Logistics real estate giant Prologis announced its Q3 2022 earnings, stating, "Amid an uncertain economic backdrop, business growth indicators remain strong."
Wall Street didn't as shares ended at $102.06 on Wednesday, down almost 3.6% from Tuesday.
"Net earnings per diluted share was $1.36 for the quarter compared with $0.97 for the third quarter of 2021," the company wrote. "Core funds from operations (Core FFO)* per diluted share was $1.73 for the quarter compared with $1.04 for the same period in 2021. The third quarter of 2022 included $0.57 of net promote income, while the same period in 2021 included $0.01."
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