📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Americold Realty Trust, Inc. is a global leader in temperature-controlled logistics and real estate, with a more than 120-year legacy of innovation and reliability.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

⭐ Superinvestors Holding COLD

View All Superinvestors →

Manager	Shares	Value	% of Fund	Period
Seth Klarman Baupost Group	7.78M	$89.2M	1.74%	Mar 2026
Jim Simons Renaissance Technologies LLC	1.67M	$19.2M	0.03%	Mar 2026
Steve Cohen Point72 Asset Management	68.3K	$783K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific ~ Volatile 4 quarters analysed

Q2 2025

Cautious

Management repeatedly uses phrases like 'the external environment remains challenging', 'taking a more conservative view', and 'removing the traditional seasonal inventory build' while emphasizing ability to control variable costs but acknowledging sustained headwinds from interest rates, tariffs, and inflation.

Q3 2025

Mixed

Management balances cautious near-term guidance (expecting pricing headwinds of 100-200 bps and economic occupancy decline of 200-300 bps in 2026) with confident long-term positioning (unique node diversification, fixed commitments at 60%, and robust sales pipeline). They emphasize transitory nature of headwinds while acknowledging persistent demand and supply pressures.

Q4 2025

Mixed

Management expresses cautious optimism: 'we are entering 2026 with a clear set of priorities... while we recognize there are still challenges across the industry' and 'we are taking a pragmatic view to our outlook' – confident about internal initiatives but guarded on macro demand.

Q1 2026 latest

Confident Specific

Management repeatedly emphasized that all key metrics were in line or slightly better than guidance, AFFO per share of $0.29 beat consensus, and physical occupancy flat year-over-year. Specific language included 'delivered three straight quarters that either met or exceeded AFFO per share consensus' and 'commercial teams continue to lead with our value proposition'. The tone is confident and backed by concrete numbers and achievements.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Management demonstrated execution on key strategic priorities, particularly the JV at a 7% cap rate (a clear premium to public market valuation), which directly addresses the balance sheet leverage concern. The call reinforced that occupancy has stabilized and AFFO guidance is maintained despite the JV headwind, implying underlying operational improvement. However, the market environment remains soft, and the full-year AFFO impact of the JV is only partially offset by cost savings and better-than-expected trends. Key items to watch next quarter: closing of the JV (expected Q3), further details on additional cost savings, and whether occupancy gains continue into the second half of the year.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific ~ Volatile 4 quarters Full tone analysis in Intelligence →

📊 MIXED Americold Q1 AFFO $0.29 beats consensus; JV with EQT at 7% cap rate

Revenue & Profitability

Q1 2026 AFFO was $0.29 per share, above analyst consensus. Same-store warehouse NOI decreased 4.5% year-over-year, impacted by pricing pressure and a $2 million energy cost headwind. Core SG&A was relatively flat year-over-year. Net debt to pro forma core EBITDA stood at 7.1x at quarter end.

Outlook

Management notes customers remain cautious but observes inventories stabilizing; physical occupancy was flat year-over-year and trends continued into April. Some customers report sales growth and increased promotional spend, which could drive organic volume. The industry still faces excess capacity from speculative building, but smaller operators are exiting.

Growth Drivers

Growth levers include e-commerce (double-digit growth, five sites covering 99.5% of U.S. in two days), expansion in non-food categories (pet food, floral, pharma), and international wins (On the Run convenience network in Australia, 10-year KFC renewal). The McCain Foods development in Plover, Wisconsin (56,000 pallet positions, 20-year fixed commitment) is a key customer-driven project.

Balance Sheet & CapEx

Not discussed in aggregate. However, expansions in Sydney and Christchurch were delivered on time and budget. The company purchased an existing leased facility at a discount and entered into a 15-year triple net lease, achieving an approximate 10% return. Future development may be funded through the JV with EQT.

Margins

Margin trajectory not explicitly guided, but cost actions reduced indirect labor by 400 positions and lowered SG&A. Power expense represents about 6% of same-store warehouse costs and is managed via surcharges, locked rates in deregulated states, and AI for peak-shaving. Pricing metrics marginally overperformed expectations in Q1.

Key Risks

Key risks include ongoing storage pricing pressure and lower throughput, energy cost volatility ($2 million headwind in Q1), macro uncertainty leading to cautious customer outlook, and potential delays in stabilization of development projects due to soft market conditions. The JV closing is subject to customary conditions.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Q2 2026 saw AFFO per share exceed expectations for the fourth straight quarter, driven by market share gains, improved occupancy, and pricing. Full-year AFFO guidance was raised, with strong progress on deleveraging and portfolio optimization.

Q1 2026 Q1 2026 2026-05-07

AFFO per share exceeded expectations in Q1 2026, with stabilized occupancy and strong contract renewals. A $1.3B joint venture with EQT will fund debt repayment and reduce leverage, while guidance for the year is maintained despite anticipated JV headwinds.

Q4 2025 Q4 2025 2026-02-19

Q4 2025 results exceeded expectations, with AFFO per share at $0.38 and strong year-over-year growth in NOI and EBITDA. 2026 guidance anticipates AFFO of $1.20–$1.30 per share amid ongoing industry headwinds, with a focus on deleveraging, cost control, and portfolio optimization.

Q3 2025 Q3 2025 2025-11-06

Third-quarter AFFO per share met expectations amid persistent demand and pricing headwinds. Economic occupancy and throughput remain pressured, but revenue per pallet improved and new business wins set a record. Guidance is reiterated, with further occupancy and pricing headwinds expected in 2026.

Q2 2025 Q2 2025 2025-08-07

Q2 2025 results were stable but challenged by persistent demand and pricing headwinds, leading to reduced AFFO guidance and flat occupancy expectations for the rest of the year. Strategic development projects were completed under budget, and capital is being redeployed into higher-return opportunities.

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.