Americold Realty Trust(US:COLD)2025-06-26 09:12Financial Performance - Total revenue for Q1 2024 was $665 million, a 1.7% decrease compared to $676.5 million in Q1 2023 [12, 18] - Total NOI increased by 12.4% to $210.8 million in Q1 2024 from $187.6 million in Q1 2023 [12, 19] - Core FFO for Q1 2024 was $77.3 million, or $0.27 per diluted share, compared to $60.8 million, or $0.22 per diluted share, in Q1 2023 [12, 20] - AFFO for Q1 2024 was $104.9 million, or $0.37 per diluted share, compared to $79.9 million, or $0.29 per diluted share, in Q1 2023 [12, 21] Warehouse Segment Performance - Global Warehouse segment revenue was $597.7 million in Q1 2024, a 0.4% increase from $595.1 million in Q1 2023 [23, 25] - Global Warehouse contribution (NOI) was $197.1 million in Q1 2024, a 12.8% increase from $174.8 million in Q1 2023 [23, 26] - Global Warehouse same store revenue decreased 0.7% on an actual basis but increased 0.8% on a constant currency basis [12] - Global Warehouse same store NOI increased 8.6% on an actual basis and 10.1% on a constant currency basis [12] - Global Warehouse services margins delivered record first quarter margins of 10.7% [11] Occupancy and Fixed Commitments - Economic occupancy for the total warehouse segment was 79.4%, while the same store pool was 80.9% [23, 29] - Approximately 54.2% of rent and storage revenue was generated from fixed commitment storage contracts [28] - Fixed commitment rent and storage revenue was $597.9 million [27] 2024 Outlook - Warehouse segment same store revenue growth (constant currency) is projected at 2.5% - 5.5% [14] - AFFO per share is guided to be between $1.38 and $1.46 [14]