Lineage, Inc. Reports $1.361 Billion Revenue with Increased Losses in Q2 2026

Lineage, Inc. reported a net revenue of $1.361 billion for the second quarter of 2026, reflecting a slight increase of 0.8% from $1.350 billion in the same period of the previous year. For the first half of 2026, the company achieved total revenues of $2.658 billion, up from $2.642 billion in the first half of 2025. Despite this revenue growth, Lineage experienced a net loss of $29 million for the second quarter, compared to a loss of $6 million in the prior year. The loss for the first half of 2026 was $75 million, significantly higher than the $6 million loss reported in the first half of 2025.

The company's cost of operations increased to $936 million in the second quarter of 2026, up from $920 million in the same quarter of 2025. This rise was attributed to higher costs associated with both the same and non-same warehouse pools. General and administrative expenses decreased slightly to $138 million from $143 million year-over-year, while depreciation and amortization expenses rose to $182 million from $170 million. The overall operating expenses for the second quarter totaled $1.307 billion, a marginal increase from $1.327 billion in the previous year.

In terms of strategic developments, Lineage continued to expand its operations, operating a network of 498 temperature-controlled warehouses as of June 30, 2026, with a total capacity of approximately 87 million square feet. The company reported a slight increase in average economic occupancy to 80.0% from 79.1% year-over-year, indicating a stable demand for its warehousing services. However, the average physical occupancy increased only marginally to 73.8% from 73.3%. The company also noted a significant increase in throughput pallets, which rose by 5.9% to 13.91 million in the second quarter.

Looking ahead, Lineage expressed optimism about its growth trajectory, despite the challenges posed by market conditions, including inflation and labor shortages. The company anticipates that its strategic initiatives, including ongoing investments in technology and infrastructure, will enhance operational efficiency and customer service. However, it acknowledged potential risks related to economic volatility and competition in the temperature-controlled warehousing sector. The company plans to continue leveraging its extensive network and capabilities to capture market opportunities while managing costs effectively.