Prologis Reports Fourth Quarter and Full Year 2020 Earnings Results
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SAN FRANCISCO, Jan. 26, 2021 /PRNewswire/ Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, reported results for the fourth quarter of 2020.
Net earnings per diluted share was $0.38 for the quarter and $2.01 for the year compared with $0.61 and $2.46 for the same periods in 2019. The decline in 2020 was due to lower gains on dispositions and higher costs from early extinguishment of debt.
Core funds from operations (Core FFO) per diluted share was $0.95 for the quarter, compared with $0.84 for the same period in 2019. For the full year 2020, Core FFO per diluted share was $3.80 compared with $3.31 for the same period in 2019. Core FFO for full-year periods 2020 and 2019 included net promote income per diluted share of $0.22 and $0.18, respectively.