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Dec 31, 2023
Americold Q4 2023 Earnings Report
Americold's Q4 2023 performance was marked by a decrease in total revenue, offset by growth in the Global Warehouse segment and a significant rise in AFFO per share. The company reported a net loss but saw improvements in Core EBITDA and Global Warehouse segment NOI. Strategic partnerships and developments were also announced.
Key Takeaways
Americold Realty Trust reported a decrease in total revenue for Q4 2023, but experienced growth in its Global Warehouse segment. The company delivered a substantial increase in AFFO per share and announced new strategic developments. Despite a net loss, there were improvements in Core EBITDA and Global Warehouse segment NOI.
AFFO per share increased by over 31% compared to the prior year's quarter, reaching $0.38.
Global Warehouse same store pool generated NOI growth of 7.9% on a constant currency basis.
Warehouse Services margins improved to 6.1%, a 330 basis point increase from the previous quarter.
Fixed commitment storage contracts accounted for 52.2% of rent and storage revenue, setting a new record for Americold.
Revenue by Segment
Forward Guidance
The Company announced its 2024 annual AFFO per share guidance to be within the range of $1.32 - $1.42.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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