Americold Q2 2020 Earnings Report
Key Takeaways
Americold Realty Trust reported a strong second quarter in 2020, with a 10.0% increase in total revenue to $482.5 million and a 6.0% increase in total NOI to $128.3 million. The company's performance was driven by strategic acquisitions, same-store portfolio growth, and elevated retail activity, highlighting the stability of its business model despite the COVID-19 pandemic.
Total revenue increased by 10.0% to $482.5 million.
Total NOI increased by 6.0% to $128.3 million.
Global Warehouse segment revenue increased by 10.1% to $372.4 million.
Net income was $32.7 million, or $0.16 per diluted common share.
Americold
Americold
Americold Revenue by Segment
Forward Guidance
The Company is revising its AFFO per share guidance from $1.22 - $1.30 to $1.24 - $1.30 for 2020.
Positive Outlook
- Deferred income tax benefit of $2 million - $4 million.
- Non-real estate amortization and depreciation expense of $70 million - $72 million.
- Maintenance capital expenditures of $65 million - $73 million.
- Development starts of $400 million - $500 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income