Prologis achieved robust financial and operational results in 4Q24, driven by leasing demand and strategic developments. Post-election activity boosted leasing metrics, reinforcing Prologis’ market leadership in logistics real estate.
📊 Income Statement Highlights (vs 4Q23):
▫️Net Earnings: $1.28B vs $0.63B (+103.06%)
▫️Total Revenue: $2.20B vs $1.89B (+16.46%)
▫️Adjusted EBITDA: $2.11B vs $1.72B (+22.47%)
▫️Core FFO/Share: $1.50 vs $1.26 (+19.05%)
▫️Net Promote Income: $82.67M vs ($26.40M)
📄 Additional Financial Metrics:
▫️Rental Revenues: $1.94B (+10.34%)
▫️Strategic Capital Revenues: $253.39M (+95.41%)
💼 Balance Sheet Highlights (vs 4Q23):
▫️Total Assets: $95.33B (+2.48%)
▫️Equity: $58.62B (+1.37%)
▫️Debt: $30.88B (+6.48%)
▫️Available Liquidity: $7.40B
📊 Operational Metrics:
▫️Average Occupancy: 95.6%
▫️Net Effective Rent Change: 66.3%
▫️Cash Same-Store NOI Growth: +6.7%
🏗️ Capital Deployment (4Q24):
▫️Development Stabilizations: $827M (+3.77%)
▫️Development Starts: $375M (-4.82%)
▫️Acquisitions: $384M (-35.93%)
🔮 Future Outlook:
Prologis forecasts 2025 Core FFO/share of $5.70–$5.86, emphasizing sustained demand for logistics spaces, robust occupancy, and expansion in data center and energy businesses.
