Americold Q1 2020 Earnings Report
Key Takeaways
Americold Realty Trust reported a strong first quarter in 2020, marked by significant revenue and NOI growth. The company's performance was driven by its core warehouse segment, benefiting from strategic acquisitions and the increased demand due to the COVID-19 pandemic. Americold is maintaining its AFFO per share guidance of $1.22 to $1.30 for 2020.
Total revenue increased by 23.1% to $484.1 million.
Total NOI increased by 37.2% to $135.4 million.
Global Warehouse segment revenue increased by 31.6% to $381.1 million.
Completed acquisitions of Nova Cold and Newport on January 2, 2020.
Americold
Americold
Americold Revenue by Segment
Forward Guidance
The company is maintaining its AFFO per share guidance of $1.22 to $1.30 for 2020. However, certain components are updated as follows:•Current income tax expense of $8 to $10 million.•Deferred income tax benefit of $2 to $3 million.•Please refer to its supplemental for currency translation rates embedded in this guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income