Prologis Raises 2025 FFO Guidance After Q2 Beat

Prologis reported second-quarter 2025 revenue of $2.18 billion, exceeding analyst expectations, and core funds from operations (FFO) of $1.46 per share, above the $1.41 consensus. The company raised its full-year 2025 core FFO guidance midpoint to $5.78 per share, up from $5.73, citing a rebound in warehouse leasing following a tariff-driven slowdown. Major clients such as Amazon and FedEx have increased leasing activity ahead of key retail seasons, contributing to historically high pipeline levels. Despite ongoing uncertainties around U.S. tariffs, strong leasing and build-to-suit activity have buoyed management’s outlook. Prologis shares rose over 4% on the results, though the stock has lagged the broader market year-to-date. Management’s revised guidance reflects confidence in a continued demand recovery.