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Americold Realty (COLD)
NYSE:COLD
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Americold Realty (COLD) AI Stock Analysis

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COLD

Americold Realty

(NYSE:COLD)

Rating:48Neutral
Price Target:
$14.50
▲(3.79% Upside)
Americold Realty's overall stock score reflects significant financial and operational challenges, including declining revenues, profitability issues, and a bearish technical outlook. The high dividend yield and strategic focus on cost control and new business opportunities provide some support, but the negative P/E ratio and reduced earnings outlook weigh heavily on the score.
Positive Factors
Management
The appointment of Rob Chambers as CEO is expected to bring a more effective framework in managing investor expectations.
Pricing Power
COLD showed better ability to hold onto pricing power, +1.7% for SS rent/occupied pallet and +3.5% SS service rent per pallet.
Valuation
COLD is trading at 10.6x AFFO which screens cheap compared to LINE at 12.6x.
Negative Factors
Financial Guidance
The company has lowered AFFO guidance twice this year, with the midpoint down more than 8% since its initial guide was provided.
Operational Challenges
Same-store operations remained soft with no occupancy improvement, indicating ongoing operational challenges.
Sector Headwinds
Secular headwinds continue to pressure CS sector, including tariffs, elevated interest rates, excess capacity, GLP1 drugs and government benefit reductions.

Americold Realty (COLD) vs. SPDR S&P 500 ETF (SPY)

Americold Realty Business Overview & Revenue Model

Company DescriptionAmericold is the world's largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 185 temperature-controlled warehouses, with over 1 billion refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina. Americold's facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.
How the Company Makes MoneyAmericold generates revenue primarily through its leasing and storage services. The company earns money by renting out its temperature-controlled warehouse space to food manufacturers, retailers, and logistics companies, charging fees based on the amount of space utilized and the duration of storage. In addition to warehouse leasing, Americold also provides value-added services, such as order fulfillment and inventory management, which contribute additional revenue. Significant partnerships with major food distributors and retailers enhance its market presence and stability. The company's revenue is further bolstered by its strategic acquisitions of other cold storage facilities, expanding its geographic footprint and operational capacity.

Americold Realty Earnings Call Summary

Earnings Call Date:Aug 07, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Neutral
Americold Realty Trust's second quarter performance reflects a mixed environment where strategic achievements and operational improvements are countered by significant external challenges. Despite improvements in service margins and successful project completions, the company faces ongoing demand headwinds, pricing pressure, and a lack of seasonal inventory build, leading to a reduced outlook for the year.
Q2-2025 Updates
Positive Updates
Recognition as Top 3PL and Cold Storage Provider
Americold was recognized as a top 3PL and cold storage provider by Food Logistics Magazine, highlighting its innovative and high-quality solutions in the global cold storage food supply chain.
Improved Same-Store Warehouse Services Margins
Same-store warehouse services margins improved by 90 basis points year-over-year to 13.3% for the quarter, showcasing the company's ability to enhance productivity and service margins.
Successful Development Projects
Completion of key projects such as the Kansas City facility, Allentown expansion, and Dubai development, all under budget, demonstrate Americold's ability to leverage scale and partnerships for innovative market solutions.
Strong Performance in Retail and QSR Segments
Two significant wins in Europe highlight Americold's growing leadership in the retail segment, with new agreements in Portugal and the Netherlands operating at over 90% occupancy.
Negative Updates
Decline in Same-Store Economic Occupancy
Same-store economic occupancy declined slightly in the second quarter versus the first quarter, with ongoing demand headwinds contributing to slow occupancy gains.
Challenging Pricing Environment
Americold faces significant pricing pressure, with some irrational pricing moves by competitors, impacting the ability to maintain pricing architecture in the U.S. market.
Reduced AFFO Guidance
The AFFO guidance was reduced to $1.39 to $1.45 per share due to continued market headwinds, including interest rates, tariffs, inflation, and excess capacity.
Lack of Seasonal Inventory Build
The expected seasonal inventory build did not materialize, leading to a more conservative market view for the second half of the year and continued pressure on occupancy levels.
Company Guidance
During Americold Realty Trust's second quarter 2025 earnings call, the company provided several financial metrics and guidance for the rest of the year. Same-store economic occupancy declined slightly in the second quarter compared to the first quarter, and the company anticipates same-store economic occupancy levels for the year to decrease by approximately 250 to 450 basis points. Despite this, the company's rent and storage revenue from fixed commitments remained at 60%, and same-store rent and storage revenue per economic occupied pallet increased by 1%, while same-store services revenue per throughput pallet grew by 4%. The perm-to-temp hours ratio was maintained at 75-25, aiding in labor flexibility. The company's AFFO per share was reported at $0.36 for the quarter, leading to an updated AFFO guidance range of $1.39 to $1.45 per share for the full year. Americold is focusing on controlling costs, improving efficiencies, and capturing new business, while also pursuing opportunities in retail and QSR segments and investing in underserved geographies. They reported successful completion of several development projects under budget, including facilities in Allentown, Kansas City, and Dubai. However, the company noted that interest rates, tariffs, inflation, government benefit reductions, and excess capacity continue to pressure occupancy rates, leading them to adopt a more conservative view for the second half of 2025.

Americold Realty Financial Statement Overview

Summary
Americold Realty faces challenges with declining revenues and profitability, as evidenced by negative net income and shrinking margins. The balance sheet shows manageable leverage, but the company must focus on reversing revenue declines and improving operational efficiency. Strong free cash flow growth is a positive sign, but enhancing cash flow efficiency and profitability remains critical for long-term success.
Income Statement
45
Neutral
Americold Realty's income statement reveals a challenging environment with declining revenues and negative net profit margins over recent periods. The TTM data shows a significant revenue decline of 38.8% and a net profit margin of -2.1%, indicating profitability issues. Despite a relatively stable gross profit margin, the EBIT and EBITDA margins are low, reflecting operational inefficiencies. The company needs to address its revenue decline and improve cost management to enhance profitability.
Balance Sheet
55
Neutral
The balance sheet shows a moderate debt-to-equity ratio of 1.35 in the TTM period, indicating a balanced leverage position. However, the return on equity is negative, reflecting ongoing profitability challenges. The equity ratio remains stable, suggesting a solid asset base. While the company maintains a reasonable leverage level, improving profitability is crucial to enhance overall financial health.
Cash Flow
60
Neutral
Americold Realty's cash flow statement highlights a strong free cash flow growth of 1223% in the TTM period, indicating improved cash generation. However, the operating cash flow to net income ratio is low, suggesting limited cash flow efficiency relative to earnings. The free cash flow to net income ratio is positive, reflecting better cash conversion. Continued focus on cash flow management will be essential to support financial stability.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue2.62B2.67B2.67B2.91B2.71B1.99B
Gross Profit837.91M846.73M770.57M695.96M629.78M551.50M
EBITDA451.63M392.96M165.76M417.64M388.42M325.15M
Net Income-54.78M-94.31M-336.21M-19.44M-30.45M24.54M
Balance Sheet
Total Assets8.09B7.74B7.87B8.10B8.22B7.83B
Cash, Cash Equivalents and Short-Term Investments101.38M47.65M60.39M53.06M82.96M621.05M
Total Debt4.21B3.68B3.49B3.58B3.42B3.23B
Total Liabilities4.94B4.43B4.23B4.32B4.19B4.04B
Stockholders Equity3.11B3.28B3.62B3.77B4.02B3.79B
Cash Flow
Free Cash Flow50.83M102.42M366.15M-22.95M-218.77M-108.67M
Operating Cash Flow363.74M411.88M366.15M300.00M273.06M293.68M
Investing Cash Flow-572.84M-313.18M-357.07M-348.49M-1.24B-2.25B
Financing Cash Flow267.73M-106.78M-285.00K23.32M431.49M2.33B

Americold Realty Technical Analysis

Technical Analysis Sentiment
Negative
Last Price13.97
Price Trends
50DMA
15.65
Negative
100DMA
16.68
Negative
200DMA
18.94
Negative
Market Momentum
MACD
-0.46
Positive
RSI
37.53
Neutral
STOCH
8.91
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COLD, the sentiment is Negative. The current price of 13.97 is below the 20-day moving average (MA) of 14.56, below the 50-day MA of 15.65, and below the 200-day MA of 18.94, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 37.53 is Neutral, neither overbought nor oversold. The STOCH value of 8.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COLD.

Americold Realty Risk Analysis

Americold Realty disclosed 55 risk factors in its most recent earnings report. Americold Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Americold Realty Peers Comparison

Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$31.88B31.126.97%4.40%4.83%18.94%
77
Outperform
$107.04B30.686.50%3.47%10.20%23.28%
76
Outperform
$51.27B31.8818.98%4.03%2.49%-14.10%
73
Outperform
$9.39B24.9813.43%4.96%3.14%-8.01%
53
Neutral
$9.26B-8.75%4.83%
53
Neutral
$1.22B3.15-6.08%5.81%-8.21%-81.31%
48
Neutral
$3.97B-1.67%6.44%-1.98%80.67%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
COLD
Americold Realty
13.97
-14.21
-50.43%
CUBE
Cubesmart
41.74
-7.87
-15.86%
EXR
Extra Space Storage
147.28
-20.34
-12.13%
PLD
Prologis
113.65
-12.19
-9.69%
PSA
Public Storage
297.80
-40.67
-12.02%
LINE
Lineage, Inc.
40.59
-39.38
-49.24%

Americold Realty Corporate Events

Executive/Board ChangesBusiness Operations and Strategy
Americold Realty Appoints New CEO Robert S. Chambers
Neutral
Aug 25, 2025

On August 25, 2025, Americold Realty Trust announced the appointment of Robert S. Chambers as the new Chief Executive Officer, effective September 1, 2025, succeeding George F. Chappelle, Jr., who is retiring. This leadership transition underscores the board’s commitment to long-term succession planning and is expected to continue Americold’s strategic priorities and operational excellence. The company reaffirmed its full-year 2025 financial outlook and plans to participate in several investment conferences to engage with stakeholders.

Business Operations and StrategyFinancial Disclosures
Americold Realty Reports Q2 2025 Financial Results
Neutral
Aug 7, 2025

On August 7, 2025, Americold Realty Trust announced its financial and operating results for the second quarter of 2025, reporting total revenues of $650.7 million, a 1.5% decrease from the previous year. Despite facing industry-wide challenges that affected occupancy levels, the company launched three significant development projects in Kansas City, Allentown, and Dubai, which are expected to contribute positively in the future. The company adjusted its AFFO/share guidance due to ongoing demand challenges but remains focused on cost control and efficiency improvements to capitalize on future growth opportunities.

Executive/Board ChangesBusiness Operations and Strategy
Americold Realty Announces Key Executive Appointments
Positive
Jun 2, 2025

On June 2, 2025, Americold Realty Trust announced key executive appointments to enhance operational execution and global growth. Robert S. Chambers was appointed to the newly created role of President, overseeing global operations, while M. Bryan Verbarendse succeeded Chambers as President, Americas. These leadership changes are part of Americold’s strategy to deepen customer relationships and unlock growth opportunities. The company also reaffirmed its 2025 full-year financial guidance, emphasizing its commitment to operational excellence and customer-centric growth.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 22, 2025