-end occupancy guidance of 96.5%–98.5%.
High Mark-to-Market Rents and NOI Growth
Net effective rent change on rollover ~65% in the quarter and 59% over last 12 months; same-store cash NOI growth 9.4% and GAAP NOI growth ~14%; weighted-average mark-to-market spread ~40%.
Successful Capital Markets Execution
Issued two $500M international bonds (priced below Mexico sovereign), heavily oversubscribed and representing the tightest spread ever for FIBRA Prologis; proceeds used to refinance short-term debt and repay Terrafina bond in a debt-neutral transaction, preserving credit metrics.
Positive Guidance and Increased Distribution
2026 guidance: same-store cash NOI growth 9%–13%, annual CapEx 10%–12% of NOI, G&A $65M–$70M, FFO per CBFI $0.24–$0.26; guided distribution per CBFI set at $0.17 (more than a 13% increase vs 2025 dividend guidance).
Balance Sheet Flexibility and Liquidity
Loan-to-value target ~35% (current mid-20s); ~ $1B+ of available capacity; management emphasizes conservative financial profile and many levers to fund $200M–$500M planned acquisitions while maintaining discipline.
Market Leadership and Operational Execution
Mexico City and Guadalajara led markets (Mexico City alone 6.1M sq ft of new leasing activity); strong retention, weighted average lease term over 5 years; focus on high-quality logistics real estate and nearshoring structural trends.
FBBPF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FBBPF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $4.86 | $4.64 | -4.45% |
Oct 28, 2025 | $3.80 | $3.66 | -3.74% |
Jul 28, 2025 | $3.38 | $3.32 | -2.04% |
Apr 29, 2025 | $3.10 | $3.41 | +9.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does FIBRA Prologis (FBBPF) report earnings?
FIBRA Prologis (FBBPF) is schdueled to report earning on Apr 22, 2026, After Close (Confirmed).
What is FIBRA Prologis (FBBPF) earnings time?
FIBRA Prologis (FBBPF) earnings time is at Apr 22, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FBBPF EPS forecast?
FBBPF EPS forecast for the fiscal quarter 2026 (Q1) is 0.07.