Lineage, Inc.(US:LINE) Businesswire·2026-02-25 11:00Core Insights - Lineage, Inc. reported strong execution in Q4 2025, with increased utilization indicating a return to normal seasonality in business trends [2][3] - The company achieved solid results for the full year 2025 despite challenging industry conditions, focusing on operational excellence and cost management [2][3] - For 2026, Lineage anticipates adjusted EBITDA of $1.25 to $1.30 billion and adjusted FFO per share of $2.75 to $3.00, excluding impacts from future acquisitions [4] Financial Performance - Q4 2025 total revenue decreased by 0.2% to $1,336 million, while full-year revenue remained flat at $5,355 million [9] - GAAP net income for Q4 was $6 million, or $0.03 per diluted share, with a full-year net loss of $(113) million, or $(0.43) per diluted share [9] - Adjusted EBITDA for Q4 decreased by 2.4% to $327 million, and for the full year, it decreased by 2.3% to $1,298 million [9] Operational Metrics - The global warehousing segment reported Q4 revenues of $1,023 million, a 4.4% increase from the previous year, with warehouse storage revenue up by 5.7% [22] - The total global warehousing segment cost of operations increased by 8.7% to $650 million in Q4 [22] - The global warehousing segment NOI for Q4 was $373 million, reflecting a decrease of 2.4% from the previous year [22] Guidance and Strategy - The company plans to maintain a disciplined approach in 2026, focusing on administrative costs, capex management, and labor productivity [3] - Lineage aims to leverage its network to adapt to shifting customer needs, positioning itself for long-term value creation [3] Balance Sheet Highlights - As of December 31, 2025, total assets were $19,185 million, up from $18,661 million in 2024 [13] - Total liabilities increased to $9,942 million from $8,967 million in the previous year [13] - Stockholders' equity decreased to $9,236 million from $9,651 million in 2024 [13]