Prologis has reported its financial results for the quarter ended March 31, 2020. Revenues for the quarter totalled $978m, up 26.7% year-on-year from $772m in Q1 2019. Its adjusted EBITDA attributable to common stockholders for the quarter was $1,012.7m, up 54.7% from $654.41m in Q1 2019.
Net earnings per diluted share was $0.70 for the quarter compared with $0.55 for the first quarter of 2019.
“Our strong first quarter operating performance is a result of our long-term focus on the world’s top consumption markets,” said Hamid R. Moghadam, chairman and CEO, Prologis. “While the current environment is challenging, we are well prepared.”
Prologis added that the full economic impact of the pandemic was difficult to quantify, but overall, it assumed to experience reduced demand into the third quarter and anticipated that the operating environment will begin to recover toward the end of the year.
Source: Prologis
