Q2 2025 Americold Realty Trust Inc Earnings Call Transcript
Key Points
- Americold Realty Trust Inc (COLD) was recognized as a top 3PL and cold stores provider by Food Logistics Magazine, highlighting its innovative and high-quality solutions.
- The company successfully completed several key development projects under budget, including facilities in Kansas City, Allentown, and Dubai, showcasing effective cost management.
- Americold Realty Trust Inc (COLD) maintained a strong perm to temp hours ratio of 75-25, enhancing productivity and flexibility in labor management.
- The company achieved a 90 basis point improvement in same-store warehouse services margins year over year, reaching 13.3% for the quarter.
- Americold Realty Trust Inc (COLD) secured significant new retail wins in Europe, expanding its leadership position in the retail and QSR business, which is a high cash flow segment.
- Same-store economic occupancy declined slightly in the second quarter, with ongoing demand headwinds affecting occupancy gains.
- The company faced pricing pressure in the US market, with some competitors making irrational pricing moves, impacting revenue growth.
- Americold Realty Trust Inc (COLD) did not see the typical seasonal uptick in occupancy and throughput, leading to a more conservative outlook for the second half of the year.
- The company reduced its AFFO guidance to $1.39 to $1.45 per share due to continued market headwinds, including interest rates, tariffs, and inflation.
- Customers are leveraging available capacity in their own infrastructure rather than utilizing third-party storage providers, adding pressure to occupancy rates.
Greetings and welcome to the Americold Realty Trust second-quarter 2025 earnings conference call.
(Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Rich Leland, Vice President of Investor Relations and Treasurer.
Thank you, sir. You may begin.
Good morning.
Thank you for joining us today for Americold Realty Trust's second-quarter 2025 earnings conference call. in addition to the press release distributed this morning, we have filed a supplemental financial package with additional details on our financial results which is available in the Investor Relations section on our website at www.americold.com.
This morning's conference call is hosted by Americold's Chief Executive Officer, George Chappelle; President, Rob Chambers; and Chief Financial Officer, Jay Wells. Management will make some
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