Prologis, Inc. (PLD) Earnings Call Transcripts
Prologis, Inc.'s Latest Earnings Call - Q2 FY2026
In Q2 2026, Prologis, Inc. reported strong performance with core FFO of $1.63 per share, exceeding expectations and prompting an increase in full-year guidance. Revenue growth was driven by record leasing activity of 67 million square feet and a notable increase in occupancy to 95.5%. The company raised its net earnings guidance to a range of $4.40 to $4.55 per share, reflecting a robust outlook for logistics and data center demand, alongside strategic capital initiatives.
Reported metrics
| Metric | Value |
|---|---|
| Core FFO | $1.63 (beat) |
| Occupancy Rate | 95.5% (positive) |
| Net Effective Same-Store NOI Growth | 6.4% (positive) |
| Cash Same-Store NOI Growth | 8.5% (positive) |
| Total Leasing Activity | 67 million sq ft (positive) |
| Development Starts | $1.6 billion (positive) |
Guidance from management
Prologis raised its full-year net earnings guidance to $4.40 to $4.55 per share and core FFO guidance to $6.22 to $6.30 per share, reflecting strong operational performance and market conditions.
What management said
And then I'll just pile on as you also asked around the Prologis portfolio. I think what you should look at is just the continued outperformance in occupancy and you're seeing us just take more and more market share every quarter.
Jon, I want to be sure I understand your question. Yes, we took up the overall starts guidance meaningfully. Last quarter, if you unpack to the components of our guidance, it had predicted $2 billion of data center starts, which we have now achieved. So yes, the uplift, I think you're trying to infer is that coming from logistics, that would be correct.
What analysts pressed on
Analysts expressed concerns about the sustainability of the current leasing momentum and the potential impact of rising competition in the logistics sector. There were also questions regarding the ability to maintain occupancy levels amid increasing market rents.
Main topics on the call
- Record Leasing Activity — Prologis signed a record 67 million square feet of leases during the quarter, marking the fourth record in the past seven quarters. CEO Dan Letter stated, "This shows where this trend is," indicating strong demand across...
- Increased Development Starts — The company initiated $1.6 billion in new projects, with an increase in guidance for development starts to a range of $5.5 billion to $6.5 billion. CFO Tim Arndt noted, "As market conditions continue to strengthen, our s...
- Raised Full-Year Guidance — Prologis raised its net earnings guidance to $4.40 to $4.55 per share and core FFO expectations to a range between $6.22 and $6.30 per share. This was attributed to strong operating performance and visibility into earnin...
- Strong Market Conditions — Management highlighted a significant recovery in market conditions with U.S. net absorption at 66 million square feet, the highest since 2022. Tim Arndt stated, "The markets are entering a new phase of growth," indicatin...
Read the full Prologis, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Prologis, Inc.
Prologis, Inc. (PLD) is a publicly listed company in the Industrial REITs industry, within the Real Estate sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 64 calls on record spanning January 22, 2020 to July 16, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 64 Prologis, Inc. earnings call transcripts on record, spanning January 22, 2020 to July 16, 2026. Based on this history, Prologis, Inc. reports quarterly. The most recent call on file is dated July 16, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- PLD
- Exchange
- NYSE
- Country
- US
- Sector
- Real Estate
- Industry
- Industrial REITs
- Calls on record
- 64
- First call
- January 22, 2020
- Most recent
- July 16, 2026
- Reporting cadence
- quarterly