AMERICOLD REALTY TRUST (COLD) Company Report

Americold Realty Trust has formed a new partnership with On the Run (OTR), an Australian P&C brand, to provide storage and distribution services for OTR's supply chain in Adelaide and its national expansion.
This partnership expands Americold's expertise into the convenience segment, building on its strong leadership position in the Quick Service Restaurant (QSR) sector in Asia-Pacific.
Expanding into new sectors, such as convenience retail, is identified as one of Americold's key growth priorities for 2026.

Dec 23, 2025, 2:00 PM

Press Release

Americold Realty Trust Secures $250 Million Delayed Draw Term Loan Facility

COLD

Debt Issuance

On December 19, 2025, Americold Realty Trust, Inc. and its subsidiary, Americold Realty Operating Partnership, L.P., entered into a Second Amendment to their Credit Agreement.
This amendment establishes a new U.S. dollar unsecured delayed draw term loan facility (the "2025 Delayed Draw Facility").
The facility's aggregate principal amount and the portion allocated for debt repayment are detailed in the table below.
The primary use of the 2025 Delayed Draw Facility is to repay the Operating Partnership's 4.68% senior unsecured notes which are due on January 8, 2026, and for general corporate purposes.
Bank of America, N.A. is the sole lender for this facility.

Metric	Q4 2025
2025 Delayed Draw Term Facility Amount ($USD)	$250,000,000
Amount for Senior Unsecured Notes Repayment ($USD)	$200,000,000

Dec 22, 2025, 9:05 PM

8-K

Americold Enters Cooperation Agreement with Ancora, Appoints New Directors, and Forms Finance Committee

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Board Change

New Projects/Investments

M&A

Americold Realty Trust entered into a Cooperation Agreement with Ancora Parties on December 22, 2025, following Ancora's nomination of director candidates for the 2026 annual Shareholder Meeting.
The company appointed Joseph Reece and Stephen Sleigh to its Board of Directors, effective immediately, increasing the Board size from nine to eleven members.
A new Finance Committee was established, composed of five directors including Joseph Reece (Vice Chair) and Stephen Sleigh, with David Neithercut serving as Chair.
This committee is an advisory body responsible for making recommendations to the Board regarding the company's capital allocation strategy and business portfolio.
The Finance Committee will specifically focus on reviewing the company's portfolio for prospective sales or divestitures, identifying opportunities to reduce debt, maintain the dividend, and preserve core assets.

Dec 22, 2025, 12:07 PM

8-K

Americold Realty Trust Reaffirms 2025 Financial Outlook

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Guidance Update

New Projects/Investments

Americold Realty Trust reaffirmed its full-year 2025 financial outlook as previously communicated on November 6, 2025.
The company provided updated 2025 guidance for several key financial metrics, as detailed in the table below.
Americold also outlined plans for cost reductions in 2026, targeting more than $30 million in SG&A and indirect labor savings by the end of Q1 2026, plus an additional $50M+ year-over-year reduction in cash costs.

Metric	FY 2025
Warehouse segment same store revenue growth (constant currency) (%)	(4.0)-0.0
Warehouse segment same store NOI growth (constant currency) (bps)	50 to 100 lower than associated revenues
Warehouse segment non-same store NOI ($USD Millions)	$7-$13
Warehouse segment same store rent and storage revenue per economic occupied pallet (constant currency) (%)	1.0-2.0
Warehouse segment same store services revenue per throughput pallet (constant currency) (%)	1.0-2.0
Transportation and Management segment NOI ($USD Millions)	$40-$44
Total selling – general and administrative expense ($USD Millions)	$270-$280
Interest Expense ($USD Millions)	$145-$149
Current income tax expense ($USD Millions)	$6-$8
Non real estate depreciation and amortization expense ($USD Millions)	$139-$149
Total maintenance capital expenditures ($USD Millions)	$60-$70
AFFO Per Share ($USD)	$1.39-$1.45

Dec 9, 2025, 12:01 PM

8-K

Americold Reports Q3 2025 Results and Forecasts 2026 Headwinds

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Earnings

Guidance Update

Demand Weakening

Americold reported Q3 2025 AFFO per share of $0.35, which was in line with expectations, with same-store economic occupancy at 75.5%, flat sequentially but down year-over-year.
The company reiterated its guidance for the remainder of 2025 and anticipates continued pressure on pricing and economic occupancy throughout 2026.
For 2026, Americold expects a pricing headwind of 100 to 200 basis points and an approximate 200 to 300 basis point decrease in total economic occupancy.
These challenges are attributed to lower consumer demand, food inflation, and the absorption of approximately 3 million pallet positions of speculative capacity added in North America over the past four years, representing over 15% incremental capacity, which is expected to take a couple of years to resolve.

Nov 6, 2025, 1:00 PM

Transcript

Americold Realty Trust Announces Q3 2025 Results and Reaffirms Full-Year Outlook

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Earnings

Guidance Update

Demand Weakening

Americold Realty Trust reported total revenues of $663.7 million for Q3 2025, a 1.6% decrease from Q3 2024, resulting in a net loss of $11.4 million or $0.04 loss per diluted share.
The company delivered Adjusted FFO of $0.35 per diluted share in Q3 2025, consistent with the prior year, and reiterated its 2025 full-year outlook for Adjusted FFO per share between $1.39 and $1.45.
Global Warehouse segment same-store revenues decreased 1.5% and same-store NOI decreased 2.8% on a constant currency basis compared to Q3 2024, with total warehouse segment economic occupancy at 73.8%, a 290 basis point decrease from Q3 2024.
As of September 30, 2025, 60.0% of rent and storage revenues were derived from fixed commitment contracts or leases, carrying an 8-year weighted average stated term.

Nov 6, 2025, 12:08 PM

8-K

Americold's Dublin Facility Achieves Exclusive U.S. Meat Export Certification

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New Projects/Investments

Product Launch

Americold's Dublin facility has been certified by Ireland’s Department of Agriculture, Food and the Marine (DAFM) to export meat to the United States.
This certification positions Americold as the only dedicated third-party cold storage provider in Ireland with this capability, offering Irish meat producers a compliant logistics pathway to the U.S. market.
In 2025, Americold Ireland also completed five AA-rated BRC Global Standard audits across its facilities and successfully passed the McDonald’s Distributor Quality Management Process (DQMP) audit, reinforcing its commitment to high food safety and quality standards.
These achievements underscore Americold’s strategic focus on expanding its global footprint and enabling customer growth.

Oct 28, 2025, 11:00 AM

Press Release

ResearchAndMarkets.com Publishes North America Cold Chain Market Outlook Report

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Revenue Acceleration/Inflection

New Projects/Investments

The North America cold chain market is forecast to expand significantly, from an estimated $116.85 billion in 2025 to $289.58 billion by 2034, demonstrating a Compound Annual Growth Rate (CAGR) of 9.5%.
This growth is driven by increased global trade of temperature-sensitive products, burgeoning demand from the pharmaceutical and healthcare sectors, and the expansion of e-commerce and online grocery delivery services.
Americold Logistics LLC is identified as the largest publicly traded REIT specializing in temperature-controlled warehousing, operating alongside other major players such as Lineage Logistics Holding, LLC, United States Cold Storage Inc., and VersaCold Logistics Services.
Recent industry developments include new cold storage facilities by CJ Logistics America, Lineage Logistics' cross-border transportation service, and Agile Cold Storage, with United States Cold Storage Inc. completing an expansive refrigerated extension by February 2025.

Sep 29, 2025, 1:56 PM

Press Release

Americold Opens New Import-Export Hub in Partnership with CPKC

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New Projects/Investments

Hiring

Americold Realty Trust has opened a new $100+ million Import-Export Hub in Kansas City, Missouri, developed in partnership with Canadian Pacific Kansas City (CPKC).
This 335,000-square-foot facility is Americold's first on the CPKC rail network and serves as a key hub for the Mexico Midwest Express (MMX), North America's only single-line rail service for refrigerated goods between the U.S. and Mexico.
The hub features on-site USDA inspections to eliminate border delays and is expected to create nearly 190 new jobs.

Aug 12, 2025, 11:00 AM

Press Release

Americold Realty Trust Inc. Reports Q2 2025 Results and Updates Full-Year Guidance

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Guidance Update

Demand Weakening

New Projects/Investments

Americold Realty Trust Inc. reported Q2 2025 AFFO per share of $0.36.
The company reduced its full-year AFFO guidance to $1.39 to $1.45 per share and now expects same-store economic occupancy levels for the year to decrease by approximately 250 to 450 basis points.
These adjustments are attributed to continued market headwinds, including interest rates, tariffs, inflation, government benefit reductions, and excess capacity, which are pressuring occupancy rates and pricing.
Despite the challenges, Americold completed key development projects in Kansas City, Allentown, and Dubai , and maintained 60% of its rent and storage revenue from fixed-to-mid contracts for the quarter.