Americold Q3 2023 Earnings Report
Key Takeaways
Americold Realty Trust announced its Q3 2023 results, with an AFFO per share of $0.32, a 10% increase year-over-year. The company's global warehouse same-store pool saw NOI growth of 5.3% on a constant currency basis, driven by economic occupancy growth and pricing initiatives. They raised $419 million in common equity to reduce leverage and support development and M&A. The company is raising its full-year 2023 AFFO per share guidance to $1.24 to $1.30.
AFFO per share increased by over 10% to $0.32 compared to the prior year's quarter.
Global warehouse same store pool generated NOI growth of 5.3% on a constant currency basis.
Same store economic occupancy increased 345 basis points year over year to 84.0%.
Successfully raised $419 million in common equity through the ATM program.
Americold
Americold
Americold Revenue by Segment
Forward Guidance
The Company is maintaining its annual AFFO per share guidance to be within the range of $1.24 - $1.30.