Americold Q2 revenue rises 1.9%, beats estimates
COLD•Q2 results beat estimates
Americold reported second-quarter revenue growth of 1.9% year over year, beating analyst expectations.
Adjusted FFO per share declined slightly year over year to $0.35 from $0.36.
The company said higher transportation services revenue contributed to overall revenue growth. Higher physical occupancy and rate increases supported same-store warehouse revenue growth, while increased energy costs reduced warehouse segment NOI and margins.
Key reported figures and analyst view
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $662.90 million | $620.06 million (5 analysts) |
| Q2 Loss Per Share | $1.19 | ||
| Q2 Net Loss | $342.80 million | ||
| Q2 Adjusted EBITDA | $159.10 million | ||
| Q2 Adjusted FFO | $102 million |
The current average analyst rating on the shares is hold, with 5 strong buy or buy ratings, 8 hold ratings and 3 sell or strong sell ratings. The median 12-month price target for Americold Realty Trust Inc is $16.00, about 14% above its August 5 closing price of $14.03.
Guidance raised on stabilization and occupancy
Americold raised full-year Adjusted FFO guidance, citing industry stabilization and improved occupancy.
