Prologis, Inc. (NYSE:PLD) Q4 2023 Earnings Call Transcript

Operator: And the next question comes from the line of Michael Carroll with RBC Capital Markets. Please proceed with your question.

Michael Carroll: Yeah. Thanks. I guess, maybe Chris, can you provide some color on tenants’ mindsets to adding more inventory? I mean, is it fair to say that tenants, or at least some tenants have delayed these decisions over the past year, just due to the macro uncertainty? And what does this change may have customer discussions changed at all given the holiday season that you kind of highlighted and how they didn’t have enough inventory levels. I mean, has that been changing, are they ready to make those investments today?

Chris Caton: Hey, Mike. It’s Chris. I think you might have answered your own question, totally agree with the sentiment in the direction you’re taking it. And there’s likely to be a different posture going forward. And then I’d also look, propose that you can also reach out to them and get their feedback.

Tim Arndt: Yeah. I bet you that answer is, they have no idea. I mean, it’s just been since 16 days, right? 16, 17 days since the end of the year. Many of them haven’t even added up their numbers and I think those guys don’t come out with earnings releases until much later. So with Michael’s question, that was the last one. I wanted to thank you for not only this call but also attending our Investor Day, we got a lot of great feedback from you and we’ll make these things better and better over time and look forward to talking to you next quarter, if not before. Take care.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.