The company said net earnings per diluted share for Q1 2024 was $0.63 (versus $0.50 for Q1 2023), and Core FFO per diluted share was $1.28 (versus $1.22 a year earlier).

1. 01

   The company said net earnings per diluted share for Q1 2024 was $0.63 (versus $0.50 for Q1 2023), and Core FFO per diluted share was $1.28 (versus $1.22 a year earlier).

2. 02

   Prologis said average occupancy for Owned & Managed in Q1 was 96.8%, leases commenced totaled 48.1MSF, and Cash Same Store NOI on a Prologis Share basis was 5.7%, impacted by about 175 basis points of one-time items.

3. 03

   The company lowered its full-year Core FFO outlook to $5.37 to $5.47 per share from $5.42 to $5.56, and cut its Cash Same Store NOI outlook to 6.25% to 7.25% from 8.00% to 9.00%. It said it expects net absorption in the upcoming quarters to be lower than its prior expectations.

4. 04

   Prologis said it and its co-investment ventures issued $4.1 billion of debt in Q1 at a weighted average interest rate of 4.7% and a weighted average term of 9.5 years. Debt as a percentage of total market capitalization was 21.0% as of March 31, 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.