AMERICOLD REALTY TRUST

Listed Company

COLDCIK 0001455863NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$2.60B

Net Income

$-114.55M

Total Assets

$8.12B

Equity

$2.88B

Shares Out

284.88M

Op. Cash Flow

$359.64M

Business

AMERICOLD REALTY TRUST is a global provider of temperature‑controlled logistics, real estate and value‑added services focused on owning, operating, acquiring and developing temperature‑controlled warehouses. It offers temperature‑controlled storage, handling services (including case‑picking, blast freezing and e‑commerce fulfillment), transportation brokerage/management and third‑party warehouse management. The company reports results through three primary segments: warehouse, transportation and third‑party managed, and operates through owned properties and joint ventures. Americold operates an integrated cold‑chain network across North America, Europe, Asia‑Pacific and South America serving producers, distributors, retailers and e‑tailers.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	2,602	2,667	2,673	2,915	2,715
Cost of operations	1,762	1,820	1,903	2,219	—
Depreciation and amortization	367	361	354	331	320
Selling, general, and administrative	269	255	227	231	182
Acquisition, cyber incident, and other, net	104	77	64	—	—
Impairment of indefinite and long-lived assets	47	33	237	7	3
Net loss (gain) from sale of real estate	44	−4	−2	6	0
Total operating expenses	2,595	2,543	2,782	2,827	2,642
Operating income (loss)	7	124	−108	88	73
Interest expense	−148	−135	−140	−116	—
Loss on debt extinguishment and termination of derivative instruments	0	−116	−2	−3	−6
Loss from investments in partially owned entities	−2	−4	−1	−918,000	−723,000
Other, net	7	28	3	2	2
Loss on put option	0	0	−57	0	0
Loss from continuing operations before income taxes	−136	−103	−328	−30	−31
Current income tax	−6	−5	−9	−4	−8
Deferred income tax	27	13	11	23	9
Total income tax benefit	20	8	2	19	2
Net loss from continuing operations	−115	−95	−326	−11	−29
Loss from discontinued operations, net of tax	0	0	−10	−8	−1
Net loss	−115	−95	−336	−19	−30
Net loss attributable to noncontrolling interests	−734,000	−436,000	−54,000	−34,000	146,000
Net loss attributable to Americold Realty Trust, Inc.	−115	−94	−336	−19	−30
Weighted average common stock outstanding basic (in shares)	286	285	276	270	259
Weighted average common stock outstanding diluted (in shares)	286	285	276	270	259
Net loss per common share from continuing operations - basic (in USD per share)	−0.4	−0.33	−1.18	−0.04	−0.11
Net loss per common share from discontinued operations - basic (in USD per share)	0	0	−0.04	−0.03	0
Basic loss per share (in USD per share)	−0.4	−0.33	−1.22	−0.07	−0.12
Net loss per common share from continuing operations - diluted (in USD per share)	−0.4	−0.33	−1.18	−0.04	−0.11
Net loss per common share from discontinued operations - diluted (in USD per share)	0	0	−0.04	−0.03	0
Diluted loss per share (in USD per share)	−0.4	−0.33	−1.22	−0.07	−0.12

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Property, plant and equipment, gross	7,986	7,474	7,303	6,967	6,763
Accumulated depreciation	−2,641	−2,454	−2,196	−1,901	−1,635
Property, buildings, and equipment net	5,345	5,021	5,107	5,066	5,128
Operating leases - net	180	222	247	276	320
Financing leases - net	158	104	105	83	102
Cash, cash equivalents, and restricted cash	137	48	60	53	—
Accounts receivable - net of allowance of $16,396 and $24,426 at December 31, 2025 and 2024, respectively	369	387	426	430	380
Identifiable intangible assets net	819	839	897	925	981
Goodwill	828	784	794	1,034	1,073
Investments in and advances to partially owned entities	39	40	38	79	37
Other assets	246	291	194	159	112
Total assets	8,122	7,736	7,869	8,105	8,216
Borrowings under revolving line of credit	332	255	392	500	399
Accounts payable and accrued expenses	574	603	569	558	559
Senior unsecured notes and term loans - net of deferred financing costs of $16,001 and $13,882 at December 31, 2025 and 2024, respectively	3,792	3,031	2,601	2,569	2,444
Sale-leaseback financing obligations	42	79	162	171	179
Financing lease obligations	152	96	97	78	98
Operating lease obligations	180	219	240	265	302
Unearned revenues	20	22	28	32	26
Deferred tax liability - net	99	116	136	135	169
Other liabilities	8	7	9	—	—
Total liabilities	5,200	4,429	4,235	4,317	4,187
Commitments and contingencies (Note 17 - Commitments and Contingencies)	—	—	—	—	—
Common stock, $0.01 par value per share 500,000,000 authorized shares; 284,871,943 and 284,265,041 shares issued and outstanding at December 31, 2025 and 2024, respectively	3	3	3	3	3
Paid-in capital	5,664	5,647	5,626	5,192	5,172
Accumulated deficit and distributions in excess of net earnings	−2,719	−2,342	−1,996	−1,415	−1,158
Accumulated other comprehensive loss	−63	−27	−17	−6	5
Total stockholders equity	2,884	3,281	3,616	3,773	4,021
Noncontrolling interests	38	26	18	14	8
Total equity	2,922	3,307	3,635	3,788	4,029
Total liabilities and equity	8,122	7,736	7,869	8,105	8,216

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of deferred financing costs and pension withdrawal liability	6	5	5	5	4
Project Orion and other software related deferred costs amortization	17	4	0	—	—
Loss on debt extinguishment and termination of derivative instruments	0	116	2	—	—
Gain from sale of partially owned entity	−2	0	0	—	—
Loss from investments in partially owned entities	2	4	6	9	—
Stock-based compensation expense	30	28	24	27	24
Provision for doubtful accounts receivable	5	8	6	7	6
Impairment of indefinite and long-lived assets	47	33	237	—	—
Impairment of related party loan receivable	0	0	22	0	—
Loss on classification of Comfrio as held for sale	0	0	5	0	0
Non-cash operating lease expenses	38	43	43	52	59
Net loss (gain) from sale of real estate	44	−4	−2	—	—
Accounts receivable	21	23	−3	−69	−60
Accounts payable and accrued expenses	−17	17	24	13	−8
Other assets	−22	−67	−50	−25	−12
Operating lease liabilities	−37	−40	−38	−34	−36
Proceeds from settlement of treasury lock hedge transactions	1	0	0	—	—
Other, net	1	−11	22	13	4
Net cash provided by operating activities	360	412	366	300	273
Additions to property, buildings and equipment	−577	−309	−264	−308	−438
Business combinations, net of cash acquired	−108	0	−47	−16	−741
Acquisitions of property, buildings, equipment, and other assets, net of cash acquired	0	0	−66	−15	−54
Investments in and advances to partially owned entities and other, net	−25	−13	−21	−14	−8
Net payments for sale of business (discontinued operations)	0	0	−5	0	0
Proceeds from sale of property, buildings, and equipment	26	9	8	5	959,000
Proceeds from sale of investments in partially owned entities	27	0	37	—	—
Payment for foreign currency exchange forwards settlement	−1	0	0	—	—
Net cash used in investing activities	−658	−313	−357	−348	−1,239
Distributions paid on common stock, restricted stock units and noncontrolling interests in OP	−261	−252	−242	−239	−228
Proceeds from stock options exercised	3	3	3	4	6
Proceeds from employee stock purchase plan	2	3	3	4	2
Remittance of withholding taxes related to employee stock-based transactions	−3	−4	−3	−8	−17
Proceeds from revolving line of credit	627	827	716	529	811
Repayment on revolving line of credit	−572	−942	−833	−414	−405
Repayment of sale-leaseback financing obligations	−4	−7	−18	−8	−7
Termination of sale-leaseback financing obligations	−15	−191	0	—	—
Repayment of financing lease obligations	−38	−38	−39	−34	−32
Payment of debt issuance costs	−5	−6	0	−12	−4
Proceeds from public senior unsecured notes offering	400	500	0	0	—
Proceeds from senior unsecured term loans	250	0	0	470	50
Net proceeds from issuance of common stock	0	0	413	0	474
Net cash provided by (used in) financing activities	383	−107	−285,000	23	431
Net increase (decrease) in cash, cash equivalents and restricted cash	85	−8	9	−25	−535
Effect of foreign currency translation on cash, cash equivalents and restricted cash	4	−5	−1	−5	−3
Addition of property, buildings and equipment on accrual	41	33	34	49	53
Operating leases	25	11	6	8	51
Finance leases	95	39	59	19	25
Interest paid net of amounts capitalized	138	122	135	118	88
Income taxes paid net of refunds	6	7	6	8	11

Filings

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