Americold Realty Trust (NYSE:COLD) Announces Earnings Results, Beats Expectations By $0.37 EPS

Key Points

• Americold beat quarterly expectations: EPS was $0.35 versus analysts’ consensus of a $0.02 loss, while revenue of $691.56 million exceeded estimates of $640.82 million and rose 4.2% year over year.
• The company raised its 2026 AFFO guidance to $1.31–$1.33 per share. Its EQT joint venture also enabled about $1.15 billion in debt repayment and is expected to reduce annual interest expense by nearly $50 million.
• Management anticipates a cautious demand environment and a softer start to 2027, citing seasonal occupancy declines, customer logistics changes, and expected joint-venture dilution.

Americold Realty Trust (NYSE:COLD - Get Free Report) announced its earnings results on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.37, Zacks reports. The firm had revenue of $691.56 million for the quarter, compared to analyst estimates of $640.82 million. Americold Realty Trust had a net margin of 9.03% and a return on equity of 8.70%. Americold Realty Trust's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share.

Here are the key takeaways from Americold Realty Trust's conference call:

• Occupancy and earnings improved, and 2026 guidance rose again. Physical occupancy reached 70%, up 460 basis points year over year, while Q3 AFFO was $0.35 per share; Americold raised full-year AFFO guidance to $1.31–$1.33.
• The EQT joint venture materially strengthened the balance sheet. The $1.3 billion transaction generated about $1.15 billion in debt repayment, reduced leverage to 6.2x, eliminated debt maturities through 2028, and is expected to lower annual interest expense by nearly $50 million.
• Handling profitability reached a record. Handling margin rose to 15.9%, up 230 basis points year over year, while same-store warehouse revenue increased 4.9% and NOI grew 5.5%; transportation NOI was up 23% year to date.
• Americold is pursuing new sources of growth. The company signed its first European QSR customer and won aerospace-related business, while continuing to sell underperforming sites; management said some non-food opportunities may offer more compelling margins, though these efforts are at an early stage.
• Management expects a cautious demand environment and a softer start to 2027. Consumer demand remains pressured, and the company is planning for conditions broadly similar to 2026; seasonal occupancy declines, customer logistics rationalizations, and $0.07–$0.08 of incremental JV dilution are expected to weigh on 2027 AFFO, particularly in Q1.

Americold Realty Trust Trading Up 1.4%

Americold Realty Trust stock traded up $0.23 during midday trading on Friday, reaching $16.04. The stock had a trading volume of 8,722,867 shares, compared to its average volume of 3,525,258. Americold Realty Trust has a twelve month low of $10.10 and a twelve month high of $16.88. The stock has a market capitalization of $4.58 billion, a PE ratio of 11.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.10 and a current ratio of 0.10. The stock's 50-day simple moving average is $14.38 and its 200 day simple moving average is $13.85.

Americold Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.23 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.92 dividend on an annualized basis and a yield of 5.7%. Americold Realty Trust's dividend payout ratio (DPR) is presently -57.86%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Scotiabank raised Americold Realty Trust from a "sector perform" rating to a "sector outperform" rating and set a $16.00 price target on the stock in a research note on Friday, October 2nd. DA Davidson set a $16.00 price objective on Americold Realty Trust in a research report on Tuesday, August 18th. JPMorgan Chase & Co. upgraded Americold Realty Trust from an "underweight" rating to a "neutral" rating and set a $16.00 target price for the company in a research note on Thursday, September 24th. Piper Sandler reduced their target price on Americold Realty Trust from $17.00 to $15.00 and set a "neutral" rating on the stock in a research report on Monday, October 12th. Finally, KeyCorp reissued an "overweight" rating on shares of Americold Realty Trust in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Americold Realty Trust currently has a consensus rating of "Hold" and a consensus price target of $15.46.

Trending Headlines about Americold Realty Trust

Here are the key news stories impacting Americold Realty Trust this week:

• Positive Sentiment: Americold reported Q3 adjusted FFO of $0.35 per share, above the $0.32 FactSet estimate, while revenue rose 4.2% year over year to $691.6 million and exceeded expectations. The company also reported year-over-year revenue and NOI growth. Americold Announces Third Quarter 2026 Results
• Positive Sentiment: Management raised its 2026 adjusted FFO outlook for a second consecutive time, projecting $1.31–$1.33 per share. Improving warehouse performance and stabilizing cold-storage demand underpin the upgraded outlook. Americold raises full-year outlook as warehouse performance improves
• Positive Sentiment: The company highlighted a $1.15 billion reduction in outstanding debt; its EQT joint venture is also expected to lower annual interest expense by nearly $50 million, potentially easing financing costs. Americold projects 2026 AFFO and EQT joint venture interest savings
• Neutral Sentiment: Adjusted FFO was unchanged from the year-ago quarter. The earnings beat and guidance increase are encouraging, but flat per-share FFO shows that growth remains gradual. Americold Q3 adjusted FFO flat, revenue rises

About Americold Realty Trust

Americold Realty Trust, Inc is a real estate investment trust that owns, operates and develops temperature-controlled warehouses and distribution facilities. Through its operating platform, Americold Logistics, the company provides refrigerated and frozen storage, handling, transportation and supply-chain services for food producers, retailers, distributors and other customers.

Its facilities support the movement of perishable products, including meat, seafood, dairy, fruit, vegetables, prepared foods and pharmaceuticals.

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