Filing Flows › Prologis (PLD) › Q1 2025
Prologis (PLD) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Prologis (PLD) reported revenue of $2.1B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -3% from the quarter before. Operating margin was 41.1%, net earnings $593M (27.7% of revenue).
Prologis, Q1 2025: revenue $2.1B (+9% year over year), operating margin 41.1%, net earnings $593M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | -3% | +9% |
| Operating profit | $878M | -38% | +22% |
| Net earnings | $593M | -54% | +1% |
| Operating cash flow | $1.2B | -13% | +10% |
| Free cash flow | $385M | -24% | +15% |
What changed
Revenue was $2.1B in Q1 2025, up 9% year over year and down 3% from the previous quarter.
Operating profit was $0.88B, a 41.1% margin (up 4.2 points year over year). Of the extra revenue versus a year earlier, 86% reached operating profit, above the 37% margin then. Total costs grew 2% against revenue growth of 9%. Net earnings were $0.59B, up 1% year over year. The effective tax rate was 6.4%.
Operating cash flow was $1.2B (up 10% year over year), 182% of net income including minority interests. Non-cash charges added back $0.65B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.18B. Capital expenditures of $0.78B left free cash flow of $0.38B.
Questions
What was Prologis' revenue in the first quarter 2025?
Prologis (PLD) reported revenue of $2.1B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -3% from the quarter before.
Was Prologis profitable in the first quarter 2025?
Operating profit was $878M (41.1% of revenue) and net earnings $593M.
Source: Prologis 10-Q on SEC EDGAR.