Americold Realty Trust reports Q1 AFFO 29c, consensus 27c

Reports Q1 revenue $629.9M, consensus $602.15M. “Americold delivered another solid quarter, with results that came in ahead of expectations,” said Rob Chambers, CEO. “Our teams remain tightly focused on pricing discipline, cost control, and delivering excellent service to customers. I was particularly encouraged that physical occupancy levels have largely stabilized, reinforcing our view that we should return to more normal seasonal trends as we progress throughout the year. Most importantly, we made meaningful progress this quarter executing on the five key priorities we outlined coming into the year. The joint venture we announced this morning with EQT, a world-class real estate investor, shows meaningful progress towards our goal to strengthen the balance sheet, and highlights the quality and attractiveness of our mission-critical assets and operating platform…With disciplined capital allocation, a sharp focus on execution, and an unwavering commitment to customer service, I believe Americold is well positioned to enhance long-term earnings growth and create lasting value for our shareholders.”