Welcome to our dedicated page for Americold Realty Trust news (Ticker: COLD), a resource for investors and traders seeking the latest updates and insights on Americold Realty Trust 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) reported Q2 2022 results with total revenue of $729.8 million, up 11.5% year-over-year. Total NOI increased 8.3% to $168.3 million. Core FFO rose to $65.4 million, or $0.24 per diluted share, while AFFO was $73.9 million, or $0.27 per diluted share. Global Warehouse segment revenue grew 12.0% to $564.4 million. However, the company reported a net income of only $4.0 million, compared to a loss of $13.4 million in Q2 2021. Economic occupancy stood at 77.4%, reflecting improved customer demand despite inflationary pressures.
Americold Realty Trust (NYSE: COLD) announced it will release its Q2 2022 financial results after market close on August 4, 2022. A conference call is scheduled for the same day at 5:00 p.m. Eastern Time, available through a webcast on the company’s Investor Relations website. Americold is the largest publicly traded REIT specializing in temperature-controlled warehouses, operating 249 facilities with approximately 1.5 billion refrigerated cubic feet of storage across North America, Europe, Asia-Pacific, and South America, connecting food producers to consumers.
Americold Realty Trust (NYSE: COLD) has officially opened its first cold storage facility in western New York, located in Dunkirk. The new 181,000 square foot, LEED-certified facility features 25,000 pallet positions to enhance local cold storage capabilities. This expansion aligns with customer demand and aims to deliver top-notch service. The facility will create over 60 jobs and contributes to community support by distributing food essentials to more than 300 families in Dunkirk, in partnership with Feed the Children.
Americold Realty Trust (NYSE: COLD) announced a dividend of $0.22 per share for Q2 2022, payable on July 15, 2022 to shareholders of record as of June 30, 2022. As the largest publicly traded REIT specializing in temperature-controlled warehouses, Americold operates 249 facilities globally, with around 1.5 billion cubic feet of refrigerated storage. The company plays a vital role in the supply chain, ensuring food products reach consumers efficiently.
Americold Realty Trust (NYSE: COLD) reported a 11.2% increase in total revenue for Q1 2022, totaling $705.7 million. However, the company experienced a net loss of $17.4 million, or $0.06 per diluted share, compared to a net loss of $14.2 million in Q1 2021. Core FFO decreased to $46.3 million from $62.5 million year-over-year, reflecting ongoing challenges like labor shortages and inflation. The Global Warehouse segment saw revenue rise 11.4% to $540.9 million, but same-store NOI decreased by 4.7%. The company maintains its annual AFFO guidance of $1.00 - $1.10 per share.
Americold Realty Trust (NYSE: COLD) will release its first quarter 2022 financial results on May 5, 2022, after the market closes. A conference call is scheduled for the same day at 5:00 p.m. Eastern Time. Stakeholders can access the live webcast through the Investor Relations section of Americold's website. Americold is the largest publicly traded REIT focused on temperature-controlled warehouses, owning 250 facilities worldwide with about 1.5 billion cubic feet of refrigerated storage, playing a crucial role in the food supply chain.
PLS Logistics Services has appointed Fred Boehler, former CEO of Americold Logistics (COLD), to its board of directors. Boehler brings over 30 years of supply chain management experience, particularly in the cold supply chain sector. His previous roles include Senior Vice President of Supply Chain at SUPERVALU and nearly nine years on the Board of Directors of the Global Cold Chain Alliance. This strategic addition aims to enhance PLS's growth in the cold supply chain segment, which is a key focus area for the company that reported revenues exceeding $1.2 billion in 2022.
Americold Realty Trust (NYSE: COLD) has announced a dividend of $0.22 per share for Q1 2022, payable on April 15, 2022, to shareholders recorded by March 31, 2022. As the largest publicly traded REIT focused on temperature-controlled warehouses, Americold operates 250 facilities across North America, Europe, Asia-Pacific, and South America, totaling approximately 1.5 billion cubic feet of refrigerated storage. The company plays a critical role in the supply chain, connecting food producers, processors, distributors, and retailers to consumers.
Americold Realty Trust (NYSE: COLD) has appointed George F. Chappelle Jr. as Chief Executive Officer, effective immediately. The Board of Trustees believes Chappelle, who served as Interim CEO since November 2021, is well-suited to lead the company, given his extensive experience in logistics and supply chain management. Chappelle's leadership is expected to drive growth and enhance shareholder value, as he emphasizes operational excellence and the company's essential role in the food supply chain.
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