PLD · 8-K · 20261015PR422375
Revenue Performance and Mix
Prologis, Inc. · 2026-10-15 · Importance 33 · Surprise 6 · No source text
The unconsolidated co-investment ventures generated $1.391 billion of rental revenue in the three months ended September 30, 2026, including $569.1 million from Europe, $458.4 million from the U.S., $218.6 million from Other Americas, and $145.1 million from Asia. Rental expense totaled $299.6 million and general and administrative expense totaled $83.7 million, producing $523.0 million of operating income before gains on real estate transactions. Net earnings were $370.1 million, while modified FFO was $806.0 million and Core FFO was $787.2 million for the ventures at 100%.
Key facts
- Prologis, Inc. reported $7.2B in annual NOI (Prologis Share) for operations. source
- Total revenues for the three months ended September 30, 2026 were $2,388 million. source
- Rental and other revenues for the three months ended September 30, 2026 were $2,224 million. source
- Core FFO attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,545 million. source
- Consolidated total revenues for the three months ended September 30, 2026 per the consolidated statements of income: Rental $2,205,269 thousand; Strategic capital $164,326 thousand; Development management and other $17,923 thousand; Total revenues $2,387,518 thousand. source
- NAREIT defined FFO attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,574,256 thousand. source
- FFO, as modified by Prologis attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,626,222 thousand. source
- Core FFO attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,544,573 thousand per reconciliation. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +106.8% | Total Operating Portfolio third quarter NOI (Prologis Share) was $1,787,730 thousand and total Operating Portfolio NOI (Owned and Managed)… |
| revenue | positive | realized | +90.9% | Consolidated total revenues for the three months ended September 30, 2026 per the consolidated statements of income: Rental $2,205,269… |
| operating_income | positive | realized | +73.7% | Total Operating Portfolio third quarter NOI (Prologis Share) was $1,787,730 thousand and total Operating Portfolio NOI (Owned and Managed)… |
| net_income | positive | realized | +67.0% | FFO, as modified by Prologis attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,626,222… |
| net_income | positive | realized | +64.9% | NAREIT defined FFO attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,574,256 thousand. |
| net_income | positive | realized | +63.7% | Core FFO attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,545 million. |
| net_income | positive | realized | +63.7% | Core FFO attributable to common stockholders/unitholders for the three months ended September 30, 2026 was $1,544,573 thousand per… |
| revenue | positive | realized | +17.8% | Prologis share of Unconsolidated Co-Investment Ventures rental revenue (Prologis Share) for the three months ended September 30, 2026:… |
| revenue | positive | realized | +6.8% | Consolidated total revenues for the three months ended September 30, 2026 per the consolidated statements of income: Rental $2,205,269… |
| revenue | positive | realized | +0.7% | Consolidated total revenues for the three months ended September 30, 2026 per the consolidated statements of income: Rental $2,205,269… |
| operating_income | positive | realized | — | Prologis, Inc. reported $7.2B in annual NOI (Prologis Share) for operations. |
| revenue | positive | realized | — | Total revenues for the three months ended September 30, 2026 were $2,388 million. |