Prologis Q2 2026: revenue up 11.1%, net income up 86.2%
Prologis grew second-quarter revenue 11.1% to $2.43 billion and nearly doubled net income to $1.06 billion, while GAAP earnings per share of $1.13 beat the $0.7979 consensus by 41.6%. The headline flatters the business in two ways: strategic capital revenue jumped 64.2% and gains on dispositions swelled. The cleaner signal is same-store cash NOI of 8.5%, above the top of full-year guidance.
1 · Expected vs. Actual
Free preview belowGAAP earnings per share of $1.13 came in 41.6% above the $0.7979 consensus and nearly doubled from $0.61. Core FFO per share of $1.63 rose from $1.46, and AFFO of $1.32 billion was up from $1.04 billion. The wide gap between GAAP and core FFO is mostly real estate depreciation and gains on sales, not operating costs.
Revenue rose 11.1% to $2.43 billion from $2.18 billion a year earlier. Rental revenue was the base of the business at 89.8% of the total, while strategic capital revenue of $241.62 million grew 64.2% and development management and other contributed just $6.76 million. No revenue consensus was provided, so the top line can only be judged against last year.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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