Lineage cuts FY25 AFFO view to $3.20-$3.40 from $3.40-$3.60, consensus $3.40

Cuts FY25 adjusted EBITDA view to $1.29B-$1.34B from $1.35B-$1.4B. “We saw muted seasonal inventory levels late in the second quarter and early into the third and are therefore lowering our outlook for the year. While we expect continued sequential improvement in both same warehouse and total NOI in the second half, we are taking a more measured view of the balance of the year. Our focus remains on revenue growth, optimizing labor productivity, and controlling the controllables, setting the stage for strong operating leverage when our industry rebounds,” concluded Lehmkuhl.