Prologis (PLD) Q3 2026 Earnings Rise, Shares Drop 2.31%

By Tamara Parker • Thursday, October 15 16:02 • Permanent Link

Prologis reported third-quarter 2026 net earnings attributable to common stockholders of $816 million, up from $763 million a year earlier. On a per-share basis, net earnings rose to $0.86 from $0.82.

Total revenue increased to $2.388 billion from $2.214 billion in the prior-year quarter. Rental and other revenues climbed to $2.224 billion from $2.064 billion, while strategic capital revenues rose to $164 million from $150 million.

Core FFO attributable to common stockholders and unitholders increased to $1.545 billion from $1.426 billion. Per diluted share, core FFO moved up to $1.60 from $1.49. AFFO attributable to common stockholders and unitholders rose to $1.207 billion from $1.064 billion, with per-share AFFO increasing to $1.25 from $1.11.

Adjusted EBITDA attributable to common stockholders and unitholders grew to $2.081 billion from $1.868 billion. Estimated value creation from development stabilizations fell sharply to $39 million from $169 million in the third quarter of 2025.

For the first nine months of 2026, net earnings attributable to common stockholders reached $2.857 billion, up from $1.924 billion a year earlier. Total revenue rose to $7.111 billion from $6.537 billion. Core FFO increased to $4.544 billion from $4.178 billion, and AFFO advanced to $4.002 billion from $3.184 billion. Adjusted EBITDA climbed to $6.401 billion from $5.428 billion.

Per diluted share, nine-month net earnings were $3.04, up from $2.06. Core FFO per share rose to $4.73 from $4.37, while AFFO per share increased to $4.16 from $3.33. Dividends and distributions per common share/unit increased to $3.21 from $3.03.

Prologis’ operating metrics showed average occupancy at 84.0% in the quarter, down from 85.3% in the prior-year period. The company said lease proposals totaled 134 million square feet, and proposals as a percentage of available net rentable area were 40%, compared with 42% previously. The U.S. IBI activity index was 59.1, versus 57.7 a year earlier, while new lease negotiation gestation was 86 days, up from 54 days. Today the company's shares have moved -2.31% to a price of $130.46. If you want to know more, read the company's complete 8-K report here.

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