Americold Realty Trust reports Q4 AFFO 37c, consensus 36c

Reports Q4 revenue $666.4M, consensus $684.03M. CEO George Chappelle stated, “Throughout 2024 we made significant progress on several productivity, efficiency and development initiatives that allowed us to deliver strong full-year results, including 11.4% growth in Global Warehouse Same Store NOI and 16% growth in Adjusted FFO per share. In addition, we are especially pleased with the progress we made on improving warehouse services margins throughout the year…We are also strategically deploying capital across the business and announced three new projects during 2024 in Kansas City, Dallas Fort Worth, and Sydney, Australia. Subsequent to year end, we also announced an exciting $79M development in Port Saint John, Canada with our strategic partners DP World and CPKC, and today we are announcing a $34M expansion in Christchurch, New Zealand dedicated to one of the country’s largest grocers…As we turn our focus to 2025, we are continuing to make targeted investments across the business that position us for future growth, while also enhancing our proven ability to perform in various macroeconomic environments. I want to thank our entire team for their hard work and dedication, and I believe Americold is well positioned for the eventual return of consumer demand.”