Americold Realty Trust-Americold Announces Fourth Quarter and Full Year 2024 Results

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]