Americold Realty Trust (NYSE:COLD) Announces Earnings Results

Americold Realty Trust (NYSE:COLD) announced its quarterly earnings data on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.37, Zacks reports. The business had revenue of $691.56 million during the quarter, compared to the consensus estimate of $640.82 million. Americold Realty Trust had a net margin of 9.03% and a return on equity of 8.70%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm 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 Stock Up 1.4%

Shares of COLD traded up $0.23 during mid-day trading on Friday, reaching $16.04. The company’s stock had a trading volume of 8,722,867 shares, compared to its average volume of 3,525,258. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.10 and a quick ratio of 0.10. Americold Realty Trust has a 12-month low of $10.10 and a 12-month high of $16.88. The company’s 50 day moving average is $14.38 and its 200 day moving average is $13.85. The stock has a market cap of $4.58 billion, a PE ratio of 19.32 and a beta of 0.93.

Americold Realty Trust Dividend Announcement

The firm 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. This represents a $0.92 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Americold Realty Trust’s dividend payout ratio is -57.86%.

Americold Realty Trust News Summary

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on COLD shares. Evercore reaffirmed an “outperform” rating and set a $19.00 target price on shares of Americold Realty Trust in a research report on Friday, August 7th. KeyCorp restated an “overweight” rating on shares of Americold Realty Trust in a research note on Monday, August 10th. Bank of America raised Americold Realty Trust from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $15.00 to $16.00 in a report on Tuesday, August 18th. DA Davidson set a $16.00 target price on shares of Americold Realty Trust in a report on Tuesday, August 18th. Finally, Weiss Ratings cut shares of Americold Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.46.

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.