Subscribe to the daily news Sign in
En
Americold Realty Trust, Inc. Announces Second Quarter 2023 Results

Americold Realty Trust, Inc. Announces Second Quarter 2023 Results

Americold Realty Trust, Inc. (NYSE: COLD) (the “Company”), a global leader in temperature-controlled logistics real estate, and value-added services focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, today announced financial and operating results for the second quarter ended June 30, 2023.

George Chappelle, Chief Executive Officer of Americold Realty Trust, Inc., stated, “We are pleased with our second quarter results where we delivered AFFO per share of $0.28. This performance was primarily driven by our global warehouse same store pool, which generated revenue growth of 3.9% and NOI growth of 13.8%, versus prior year, both on a constant currency basis. Our strong same-store pool results were driven by meaningful economic occupancy growth and our continued pricing initiatives. Our same store economic occupancy increased by 687 basis points over prior year to 84.8%, a record-setting, second quarter level. Additionally, this quarter, we derived 48.5% of rent and storage revenue from fixed commitment storage contracts, which is another record-setting level for Americold.”

“As a result of the progress we have made around economic occupancy and pricing initiatives in our same store pool, we are increasing our full year 2023 AFFO per share guidance to the range of $1.20 to $1.30. This guidance increase reflects both a strong first half of the year in combination with continued progress throughout the second half of the year.”

“Lastly, during the quarter, we announced our agreement with Canadian Pacific Kansas City, or CPKC, one of North America's largest railroad companies. Our agreement with CPKC is a strategic collaboration in which Americold will build, own and operate cold storage facilities on the land located on CPKC’s railroad network. Similar to our recent DP World announcement, our agreement with CPKC illustrates Americold’s unique ability to create value by collaborating with global leaders in the supply-chain. We look forward to continuing to support our customers’ growth through these exclusive collaborations as well as through other traditional greenfield development and expansion opportunities.”

Read More

Share

Related news

Agile Cold Storage opens new Ti Cold-built facility in Louisiana
Agile Cold Storage has officially opened its new cold storage facility in Pearl River, Louisiana, marking the company's second completed project with design-build firm Ti Cold. The announcement...
03 Jun 2025
Americold starts construction on cold storage hub at Port Saint John
Americold Realty Trust has broken ground on a new cold storage facility at Port Saint John, New Brunswick. This marks the company’s first import-export hub in Canada and its sixth facility in th...
30 May 2025
NewCold to invest over $275M in automated warehouse in Maryland
NewCold has announced plans to invest more than $275 million in a new temperature-controlled automated warehouse in Hagerstown, Maryland. The facility will feature the company’s proprietary a...
30 May 2025
Americold appoints Rob Chambers as President, expands executive roles
Americold has announced new executive appointments aimed at enhancing operational execution and global growth. Rob Chambers has been named President, a newly created role with responsibility fo...
yesterday
Americold Acquires Cold Storage Facility in Houston for $127 Million
Americold Realty Trust, Inc. has announced the acquisition of a temperature-controlled facility in Houston, Texas, for approximately $127 million, including planned expansion and equipme...
18 Mar 2025
Hussmann launches Protocol CO2 unit using natural refrigerant
Hussmann, a Panasonic company, has introduced the Protocol CO2 refrigeration unit as part of its Evolve Technologies portfolio. This new model expands the Protocol product line, which began in ...
04 Jun 2025