• Prologis (NYSE: PLD) reported third-quarter 2026 results with revenue of $2.39 billion and core FFO of $1.60 per-share, exceeding estimates.
• Leasing remained active, achieving 95.6% occupancy, driven by demand from e-commerce, advanced manufacturing, and data center customers.
• The company narrowed its 2026 core FFO forecast to $6.25–$6.29 per share and increased development starts to $5.0 billion–$5.75 billion.

Prologis (NYSE: PLD) owns and develops warehouses and other logistics properties used to store and move goods. It reported third-quarter 2026 results before the market opened on October 15. Revenue reached $2.39 billion, above the $2.18 billion estimate.

The reported $1.60 per-share figure was core funds from operations (FFO), not net earnings per share. Core FFO is a property-industry measure that adjusts earnings for items such as depreciation. It exceeded the $1.58 core FFO consensus estimate and rose 7.4% from a year earlier. Net earnings were $0.86 per diluted share.

Leasing remained active. Prologis signed 60 million square feet of leases, while quarter-end occupancy reached 95.6%, up 10 basis points from the prior quarter. Rental revenue rose 7.4% to $2.21 billion. CEO Dan Letter pointed to demand from e-commerce, advanced manufacturing and data center-related customers.

Higher operating expenses and slower rent growth limited some of the gains. Prologis narrowed its 2026 core FFO forecast to $6.25–$6.29 per share and raised planned development starts to $5.0 billion–$5.75 billion, as highlighted by Zacks Investment Research. The company is also on track for $15 billion in capital deployment and recycling activity this year.