Americold Realty Trust(US:COLD) Globenewswire·2026-02-19 11:45Core Insights - Americold Realty Trust reported a fourth-quarter AFFO per share of $0.38, a 3% increase year-over-year, indicating solid performance despite challenges in the cold storage industry [3][19] - The company achieved a full-year services margin improvement and met its long-term target of 60% for fixed commitment contracts, reflecting effective operational execution [3][6] - For 2026, Americold has outlined key priorities aimed at strengthening its balance sheet and enhancing profitability, while also expanding into high-value retail and adjacent sectors [3][8] Financial Performance - Total revenues for Q4 2025 were $658.5 million, a 1.2% decrease from $666.4 million in Q4 2024, primarily due to lower volumes in the Global Warehouse segment [6][13] - The company reported a net loss of $88.3 million, or $0.31 loss per diluted share, compared to a net loss of $36.2 million, or $0.13 per diluted share in Q4 2024 [17][11] - Adjusted FFO for Q4 2025 was $108.3 million, or $0.38 per diluted share, a 2.7% increase from $105.9 million, or $0.37 per diluted share in Q4 2024 [19][6] Operational Metrics - Global Warehouse segment same store revenues decreased by 1.1% on an actual basis and 1.5% on a constant currency basis compared to Q4 2024 [6][14] - The same store services margin increased to 13.9% from 12.7% in Q4 2024, indicating improved operational efficiency [31][6] - Global Warehouse segment contribution NOI for Q4 2025 was $206.9 million, a 2.7% increase from $201.4 million in Q4 2024, driven by lower operational costs [15][16] 2026 Outlook - The company expects AFFO per share for 2026 to be in the range of $1.20 to $1.30, reflecting a cautious approach amid ongoing industry challenges [3][8] - Guidance for warehouse segment same store revenues is projected between $2.20 billion and $2.27 billion, with total company NOI expected to range from $780 million to $845 million [8][7] - Core EBITDA is anticipated to be between $570 million and $620 million, indicating a focus on maintaining profitability [8][7] Balance Sheet and Liquidity - As of December 31, 2025, Americold had total liquidity of approximately $935.4 million, with total net debt outstanding around $4.2 billion [20][21] - The company's net debt to pro forma Core EBITDA ratio was approximately 6.8x, indicating a manageable level of leverage [21][20] - Approximately 86.6% of total debt was at a fixed rate, providing stability in interest expenses [21][20] Dividend Information - The Board of Directors declared a 5% increase in the dividend to $0.23 per share for Q4 2025, reflecting a commitment to returning value to shareholders [22][6]