Welcome to our dedicated page for Americold Realty news (Ticker: COLD), a resource for investors and traders seeking the latest updates and insights on Americold Realty stock.
Americold Realty Trust, Inc. (NYSE: COLD) is a global leader in temperature-controlled logistics, specializing in the ownership, operation, acquisition, and development of temperature-controlled warehouses. Headquartered in Atlanta, Georgia, Americold is the world's second-largest owner and operator of these specialized warehouses, with approximately 245 facilities spanning 1.5 billion cubic feet of refrigerated space.
Founded with the mission to support the safe and efficient movement of food and other temperature-sensitive products, Americold plays a vital role in the global supply chain, connecting food producers, processors, distributors, and retailers to consumers. The company not only offers storage solutions but also provides value-added services such as supply management and transportation, ensuring a seamless logistics experience for its customers.
In 2022, Americold generated over 80% of its revenue from its extensive operations in the United States. The company also has a significant presence in Europe, Canada, Australia, and New Zealand. As a real estate investment trust (REIT), Americold focuses on generating steady income through its property portfolio while also reinvesting in the business to drive growth and innovation.
Recently, Americold announced a series of leadership updates. Marc J. Smernoff, the Executive Vice President and Chief Financial Officer, will be succeeded by Jay Wells, effective January 15, 2024. Jay Wells brings over 30 years of financial experience, having previously served as Chief Financial Officer at Primo Water and Molson Coors Beverages. These leadership changes reflect Americold's commitment to driving profitable growth and enhancing shareholder value.
Another significant development is Americold's strategic collaboration with Canadian Pacific Kansas City (CPKC) to develop new cold storage facilities. The first of these facilities will be located in Kansas City, Missouri, with an investment of $127 million. This project aims to create nearly 190 new jobs and will support CPKC’s Mexico Midwest Express service, enhancing the food supply chain between the U.S. and Mexico.
Americold's leadership in the industry is further underscored by its continuous expansion and implementation of advanced technologies and practices. The company's dedication to innovation and excellence ensures it remains a pivotal player in temperature-controlled logistics.
Americold Realty Trust (NYSE: COLD), a global leader in temperature-controlled logistics and real estate, has announced a dividend for the third quarter of 2024. The company's Board of Directors has declared a dividend of $0.22 per share, which will be payable on October 15, 2024 to stockholders of record as of September 30, 2024. This announcement demonstrates Americold's commitment to providing returns to its shareholders and maintaining its dividend policy.
Americold Realty Trust (NYSE: COLD) announced its Q2 2024 results, reporting a total revenue of $661.0 million, a modest increase of 1.7% from Q2 2023. However, the company recorded a net loss of $64.4 million, or $0.23 per diluted share, improved from a net loss of $104.8 million in the same period last year.
Key highlights include a 17.1% increase in NOI to $215.5 million and a record services margin for the second consecutive quarter. The Global Warehouse segment saw a rise in same-store NOI by 17.3%, with services margins increasing from 1.1% to 13.2%. Core FFO reached $95.0 million, or $0.33 per diluted share.
The company raised its full-year earnings guidance, anticipating AFFO per share to be between $1.44-$1.50. Capital deployment is expected to reach $200-$300 million. Liquidity stood at $553.7 million, with total net debt at $3.3 billion.
Americold Realty Trust, a global leader in temperature-controlled logistics and real estate, announced it will release its second quarter 2024 financial results on August 8, 2024, before the market opens. The company will host a conference call at 8:00 a.m. Eastern Time the same day. The webcast can be accessed via the Investor Relations section on Americold's website. Participants should register 15 minutes early for the webcast or dial in for the call 5 minutes prior. Playback will be available until August 22, 2024, via specified domestic and international numbers.
Blue Wolf Capital Partners has appointed Steve Sleigh as a Senior Advisor, succeeding Mike Musuraca, who retired after over a decade of service. Sleigh brings extensive experience from his consultancy, Sleigh Strategy, and previous roles in labor and investment realms. His expertise will aid Blue Wolf in labor management, new investments, and expanding partnerships with labor unions and institutional investors. This move continues Blue Wolf's tradition of integrating labor strategies to manage complexity and drive growth.
Americold Realty Trust (NYSE: COLD), a leader in temperature-controlled logistics and real estate, announced a dividend of $0.22 per share for Q2 2024. This dividend will be paid in cash on July 15, 2024, to stockholders recorded as of June 28, 2024. Americold continues its focus on owning, operating, acquiring, and developing temperature-controlled warehouses.
Americold Realty Trust, Inc. (NYSE: COLD) announced strong financial results for Q1 2024 with total revenue of $665.0 million, NOI up 12.4% to $210.8 million, and AFFO per share growth of over 28%. The company achieved double digit services margins and raised annual guidance, showcasing growth in core areas and strategic partnerships. However, non-same store NOI declined and occupancy rates saw a decrease compared to the prior year.
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