Lineage, Inc. ( (LINE) ) has released its Q3 earnings. Here is a breakdown of the information Lineage, Inc. presented to its investors.
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Lineage, Inc., the world’s largest global temperature-controlled warehouse REIT, operates over 485 facilities across North America, Europe, and Asia-Pacific, providing supply chain solutions for food and beverage producers, retailers, and distributors.
Lineage, Inc. reported a 3.1% increase in total revenue for the third quarter of 2025, reaching $1,377 million. Despite a GAAP net loss of $112 million, the company achieved a 2.4% rise in adjusted EBITDA to $341 million, although the adjusted EBITDA margin slightly decreased. The company also declared a quarterly dividend of $0.5275 per share.
Key financial highlights include a 6.3% increase in AFFO to $221 million, although AFFO per share decreased by 5.6%. The company experienced seasonal improvements in occupancy and stable pricing trends. However, tariff uncertainties and lower US occupancy compared to international markets have led to a lowered NOI outlook for the fourth quarter.
Looking forward, Lineage anticipates full-year 2025 adjusted EBITDA to be between $1.290 to $1.305 billion, with AFFO per share ranging from $3.20 to $3.30. Despite the challenging market conditions, the company remains optimistic due to declining new supply deliveries and growing demand for frozen food, positioning itself for long-term success.