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PLD · Q2 2026
Archived report (Q2 2026). Latest deep dive →
US GAAP · $M · vs Q2 2025 · reported 07/16/2026
PLD — Prologis is a global leader in logistics real estate, specializing in industrial properties such as warehouses and distribution centers.
More about the company
The company is headquartered in San Francisco, California, and operates extensively across the Americas, Europe, and Asia.
All figures in $M.
Revenue
$2,425
+11.1%
Operating income
$1,251
+37.1%
incl. gains
Net income
$1,124
+80.6%
Verdict: net earnings +86% overstates the quarter and Core FFO +12% tells the truth — the GAAP number is inflated by $292M of disposition gains and a $110M FX/derivative swing; the underlying logistics-rent machine grew rents 7%, strategic-capital fees 64%, and still covers the $1.0B quarterly dividend from FFO.
Core FFO $1,559M ($1.63/sh, +11.6%); AFFO $1,323M; adjusted EBITDA $2,143M. Dividends+distributions $1,027M ($1.07/sh). Portfolio: 1.3B sq ft, 5,929 buildings, ~6,500 customers; 84% of NOI from the U.S.
Source and notation
* marks non-cash / ≈ estimated. REIT: depreciation makes GAAP net earnings a poor profitability lens — Core FFO is the industry metric. Source: Prologis supplemental / 8-K EX-99.1 (SEC EDGAR).
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How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report; the short company description was also written by our model. Figures checked against the filing on 08/26/2026. How we make the breakdowns · Report an error
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