Prologis Q3 Earnings Spotlight: Business News and Financial Results
Prologis Q3 2024 Earnings Overview
Prologis, Inc. (NYSE: PLD), a prominent real estate investment trust, announced its financial results for the third quarter of 2024, revealing a strong performance. Net earnings per share soared to $1.08 from $0.80 a year earlier, reflecting the company's robust progress in an inflationary environment.
Key Financial Metrics
- Net income reached $1.0 billion, significantly up from $746 million during the previous year.
- Total revenues increased to approximately $2.04 billion, compared to $1.92 billion in Q3 2023.
- Core funds from operations (FFO) stood at $1.37 billion for the quarter, up from $1.24 billion last year.
- Core FFO per share rose to $1.45, compared to $1.33 per share a year ago.
Debt Issuance and Market Position
During this period, Prologis issued an aggregate of $4.6 billion in debt at a weighted average interest rate of 4.6%. This strategic move enhances financial flexibility as Prologis continues to thrive in the competitive real estate landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.