Financial Data and Key Metrics Changes - The company reported an AFFO of $104.9 million or $0.37 per share, representing an increase of over 28% on a per share basis year-over-year [80] - Same-store constant currency services margin improved to 10.7%, a record for the first quarter, resulting in an incremental $22 million of NOI or roughly $0.08 of AFFO per share year-over-year [13][28] - The company raised its full year 2024 AFFO per share guidance to a range of $1.38 to $1.46, an increase of approximately 12% from 2023 [16] Business Line Data and Key Metrics Changes - Same-store rent and storage revenue per economic occupied pallet on a constant currency basis increased by 3.9% year-over-year, while same-store services revenue per throughput pallet increased by 10.8% [3][14] - Rent and storage revenue derived from fixed commitment storage contracts reached 54.2%, a 24% increase over the first quarter of 2023 [30] - The churn rate remained low at approximately 3% of total warehouse revenues, consistent with historical rates [20] Market Data and Key Metrics Changes - Economic occupancy was approximately 81%, with a 345 basis point decrease compared to the prior year, aligning with expectations [29][51] - The company anticipates a relatively benign environment associated with inflation-based rate actions in the second half of the year [15] Company Strategy and Development Direction - The company is focused on strategic partnerships, including a $127 million project with Canadian Pacific Kansas City and a $35 million project with DP World in Dubai [2][21] - The company aims to optimize temperature-sensitive food flows and create value through collaborations with global leaders in adjacent supply chain areas [36] - The company is committed to enhancing its labor management, achieving a perm-to-temp hours ratio of 78:22, which is a 3 percentage point year-over-year increase [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a 9% services margin for the full year of 2024, accelerated by process improvements and a stable workforce [48][61] - The company noted that early returns from its ERP implementation are expected to drive productivity and organic growth [11][73] - Management highlighted that consumer demand has been receding, but investments in new systems and processes will prepare the company for faster and more sustainable growth when demand accelerates [71] Other Important Information - The company reported total net debt outstanding of $3.2 billion and total liquidity of $732.5 million at the end of the quarter [38] - The company expects to announce development starts aggregating between $200 million to $300 million in 2024 [45] Q&A Session Summary Question: What was the occupancy level in Q1 compared to expectations? - The occupancy ended up 345 basis points below the prior year, which was in line with expectations, and the company believes a 400 basis point increase is achievable in the next three quarters [51] Question: How is throughput expected to perform in the second quarter? - The company noted a year-over-year improvement in throughput for the first time in April, which was earlier than expected, but maintained that the overall guidance remains unchanged [66][68] Question: Can you elaborate on the ERP rollout and its expected benefits? - The ERP system went live recently, and the company saw at least $2 million in benefits from process improvements prior to the rollout, with further benefits expected as the system is fully integrated [70][74] Question: What are the drivers behind the expected service margin trends? - The service margin improvement is driven by pricing increases and enhanced productivity from a more stable workforce, with no material one-time benefits affecting the margins in Q1 [105][114]

Americold Realty Trust Inc. (COLD) reported $664.98 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.7%. EPS of $0.37 for the same period compares to -$0.01 a year ago.The reported revenue represents a surprise of -2.89% over the Zacks Consensus Estimate of $684.78 million. With the consensus EPS estimate being $0.30, the EPS surprise was +23.33%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they com ...

Contacts: Americold Realty Trust, Inc. Investor Relations Telephone: 678-459-1959 Email: investor.relations@americold.com 12 Financial Supplement First Quarter 2024 20 | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------|---------|---------|----------------------------|---------|---------| | (5) Distributions per common share | Q1 24 | Q4 23 | Three Months Ended \nQ3 23 | Q2 23 | Q1 23 | | Distributions declared on common stock during the quarter | $62,743 | $62 ...

Key PointsInvestors have favored defensive sectors in the short term, and oversold stocks offering high dividends might become more attractive as global tensions rise and the market pulls back.Analysts are bullish on five oversold, high dividend-yielding stocks amidst recent market volatility.PLD, CVS, XP, HD, and COLD, each offer compelling investment cases based on oversold conditions, dividends, and growth projections.5 stocks we like better than Americold Realty TrustAmid global tensions and some severe ...

1shot Production It has been a long time since I looked at shares of Americold Realty (NYSE:COLD). In fact, it was early 2018 when the company went public, when I concluded that I was not warming up to the temperature controlled warehouse REIT. With valuations at the time being high at 22 times adjusted free cash flows, higher interest rates to be incurred and maintenance capital spending feeling low, I was quite cautious at the time. Fast forwarding more than 6 years in time, investors have seen modest cap ...

ATLANTA, GA, March 07, 2024 (GLOBE NEWSWIRE) -- Americold Realty Trust (NYSE:COLD), a global leader in temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, today announced that its Board of Directors has declared a dividend of $0.22 per share for the first quarter of 2024, payable to holders of the Company's common stock. The dividend will be payable in cash on April 15, 2024 to stockhol ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Securities registered pursuant to Section 12(g) of the Act: NONE Common Stock, $0.01 par value per share COLD New York Stock Exchange (NYSE) Title of each class Trading sy ...

Americold Realty Trust, Inc. (NYSE:COLD) Q4 2023 Earnings Conference Call February 22, 2024 5:00 PM ET Company Participants Kevin Reed - VP of IR George Chappelle - CEO Rob Chambers - Chief Commercial Officer Jay Wells - EVP and CFO Conference Call Participants Nick Thillman - Baird Mike Mueller - JPMorgan Jessica Zheng - Green Street Samir Khanal - Evercore Michael Carroll - RBC Capital Markets William Crow - Raymond James Craig Mailman - Citigroup Ki Bin Kim - Truist Securities Josh Dennerlein - Bank of A ...

For the quarter ended December 2023, Americold Realty Trust Inc. (COLD) reported revenue of $679.29 million, down 5.9% over the same period last year. EPS came in at $0.38, compared to $0.01 in the year-ago quarter.The reported revenue represents a surprise of -1.94% over the Zacks Consensus Estimate of $692.71 million. With the consensus EPS estimate being $0.36, the EPS surprise was +5.56%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...

Exhibit 99.2 Financial Information Consolidated Balance Sheets 17 Consolidated Statements of Operations 18 Reconciliation of Net (Loss) Income to NAREIT FFO, Core FFO and AFFO 19 Reconciliation of Net (Loss) Income to EBITDA, NAREIT EBITDAre, and Core EBITDA 21 Acquisition, Cyber Incident and Other, net 22 Debt Detail and Maturities 23 External Growth and Capital Deployment 39 Table of Contents | --- | --- | |-------|------------------------------| | | | | | | | | | | | | | | EARNINGS RELEASE & FINANCIAL | ...