Americold Realty Trust Inc

Latest Results (24.12.2024):

Revenue Growth

Americold Realty Trust Inc reported total revenue of $674.2 million for the third quarter of 2024, marking a 0.9% increase from $667.9 million in the same quarter of the previous year. This growth was primarily driven by the Global Warehouse segment, which benefited from increased fixed commitment contracts, pricing initiatives, and rate escalations, despite facing challenges such as lower economic occupancy and throughput.

Net Income

For the third quarter of 2024, Americold Realty Trust Inc recorded a net loss of $3.7 million, or $0.01 loss per diluted share. This compares to a net loss of $2.1 million, or $0.01 loss per diluted share, in the third quarter of 2023. The net loss reflects ongoing challenges in certain segments, despite improvements in other areas.

NOI and Margins

Americold Realty Trust Inc's total Company NOI for the third quarter of 2024 increased by 10.6% to $209.2 million, up from $189.1 million in the same quarter of the previous year. The NOI margin also improved, rising to 31.0% from 28.3% in the third quarter of 2023. These improvements were driven by productivity enhancements and higher warehouse services margins.

Core EBITDA

In the third quarter of 2024, Americold Realty Trust Inc reported Core EBITDA of $157.2 million, reflecting a 9.1% increase from $144.0 million in the same quarter of the previous year. On a constant currency basis, this represents a 10.2% increase, attributed to the same factors that drove the increase in NOI.

AFFO and Core FFO

Americold Realty Trust Inc achieved AFFO of $100.1 million, or $0.35 per diluted share, in the third quarter of 2024, representing a 10.9% increase from $88.2 million, or $0.32 per diluted share, in the third quarter of 2023. Core FFO for the same period was $83.9 million, or $0.29 per diluted share, up from $69.6 million, or $0.25 per diluted share, in the previous year, reflecting strong operational performance.