Latest news with #TimArndt
Yahoo
28-05-2025
- Business
- Yahoo
Prologis to Participate in Industry Conferences in New York City
SAN FRANCISCO, May 28, 2025 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced that Dan Letter, president, is scheduled to participate in the Bernstein 41st Annual Strategic Decisions Conference in New York, NY on May 29. Additionally, Dan Letter and Tim Arndt, chief financial officer, will participate and present at REITweek 2025: NAREIT's Investor Forum in New York, NY. The presentation will occur on Wednesday, June 4, at 10:15 a.m. ET/7:15 a.m. PT. Prologis' presentation will broadcast live via audio webcast and an audio replay will be available thereafter. The live broadcast, replay, and presentation materials can be accessed on ABOUT PROLOGIS The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at FORWARD-LOOKING STATEMENTS The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia: SOURCE Prologis, Inc.
Yahoo
19-04-2025
- Business
- Yahoo
Prologis CFO says ‘disconnected world' requires more warehousing
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Prologis CFO Tim Arndt this week detailed a stark shift in the industrial real estate giant's outlook after April 2, when President Donald Trump fully acted on his longstanding pledge to enact global tariffs, noting in a Wednesday earnings call with analysts that 'even with the pause in some tariffs or resolution of others, customers simply lack a steady backdrop upon which to plan their businesses.' Arndt said the tariff actions 'clearly went beyond our early predictions, making the environment less certain.' The company saw a post-election uptick in property leasing hold steady through a 'very strong' first quarter, he said. But in the past two weeks, even as the company signed about 80 leases involving more than 6 million square feet, volume fell 20% from its normal pace, Arndt said. Painting a mixed picture of potential fallout from tariffs with some potential benefits for the company, Arndt said he expects that demand for warehouse space will rise as policy instability disrupts global supply chains. 'First, a disconnected world will require more warehouse space not less,' Arndt said according to a transcript of the call. 'Second, the current environment is an endorsement of our longstanding strategy to invest in markets where goods are consumed, not where they're produced.' Arndt's comments came as the San Francisco-based Prologis's net earnings attributable to common shareholders ticked up to $592 million in Q1, compared to $584 million in the year-earlier period. The average occupancy of its owned and managed properties stood at 94.9%, down from 96.8% in the year-earlier period. In a Wednesday note, JPMorgan analysts, led by Michael Mueller, wrote Prologis's core funds from operations of $1.42 a share were above Bloomberg's consensus expectation of $1.38 and also stated it was surprising that management maintained its core FFO outlook for 2025. Arndt said on the call that the company's first quarter results would normally have required tightening and increasing guidance. But due to the tariffs, the company instead opted to hold most areas of guidance unchanged, with the exception of capital deployment. 'Prior to April 2, industrial fundamentals were improving, and had it not been for the recent uncertainty from global tariffs and their downstream impacts, we would have raised our expectations for 2025,' he said. 'Instead, we are electing to maintain earnings guidance as there are no policy conclusions right now to plan differently and our severe stress test to core FFO supports the existing range.' The company held its 2025 guidance for net earnings attributable to common shareholders at between $3.45 to $3.70 but lowered its development start guidance to a range of $1.5 billion to $2 billion from a range of $2.25 billion to $2.75 billion. The change reflects the company's expectation of reduced speculative development. In setting the scene for the disruption in the market since April 2, Arndt also said the company has been in touch with more than 300 customers, noting that many of them are acting quickly to manage the tariff volatility by accelerating and re-routing shipments and looking for overflow space along with 'short-term flexibility' while also evaluating free trade zones. Detailing some of the tariff's expected impacts, he said the company anticipates that inventory levels will increase, e-commerce will take a bigger share of transactions and markets outside the U.S., such as Canada, India and Brazil, will benefit. But Arndt cautioned that uncertainty is high. 'Let's be clear, the range of outcomes is wide. We see potential for recession, inflation, or possibly both. And let's also not dismiss the potential for a quick resolution,' he said, expressing confidence that Prologis is 'designed to weather any environment' with its global footprint, diverse tenants and strong balance sheet. Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Prologis sticks with 2025 outlook, but customers grow more cautious
Logistics real estate investment trust Prologis announced that it is sticking with its initial 2025 outlook even as uncertainty around trade policy has some customers delaying leasing decisions. The company said favorable trends in the first quarter had it in position to raise guidance but 'Liberation Day' tariffs announced April 2 forced it to pause that decision. Looking forward, management told analysts on a Wednesday conference call that there are still many unknowns around near-term leasing demand but that longer-term fundamentals and the need for incremental warehousing space remain intact. 'Let's be clear: The range of outcomes is wide. We see potential for a recession, inflation or possibly both. And let's also not dismiss the potential for a quick resolution,' CFO Tim Arndt said on the call. He said the company was 'designed to weather any environment,' noting a diverse customer portfolio, built-in rent escalators and a strong balance sheet, but that 'customers simply lack a steady backdrop upon which to plan their businesses.'Prologis (NYSE: PLD) reported first-quarter core funds from operations (FFO) of $1.42 per share before the market opened on Wednesday, which was 4 cents above consensus and 14 cents higher year over year. Total revenue was up 9% y/y to $2.14 billion as new leases commenced increased 35% to 65.1 million square feet, but occupancy slid 190 basis points to 94.9%. (Occupancy ended the period at 95.2%.) Arndt said many customers have been pulling forward inventories ahead of tariffs and some are now looking for more storage space. Port markets could also see a near-term lift given a 90-day pause on some tariffs as customers continue to build stockpiles. Deals are still getting done currently but at a reduced pace. Overall leasing activity for Prologis was down 20% over the past two weeks. It signed 80 leases covering 6 million square feet in that period. However, the company believes the need for space will increase in a 'disconnected world' as many players will be required to stand up new supply maintained its full-year 2025 guidance for core FFO to range from $5.65 to $5.81. The outlook continues to assume average occupancy in a range of 94.5% to 95.5%. It did lower its forecast for development starts by 30% at the midpoint of the new range of $1.5 billion to $2 billion until visibility improves. The bottom end of the FFO guidance range contemplated worst-case scenarios from past downturns like the Great Financial Crisis when rents fell 18% and vacancies declined 170 bps. 'But please, this is not a prediction. We are incapable of making a prediction in this environment,' said Hamid Moghadam, Prologis co-founder and CEO. The concern over tariffs had little impact on the quarter as global rents fell 1.5% and were down just 0.5% excluding Southern California. Shares of PLD were 2% higher at 2:42 p.m. EDT on Wednesday compared to the S&P 500, which was down 2.6%. More FreightWaves articles by Todd Maiden: J.B. Hunt's intermodal bid season delivers mixed results March freight demand enters, exits like a lamb Amazon launches inbound-only LTL service The post Prologis sticks with 2025 outlook, but customers grow more cautious appeared first on FreightWaves.
Bloomberg
07-02-2025
- Business
- Bloomberg
Prologis CFO on Growth Outlook
Tim Arndt, CFO of Prologis, says the key driver for the company's growth is renewing rents up to market levels in 2025. He also discusses the company's plans to promote growth through building up data centres on consistent demand from hyperscalers. He speaks with Shery Ahn and Nina Trentmann on "Bloomberg: The Asia Trade". (Source: Bloomberg)
