PLD Earnings Prediction
The chart below shows how PLD performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PLD sees a -0.45% change in stock price 10 days leading up to the earnings, and a +0.62% change 10 days following the report. On the earnings day itself, the stock moves by -0.33%. This data can give you a slight idea of what to expect for the next quarter's release.
PLD Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
2.20B
16.48%
8.07%
Gross Margin
76.39%
2.92%
0.51%
Operating Margin
41.54%
21.89%
7.81%
Net Margin
60.99%
70.46%
16.79%
EPS
1.37
101.47%
26.85%
No Data Available
PLD Earnings Analysis
Prologis Inc Corporation (PLD.N) Earnings Conference Call
Positive
Core FFO Performance: Core FFO excluding net promote expense was $1.45 per share, slightly ahead of forecast, including approximately $0.03 of income from the Prologis Ventures exit.
Strong Occupancy Demand: Period ending occupancy was 96.2%, nearly 300 basis points above the market average, indicating strong demand for quality spaces.
Strong Rent Growth: Net effective rent change was 68%, with cash rent change at 44%, demonstrating robust pricing power in the portfolio.
Same Store Growth Performance: The portfolio produced net effective and cash same store growth of 6.2% and 7.2%, respectively, reflecting strong operational performance.
Debt Issuance and Flexibility: Raised $4.6 billion of new debt at a weighted average rate of 4.6% and a maturity of approximately 9 years, enhancing financial flexibility.
Negative
Credit Quality Deterioration: Revenues were impacted by approximately 35 basis points of bad debt, elevated from the normal 15 to 20 basis points, indicating a deterioration in credit quality.
Market Rent Decline: Market rents decreased approximately 3% this quarter, reflecting ongoing softness in demand despite healthy GDP and consumption growth.
Cash Same Store Growth Forecast: The forecast for cash same store growth has been tightened to a range of 6.5% to 7%, indicating a reduction in expected revenue growth from existing properties.
Reduced Development Guidance: Development starts guidance has been reduced to a range of $1,750,000,000 to $2,250,000,000, reflecting slow decision-making and a disciplined approach to new projects amid stubborn demand.
Market Vacancy Trends: Net absorption for the year is projected at 160,000,000 square feet against deliveries of 300,000,000 square feet, leading to rising market vacancies, which are currently at 6.8%.
PLD FAQs
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PLD Earning Call Sentiment
Earnings call transcript: Prologis beats Q4 2024 forecasts, stock gains
PLD.N
1.95%Positive
The earnings call summary reflects positive sentiment, with strong financial performance, strategic acquisitions, and increased guidance in several areas. Despite some mixed signals in the industrial markets, the company's confidence in long-term growth and disciplined approach to development are evident. The Q&A section highlighted steady demand and strategic focus, although management was somewhat vague on market rent recovery. Overall, the positive aspects outweigh the concerns, suggesting a positive stock price movement.