Americold Realty Trust (COLD)
NYSE:COLD
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
>-0.01Last Year’s EPS
0.01Same Quarter Last Year
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call presents a constructive and strategic tone. Management reported an AFFO beat, executed significant cost savings, stabilized physical occupancy, secured a large JV with EQT that should materially improve the balance sheet, and continued to win and expand customer relationships and international projects. Offsetting these positives are near-term headwinds: Q1 warehouse NOI declined ~4.5%, storage pricing pressure persists, leverage remains elevated at 7.1x (albeit improving pro forma), and the JV will create a modest AFFO headwind depending on closing timing. On balance, the strategic actions (JV, cost cuts, portfolio optimization and commercial wins) and the operational stabilization outweigh the short-term earnings and market challenges.Company Guidance
AFFO Beat and Consistent Execution
Delivered AFFO per share of $0.29 in Q1, beating analyst consensus; the company has now delivered three straight quarters that met or exceeded AFFO per share consensus and management maintained full-year AFFO guidance (previously in the ~$120M–$130M range) while executing strategic initiatives.
Occupancy Stabilization and International Gains
Same-store physical occupancy was flat year-over-year in Q1, indicating inventory stabilization; Europe's physical occupancy increased by over 800 basis points the quarter and throughput in both Europe and Asia Pacific rose versus prior year.
Strategic JV with EQT to Strengthen Balance Sheet
Announced a joint venture with EQT where Americold contributed a seed pool of 12 U.S. properties (>$1.3B) and EQT holds 70%; Americold expects approximately $1.1B in proceeds, management fees of ~$15M–$20M/year and 30% of JV NOI; JV valuation metrics include an implied blended cap rate of ~7% and ~$3,300 per pallet position.
Material Deleveraging Progress (Pro Forma)
Net debt to pro forma core EBITDA was 7.1x at quarter end; the JV transaction is expected to reduce leverage by ~0.75x on a pro forma basis, materially advancing toward the company's target of 6x or less.
Cost Reduction and Efficiency Achievements
Completed $30M of identified savings in indirect labor and SG&A in Q1 as planned, reduced indirect headcount by over 400 positions, and reported core SG&A relatively flat year-over-year (excluding Q1 accrual fluctuations); phase‑2 cost actions are underway to identify further savings.
Strong Commercial Metrics and Contract Activity
Renewed 34% of the year's fixed committed contracts that were month-to-month or expiring in 2026 (representing ≈$100M of revenue), maintained 59% of rent and storage revenue from fixed committed contracts, held a low customer churn rate of 2.5%, and increased annualized leasing revenue by over $4M (~+7%).
New Business Wins and Diversification
Expanded relationships internationally (On the Run national rollout in Australia; 10-year KFC Australia renewal), grew nonfood categories (pet food, floral) and initiated pharmaceutical storage commitments; e-commerce business is growing at a double-digit rate, shipped over 1M packages last year, and expanded to 5 U.S. sites covering 99.5% of the population within two-day delivery.
On-time, On-budget Development Execution
Delivered expansions in Sydney and Christchurch on time and on budget; secured a customer-backed development opportunity with McCain Foods (≈56,000 pallet positions, 20-year fixed commitment) that may be a JV candidate; purchased a leased facility and placed it on a 15-year triple-net lease yielding an ~10% ROI.
COLD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
COLD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $12.70 | $14.97 | +17.87% |
Feb 19, 2026 | $11.76 | $13.61 | +15.75% |
Nov 06, 2025 | $12.30 | $11.42 | -7.13% |
Aug 07, 2025 | $15.31 | $13.88 | -9.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Americold Realty Trust (COLD) report earnings?
Americold Realty Trust (COLD) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Americold Realty Trust (COLD) earnings time?
Americold Realty Trust (COLD) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is COLD EPS forecast?
COLD EPS forecast for the fiscal quarter 2026 (Q2) is >-0.01.