Q3 2025 Americold Realty Trust Inc Earnings Call Transcript
Key Points
- Americold Realty Trust Inc (COLD) reported third quarter AFFO per share of $0.35, in line with expectations.
- The company has a strong development pipeline with approximately $1 billion of attractive opportunities.
- Americold's strategic partnerships, such as those with CPKC and DP World, provide unique supply chain solutions.
- The company has maintained a high level of fixed commitments at 60% of rent and storage revenue.
- Americold is expanding its capabilities overseas, with new retail wins in Europe and a strong presence in Australia and New Zealand.
- Same-store economic occupancy was down year-over-year at 75.5%, reflecting continued demand pressure.
- The macro environment remains challenging, with lower consumer demand and increased supply impacting pricing and occupancy.
- Pricing pressure is expected to be a headwind of 100 to 200 basis points in 2026.
- Economic occupancy is anticipated to decrease by approximately 200 to 300 basis points next year.
- The company faces headwinds from speculative capacity in the 4 distribution node, which is about 40% of its business.
Greetings, and welcome to the Americold Realty Trust third quarter 2025 earnings call. (Operator Instructions) Please note, this conference is being recorded.
I will now turn the conference over to your host, Rich Leland. Please go ahead.
Good morning, and thank you for joining us today for Americold Realty Trust's third quarter 2025 earnings conference call. In addition to the press release distributed this morning, we have filed a supplemental financial package with additional detail on our results. These materials are available on the Investor Relations section of our website at www.americold.com.
This morning's conference call is hosted by Americold's Chief Executive Officer, Rob Chambers; and Jay Wells, our Chief Financial Officer. Management will make some prepared comments, after which we will open up the call to your questions.
Before we begin, let me
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