Americold Realty Trust Reports Fiscal Year 2025 Financial Results

**Americold Realty Trust Reports Fiscal Year 2025 Results**

Americold Realty Trust (NYSE: COLD), a global leader in temperature-controlled logistics, reported its financial results for the fiscal year ending December 31, 2025. The company operated a global network of 231 temperature-controlled warehouses, encompassing approximately 1.4 billion cubic feet. The company's aggregate market value of the voting common stock owned by non-affiliates was $4.1 billion as of June 30, 2025. The company's business is viewed through three primary business segments: Warehouse, Transportation, and Third-Party Managed.

For the year, the Warehouse segment reported revenues of $2.38 billion, a decrease of 1.6% compared to the previous year's $2.42 billion. The decrease was attributed to a decrease of $29.2 million in the same store pool, and a decrease of $6.5 million in the non-same store pool, both on a constant currency basis. Warehouse segment cost of operations totaled $1.58 billion, a decrease of 2.3% compared to the previous year's $1.62 billion. The cost of operations decreased $8.5 million for the same store pool, and decreased $26.3 million for the non-same store pool, both on a constant currency basis. The Transportation segment reported revenues of $188.2 million, a 10% decrease compared to the previous year's $209.1 million. The decrease was primarily due to overall lower volumes driven by softening transportation demand in the current macro-economic environment coupled with certain customer exits and site exits, partially offset by an increase in transportation revenues in Asia-Pacific primarily due to a newly leased warehouse in Australia and volume increases in the region. The Third-Party Managed segment reported revenues of $36.5 million, a 10.3% decrease compared to the previous year's $40.7 million. The decrease is due to the ceased operations of certain third-party managed sites, one of which ceased during the three months ended June 30, 2024 and another during the three months ended March 31, 2025.

Strategic developments during the year included the acquisition of one temperature-controlled storage facility in Baytown, TX, for $108.4 million, and the sale of its 14.99% equity interest in the SuperFrio joint venture for $27.5 million, resulting in a net gain of $2.4 million. The company continued to invest in its transformation program, "Project Orion," incurring $227.7 million of implementation costs since inception. The company also exited 2 facilities in the Company’s lease portfolio that were previously accounted for as failed sale-leaseback financing obligations. These exits resulted in a $55.9 million loss.

Key operational metrics for the Warehouse segment included an average economic occupancy of 74.6% and an average physical occupancy of 63.6%. The company served 2,962 customers as of December 31, 2025. The company's global workforce consisted of approximately 12,690 employees, with 77% based in North America. The company's Total Recordable Incident Rate (TRIR) was 1.92, below the industry average. The company also announced a 5% increase in the dividend to $0.23 per share for the fourth quarter of 2025.

Looking ahead, the company expects to benefit from its strategic investments in technology and infrastructure, as well as its focus on operational excellence and customer service. However, the company acknowledges potential challenges from macroeconomic conditions, including consumer spending conservatism, inflationary pressures, and increased competition in the cold storage industry. The company is focused on managing capital strategically, prioritizing balance sheet strength, and leveraging organic growth opportunities within its existing portfolio.