Americold Realty Trust ( (COLD) ) has released its Q4 earnings. Here is a breakdown of the information Americold Realty Trust presented to its investors.
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Americold Realty Trust is a global leader in temperature-controlled logistics, specializing in the ownership, operation, acquisition, and development of temperature-controlled warehouses. The company plays a crucial role in the food supply chain, connecting producers, processors, distributors, and retailers to consumers across multiple continents.
In its latest earnings report, Americold Realty Trust announced a successful fiscal year 2024, highlighted by significant growth in its key financial metrics. The company reported double-digit growth in Adjusted Funds from Operations (FFO) per share, alongside a notable increase in Same Store Warehouse Services Net Operating Income (NOI). These results come amid strategic expansions and developments in various global locations.
Key financial highlights for Americold in 2024 include a 16% increase in Adjusted FFO per share and an 11.4% growth in Global Warehouse Same Store NOI. The company also reported a $125 million year-over-year improvement in Same Store handling NOI, surpassing its previously set goals. Despite these achievements, the company experienced a net loss of $94.7 million for the year, primarily influenced by strategic investments and operational costs.
Strategically, Americold announced new projects worth $79 million in Canada and a $34 million expansion in New Zealand, which are part of its ongoing efforts to deploy capital across the business efficiently. These expansions aim to enhance the company’s capacity and service offerings, positioning it for sustained growth and value creation for shareholders.
Looking forward, Americold Realty Trust remains focused on targeted investments that will foster future growth and adaptability to various macroeconomic conditions. The company is poised to leverage its strategic initiatives and partnerships to enhance its market position and shareholder value in the coming years.
