Lineage Q1 Adjusted EBITDA Climbs 3.3% to $314M, AFFO Falls 8.2%
Lineage posted Q1 revenue of $1,297M, up 0.4%, GAAP net loss of $51M or $0.18 per share, and adjusted EBITDA of $314M, up 3.3% with 24.2% margin. AFFO declined 8.2% to $201M ($0.78 per share); it affirmed 2026 adjusted EBITDA guidance of $1.25B–$1.30B, AFFO per share guidance of $2.75–$3.00.
1. Q1 Financial Results
Lineage reported Q1 revenue of $1,297 million, up 0.4%, and a GAAP net loss of $51 million, or $0.18 per share, reflecting stable demand in its temperature-controlled network.
2. EBITDA and AFFO Trends
Adjusted EBITDA rose 3.3% to $314 million, lifting the margin by 70 basis points to 24.2%, while AFFO declined 8.2% to $201 million, or $0.78 per share, influenced by higher operating costs and seasonal factors.
3. Dividend and 2026 Guidance
The board declared a quarterly dividend of $0.5325 per share, up 1% annually, and maintained full-year 2026 guidance for adjusted EBITDA of $1.25 billion to $1.30 billion and AFFO per share of $2.75 to $3.00.