Prologis

Q2 FY2026 EarningsFY26 Q2 results significantly beat consensus across all key metrics: total revenue of $2,425M exceeded the $2,163M expectation by 12.13%, and GAAP EPS of $1.13 beat the $0.75 estimate. Performance was driven by a robust Strategic Capital segment, including $83M in promote revenue, and strong leasing spreads of 36.9% NER. While G&A expenses rose 21.3% YoY due to compensation costs, the company maintained a healthy liquidity position of $7.6B and active development starts totaling $3.0B TEI.