Prologis, a leading logistics real estate investment trust, reported second-quarter earnings that surpassed analyst expectations, with funds from operations (FFO) at $1.46 per share compared to the estimated $1.43, and revenue reaching $2.18 billion versus the expected $2.01 billion. The company noted a 9% year-over-year increase in rental revenue and a 4.9% rise in same-store net operating income, with average occupancy stabilizing at 94.8%. Despite these strong quarterly results, Prologis revised its full-year 2025 earnings per share (EPS) guidance downward to a range of $3.00 to $3.15 from a prior forecast of $3.45 to $3.70, while slightly raising its full-year FFO outlook to $5.78 from $5.73. The CEO highlighted a historically high leasing pipeline and increased readiness among customers, particularly larger ones, to commit to new leases. In the second quarter alone, Prologis signed 51 million square feet of leases, a response attributed in part to occupiers adjusting to the impact of tariffs. Additionally, Flexport's tariff calculation technology is gaining traction among companies, with users spending an average of 14 minutes per session on its platform.