Lineage presents strategy to expand cold-chain margins through operational efficiency
LINE•Lineage outlined plans to reduce leverage through a portfolio review and balance growth investment with shareholder returns. Its 2025 adjusted EBITDA was $1.3 billion, global warehousing revenue was $3.9 billion, and net operating income was $1.5 billion at a 37.6% margin.
1. Operating priorities
Lineage said it plans to expand margins using proprietary technology, automation and artificial intelligence. The company also outlined a portfolio review to reduce leverage and plans to balance growth investment with shareholder returns.
2. Capacity and results
Lineage reported 2025 adjusted EBITDA of $1.3 billion and global warehousing revenue of $3.9 billion. Global warehousing net operating income was $1.5 billion, with a 37.6% margin. Lineage and Americold’s combined capacity idling in 2025-2026 represents approximately 4% of total 2025 U.S. public refrigerated warehouse capacity.
