Core Insights - Americold Realty Trust Inc. reported a revenue of $666.44 million for the quarter ended December 2024, which is a decrease of 1.9% year-over-year, and an EPS of $0.37, a significant improvement from -$0.80 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $692.19 million by 3.72%, while the EPS exceeded the consensus estimate of $0.36 by 2.78% [1] Revenue Breakdown - Revenue from rent, storage, and warehouse services was $606.47 million, below the average estimate of $630.88 million, reflecting a year-over-year decline of 1% [4] - Revenue from third-party managed services reached $10.10 million, surpassing the estimated $9.81 million, marking a year-over-year increase of 10.3% [4] - Global warehouse services generated $346.58 million, slightly below the estimated $353.18 million, with a year-over-year growth of 3.3% [4] - Revenue from global warehouse rent and storage was $259.89 million, falling short of the $277.70 million estimate, representing a year-over-year decline of 6.1% [4] - Transportation services revenue was $49.88 million, below the average estimate of $51.53 million, showing a significant year-over-year decrease of 13.8% [4] Stock Performance - Over the past month, shares of Americold Realty Trust have returned -2.3%, contrasting with the Zacks S&P 500 composite's increase of +2.6% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Insights - Americold Realty Trust Inc. reported quarterly funds from operations (FFO) of $0.37 per share, exceeding the Zacks Consensus Estimate of $0.36 per share, but down from $0.38 per share a year ago, indicating a 2.78% FFO surprise [1] - The company generated revenues of $666.44 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 3.72% and down from $679.29 million year-over-year [2] - The stock has underperformed the market, losing about 1.8% since the beginning of the year compared to the S&P 500's gain of 4.5% [3] Company Performance - Over the last four quarters, Americold Realty Trust has surpassed consensus FFO estimates three times, but has not beaten consensus revenue estimates during the same period [2] - The current consensus FFO estimate for the upcoming quarter is $0.36 on revenues of $685.11 million, and for the current fiscal year, it is $1.55 on revenues of $2.85 billion [7] Industry Context - The REIT and Equity Trust - Other industry, to which Americold Realty Trust belongs, is currently ranked in the bottom 33% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that the company's stock may continue to underperform based on current unfavorable estimate revisions [5][6]

Financial Performance - Total revenues for Q4 2024 were $666.4 million, a 1.9% decrease from $679.3 million in Q4 2023[15] - Net loss for Q4 2024 was $36.4 million, or $0.13 loss per diluted share, compared to a net loss of $226.8 million, or $0.80 loss per diluted share in Q4 2023[25] - Adjusted FFO for Q4 2024 was $105.9 million, or $0.37 per diluted common share, a 2.1% decrease from Q4 2023[15] - Core EBITDA for Q4 2024 was $155.6 million, a decrease of 2.9% from $160.3 million in Q4 2023[26] - For Q4 2024, Core FFO was $88.6 million, or $0.31 per diluted share, an increase from $84.8 million, or $0.30 per diluted share in Q4 2023[27] - Total revenues for the Global Warehouse segment in Q4 2024 were $606.465 million, a decrease of 0.9% compared to $612.698 million in Q4 2023[31] - Same store revenues for Q4 2024 were $588.718 million, a slight decrease of 0.5% from $591.538 million in Q4 2023[36] - Total revenues for Q4 2024 were $666,435,000, a decrease of 1.26% from $679,291,000 in Q4 2023[73] - Net loss for Q4 2024 was $36,409,000, compared to a net loss of $226,800,000 in Q4 2023, representing an improvement of 84.0%[74] - NAREIT FFO for Q4 2024 was $38,821,000, a significant recovery from a loss of $169,072,000 in Q4 2023[77] Operational Metrics - Global Warehouse same store NOI increased by 4.9%, or 5.9% on a constant currency basis compared to Q4 2023[15] - Global Warehouse segment same store services margin increased to 13.2% from 6.3% in Q4 2023[15] - Same store contribution (NOI) increased by 4.9% to $201.708 million in Q4 2024, compared to $192.361 million in Q4 2023[36] - Economic occupancy percentage for Global Warehouse decreased to 77.4% in Q4 2024 from 82.7% in Q4 2023, a decline of 524 basis points[31] - Average economic occupied pallets decreased by 5.9% to 4,272 in Q4 2024 from 4,541 in Q4 2023[31] - Same store margin improved to 34.5%, an increase of 280 basis points compared to 31.7% in Q4 2023[49] - Same-store contribution (NOI) for Q4 2024 was $206,729, reflecting a 2.0% increase from Q3 2024's $201,634[108] Revenue Growth and Projections - Full year 2024 Adjusted FFO per share grew by 16% compared to the previous year[12] - For 2025, the company projects warehouse segment same store revenue growth of 2.0% - 4.0%[18] - The company achieved $125 million of incremental full year same store warehouse services NOI in 2024[12] - Total warehouse revenues for the year ended December 31, 2024, reached $2,416,743,000, an increase of 1.1% compared to $2,391,089,000 in 2023[45] Costs and Expenses - Total warehouse segment cost of operations for Q4 2024 was $405.038 million, down 2.4% from $415.160 million in Q4 2023[31] - Operating expenses totaled $674,849,000 in Q4 2024, down from $873,612,000 in Q4 2023, a reduction of 22.7%[73] - The company incurred $33,144,000 in acquisition, cyber incident, and other costs in Q4 2024, compared to $15,774,000 in Q4 2023, an increase of 109.0%[74] - Depreciation and amortization expenses for Q4 2024 were $89,711,000, a decrease from $94,099,000 in Q4 2023[115] - Selling, general, and administrative expenses increased to $66,576,000 in Q4 2024 from $57,763,000 in Q4 2023[115] Debt and Liquidity - As of December 31, 2024, the company had total liquidity of approximately $921.8 million, with total net debt outstanding around $3.4 billion[63] - The company's unsecured debt has a weighted average contractual interest rate of 3.9% and no material debt maturities until 2026[63] - The company’s total debt outstanding as of December 31, 2024, was $3,475,181,000, with a net debt of $3,427,529,000, resulting in a net debt to pro forma core EBITDA ratio of 5.40x[82] Assets and Equity - Total assets decreased from $7.869 billion in 2023 to $7.736 billion in 2024, a decline of approximately 1.7%[71] - Total liabilities increased from $4.235 billion in 2023 to $4.429 billion in 2024, an increase of approximately 4.6%[71] - Stockholders' equity decreased from $3.616 billion in 2023 to $3.281 billion in 2024, a decline of approximately 9.3%[71] - The Company reported accounts receivable of $386.9 million in 2024, down from $426.0 million in 2023, a decrease of approximately 9.2%[71] Strategic Initiatives and Risks - The company announced a $79 million development project in Port Saint John, Canada, and a $34 million expansion in Christchurch, New Zealand[13] - The Company anticipates a migration of customers to fixed commitment storage contracts in 2025[68] - The Company faces risks including rising inflation, increased interest rates, and labor shortages that could impact future performance[67] - The Company has identified potential acquisition risks and challenges in expanding operations into new markets[67] Joint Ventures and Acquisitions - The company holds a 14.99% equity share in the Brazil-based SuperFrio joint venture, with a pro rata share of debt amounting to $17,276[111] - SuperFrio's revenues for Q4 2024 were R$151,272, a decrease from R$169,006 in Q4 2023[111] - The Dubai-based RSA joint venture, in which the company owns a 49% equity share, reported revenues of AED 7,582 for Q4 2024, up from AED 4,778 in Q4 2023[113] - Americold's pro rata share of net loss from the RSA joint venture for Q4 2024 was $27, compared to a loss of $5 in Q4 2023[113] Dividend and Shareholder Returns - The Company declared a dividend of $0.22 per share for Q4 2024, paid on January 15, 2025[64]

Core Insights - Americold Realty Trust achieved significant growth in 2024, with a 16% increase in Adjusted FFO per share and an 11.4% growth in Global Warehouse Same Store NOI [2][11] - The company reported a net loss of $36.4 million for Q4 2024, an improvement from a net loss of $226.8 million in Q4 2023, primarily due to a prior goodwill impairment charge [14] - Americold announced new development projects totaling $113 million, including a $79 million facility in Canada and a $34 million expansion in New Zealand [2][5] Financial Performance - Total revenues for Q4 2024 were $666.4 million, a 1.9% decrease from $679.3 million in Q4 2023, mainly due to a 13.8% drop in transportation services revenue [5][12] - For the full year 2024, total revenues reached $2.7 billion, reflecting a 0.3% change from 2023 [5] - Adjusted FFO for Q4 2024 was $105.9 million, or $0.37 per diluted share, a 2.1% decrease from Q4 2023 [16] Operational Highlights - Global Warehouse same store revenues decreased by 0.5% on an actual basis but increased by 0.6% on a constant currency basis compared to Q4 2023 [5][11] - The Global Warehouse segment same store services margin improved significantly to 13.2% from 6.3% in Q4 2023 [5][11] - The company reported a total NOI of $211.2 million for Q4 2024, a 0.6% increase from the same quarter of the previous year [13] Future Outlook - For 2025, Americold projects warehouse segment same store revenues growth of 2.0% to 4.0% and Adjusted FFO per share guidance of $1.51 to $1.59 [6][7] - The company plans to continue strategic capital deployment and targeted investments to enhance growth and operational efficiency [2][6]

Core Insights - Americold Realty Trust is developing its first Import-Export Hub in Canada at Port Saint John, New Brunswick, in collaboration with DP World and Canadian Pacific Kansas City (CPKC) [1][2] - The facility will enhance cold storage and logistics capabilities, primarily serving food supply chains between Central and Eastern Canada and global markets including Europe, South America, and the APAC region [2][4] - The investment for this project is estimated between $75 million and $80 million, with the hub expected to provide approximately 22,000 pallet positions [2][3] Company Overview - Americold is a global leader in temperature-controlled logistics, owning and operating 239 warehouses with approximately 1.5 billion refrigerated cubic feet of storage across North America, Europe, Asia-Pacific, and South America [6] - The company plays a crucial role in the food supply chain, connecting producers, distributors, and retailers to consumers [6] Strategic Partnerships - The collaboration with DP World and CPKC aims to create a unique North American cold chain, enhancing supply chain efficiency and sustainability [2][5] - The partnership with CPKC, established in June 2023, focuses on optimizing temperature-controlled logistics across North America using refrigerated containers [5] Economic Impact - Opportunities NB will invest up to $1.01 million to assist Americold in creating up to 100 jobs by the end of 2029, contributing an estimated $37 million to the provincial GDP [3] - The expansion is expected to improve market access for New Brunswick's exporting companies and strengthen Port Saint John's position as Atlantic Canada's largest port by volume [4]

Core Viewpoint - Americold Realty Trust, Inc. announced the 2024 tax treatment of its common stock distributions, encouraging shareholders to consult personal tax advisors for specific tax implications [1] Dividend Information - The Company declared a fourth quarter 2023 dividend of $0.22 per share, which will be paid in calendar year 2024 [2] - The total amount of the 2023 fourth quarter dividend is included in the shareholders' 2024 distributions [2] - The Company plans to maintain a consistent dividend of $0.22 per share for each quarter in 2024 [2] - The total dividends for 2024 amount to $0.8800 per share, comprising $0.6134 in ordinary dividends and $0.2666 in return of capital [2] Company Overview - Americold is a global leader in temperature-controlled logistics, owning and/or operating 239 temperature-controlled warehouses [3] - The Company has approximately 1.5 billion refrigerated cubic feet of storage across North America, Europe, Asia-Pacific, and South America [3] - Americold's facilities play a crucial role in the supply chain, connecting food producers, processors, distributors, and retailers to consumers [3]

Group 1 - The article emphasizes the presence of numerous investment bargains in the current market, particularly for those willing to conduct thorough research [2] - Americold Realty is highlighted as a potential investment opportunity, suggesting a focus on defensive stocks with a medium- to long-term investment horizon [2] Group 2 - The article is part of an income-focused investing service, indicating a strategy centered on sustainable portfolio income, diversification, and inflation hedging [1]

Core Viewpoint - Americold Realty Trust will release its fourth quarter and full year 2024 financial results on February 20, 2025, before market opening, followed by a conference call at 8:00 a.m. Eastern Time [1]. Company Overview - Americold Realty Trust is a global leader in temperature-controlled logistics, focusing on the ownership, operation, acquisition, and development of temperature-controlled warehouses [4]. - The company owns and/or operates 239 temperature-controlled warehouses, providing approximately 1.5 billion refrigerated cubic feet of storage across North America, Europe, Asia-Pacific, and South America [4]. - Americold's facilities play a crucial role in the supply chain, connecting food producers, processors, distributors, and retailers to consumers [4]. Conference Call Details - A webcast of the conference call will be available on the Investor Relations section of Americold's website [2]. - Participants can join the conference call by dialing in at least 5 minutes prior to the start time, with specific numbers provided for domestic and international callers [3]. - The conference call playback will be accessible until March 6, 2025, using the provided passcode [3].

Core Points - Americold Realty Trust declared a dividend of $0.22 per share for Q4 2024, payable on January 15, 2025, to stockholders of record as of December 31, 2024 [1] Company Overview - Americold Realty Trust is a global leader in temperature-controlled logistics, real estate, and value-added services [2] - The company focuses on the ownership, operation, acquisition, and development of temperature-controlled warehouses [2] - Americold owns and/or operates 239 temperature-controlled warehouses, providing approximately 1.5 billion refrigerated cubic feet of storage across North America, Europe, Asia-Pacific, and South America [2] - The facilities play a crucial role in the supply chain, connecting food producers, processors, distributors, and retailers to consumers [2]

Core Insights - Canadian Pacific Kansas City (CPKC) and Americold Realty Trust are exploring co-development opportunities in Mexico to enhance temperature-sensitive commodity flows across North America [1][4] - The strategic collaboration between CPKC and Americold, established in June 2023, aims to optimize temperature-controlled logistics [2][4] Company Developments - Americold is investing between $500 million and $1 billion over the next 5 to 10 years in development projects with CPKC and DP World [5] - CPKC has added 1,000 new 53-foot refrigerated intermodal containers to its network, more than doubling its existing fleet [4] Facility and Infrastructure - Americold's first development with CPKC is a 335,000-square-foot, $127 million import-export hub in Kansas City, set to open in mid-2025 [3] - The new facility will facilitate the movement of temperature-sensitive food between Mexico and the United States [3] Strategic Importance - The partnership aims to address inefficiencies in the cold chain and enhance supply chain value for customers [4] - CPKC is the only single-line transnational railway linking Canada, the U.S., and Mexico, providing extensive access to major ports [7]