Prologis Sales Rise on Data Center, E-Commerce Demand
By Katherine Hamilton
Prologis said demand from e-commerce and data center customers drove higher revenue in the third quarter.
The logistics real estate investment trust posted a profit of $815.7 million, or 86 cents a share, compared with $762.9 million, or 82 a share, a year earlier.
Core funds from operations were $1.60 a share, ahead of the $1.57 a share expected by analysts.
Revenue rose 8% to $2.39 billion. Analysts surveyed by FactSet had forecast revenue of $2.18 billion.
Customers are "running lean" on inventory and have cleared through most excess capacity within their networks, Chief Executive Daniel Letter said. Demand is supported by e-commerce, advanced manufacturing and data centers.
For the full year, Prologis narrowed its outlook for funds from operations and lowered its profit view.
It now expects earnings per share for the year to be $4.05 to $4.15, down from its prior guidance of $4.40 to $4.55. Core funds from operations are anticipated to be $6.25 to $6.29, compared with the earlier guidance of $6.22 to $6.30.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
October 15, 2026 09:04 ET (13:04 GMT)
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