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Prologis (PLD) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Prologis (PLD) reported revenue of $1.83 billion, up 11.9% over the same period last year. EPS came in at $1.28, compared to $0.50 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.81 billion, representing a surprise of +1.00%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.28.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Prologis performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average Occupancy: 96.8% versus the three-analyst average estimate of 96.8%.

  • Revenues- Development management and other: $0.55 million compared to the $2 million average estimate based on five analysts. The reported number represents a change of +375% year over year.

  • Revenues- Rental: $1.83 billion compared to the $1.81 billion average estimate based on four analysts. The reported number represents a change of +11.9% year over year.

  • Revenues- Strategic capital: $128.41 million compared to the $129.60 million average estimate based on four analysts. The reported number represents a change of -4.7% year over year.

  • Rental and other revenues: $1.83 billion versus the three-analyst average estimate of $1.82 billion.

  • Net Earnings Per Share (Diluted): $0.63 compared to the $0.61 average estimate based on six analysts.

View all Key Company Metrics for Prologis here>>>

Shares of Prologis have returned -10.3% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research