Revenue: As of FY2026 Q2, the actual value is USD 662.89 M.

EPS: As of FY2026 Q2, the actual value is USD -1.19, missing the estimate of USD 0.0129.

EBIT: As of FY2026 Q2, the actual value is USD -281.43 M.

Financial Highlights (Q2 2026 vs Q2 2025)

Total Company Performance

• Net loss was - $342.8 million, or - $1.19 loss per diluted share, in Q2 2026, compared to a net income of $1.5 million, or $0.01 per diluted share, in Q2 2025. This decline was primarily due to a - $309.6 million impairment charge.
• Total Company Net Operating Income (NOI) was $212.7 million for Q2 2026, representing a 0.5% increase (or -0.3% decrease on a constant currency basis) from the prior year.
• Core EBITDA remained flat at $159.1 million in both Q2 2026 and Q2 2025, with a -0.6% decrease on a constant currency basis.
• The Core EBITDA margin was 24.0% in Q2 2026, a decrease from 24.4% in Q2 2025.
• Core FFO for Q2 2026 was $50.4 million, or $0.18 per diluted share, down from $75.8 million, or $0.27 per diluted share, in Q2 2025.
• Adjusted FFO was $102.0 million, or $0.35 per diluted share, a -2.8% decrease from $103.6 million, or $0.36 per diluted share, in Q2 2025.
• Interest expense for Q2 2026 was - $42.3 million, compared to - $38.2 million in Q2 2025.
• Selling, general, and administrative expenses decreased to - $62.9 million in Q2 2026 from - $66.9 million in Q2 2025.
• Depreciation and amortization increased to - $102.9 million in Q2 2026 from - $90.5 million in Q2 2025.

Global Warehouse Segment Performance

• Global Warehouse segment revenues were $603.6 million for Q2 2026, a 0.2% actual increase (or -0.9% decrease on a constant currency basis) from Q2 2025.
• Global Warehouse segment contribution (NOI) was $201.7 million in Q2 2026, a -0.6% actual decrease (or -1.3% decrease on a constant currency basis) from $202.9 million in Q2 2025.
• The Global Warehouse margin was 33.4% for Q2 2026, a 30 basis point decrease from 33.7% in Q2 2025.
• Global Warehouse same store services margin decreased to 14.8% in Q2 2026 from 15.2% in Q2 2025.
• Global Warehouse segment same store NOI decreased by -1.5% (or -2.2% on a constant currency basis) compared to Q2 2025.
• Rent and storage revenues for the total warehouse segment decreased by -1.2% (actual) to $253,665 thousand in Q2 2026 from $256,732 thousand in Q2 2025.
• Warehouse services revenues increased by 1.2% (actual) to $349,908 thousand in Q2 2026 from $345,919 thousand in Q2 2025.
• Rent and storage contribution (NOI) decreased by -2.6% to $155,172 thousand, while services contribution (NOI) increased by 7.0% to $46,563 thousand.

Operational Metrics (Q2 2026 vs Q2 2025)

• Average physical occupied pallets in the Global Warehouse segment increased by 0.9% to 3,484 thousand.
• Physical occupancy percentage for the Global Warehouse segment rose by 460 basis points to 67.4%.
• Throughput pallets in the Global Warehouse segment decreased by -1.0% to 8,926 thousand.
• Same store physical occupancy percentage increased by 290 basis points to 69.1%.

Balance Sheet and Liquidity (as of June 30, 2026)

• Total liquidity was approximately $719.8 million.
• Total net debt outstanding was approximately $4.4 billion.
• Net debt to pro-forma Core EBITDA (based on trailing twelve months) was approximately 7.3x.
• As of June 30, 2026, 64.8% of Americold Realty Trust, Inc.’s total debt was at a fixed rate.
• Cash, cash equivalents, and restricted cash decreased to $40.5 million from $136.9 million at December 31, 2025.
• Unsecured debt constituted 95.2% of the total debt.
• The unsecured debt had a remaining weighted average term of 4.4 years, with a weighted average contractual interest rate of 4.1%.
• Available undrawn credit facility was $679 million.
• Weighted average contractual interest rate for total debt was 4.22%.

Cash Flow (Six Months Ended June 30, 2026 vs 2025)

• Net cash provided by operating activities was $140.0 million, down from $150.5 million in the prior year period.
• Net cash used in investing activities was - $215.7 million, an improvement from - $368.8 million in the prior year period.
• Net cash used in financing activities was - $20.9 million, a decrease from $267.3 million provided by financing activities in the prior year period.

Capital Expenditures (Six Months Ended June 30, 2026 vs 2025)

• Maintenance capital expenditures were $28,322 thousand in 2026, down from $32,082 thousand in 2025.
• External Growth capital expenditures were $0 thousand in 2026, down from $108,448 thousand in 2025.
• Expansion, Development, and Integration capital expenditures were $110,858 thousand in 2026, down from $199,355 thousand in 2025.
• Organic Growth capital expenditures were $113,636 thousand in 2026, up from $72,171 thousand in 2025.
• Technological Upgrades and Enhancements capital expenditures were $21,288 thousand in 2026, up from $9,778 thousand in 2025.
• Total Capital Expenditures were $274,104 thousand in 2026, down from $421,834 thousand in 2025.

Dividend

• A dividend of $0.23 per share was declared for Q2 2026, paid on July 15, 2026.

Other Key Operational Metrics

• Americold Realty Trust, Inc.’s global footprint as of June 30, 2026, included ~1.4 billion cubic feet across 224 warehouses, with ~5.2 million pallet positions, ~2,900 customers, and 12,000 associates.
• The company held an 18% market share in North America and a 6% market share globally as of June 30, 2026.
• Cost savings initiatives total ~ $100 million, including ~ $30 million completed in Q1 2026, an additional ~ $25 million by Q1 2027 from the Fit for Purpose initiative, and ~ $50 million from spend reductions.
• A joint venture with EQT, expected to close in Q3 2026, has a total value of ~ $1.3 billion, with Americold Realty Trust, Inc. retaining 30% ownership and receiving ~ $1.1 billion in proceeds, contributing ~124 million cubic feet and ~402 thousand pallet positions.
• The joint venture is anticipated to result in ~ $46 million in interest savings for Americold Realty Trust, Inc.
• A portfolio management initiative identified 25 sites for strategic exits, with 10 completed generating over $50 million in proceeds from property sales, and 15 sites currently idled and marketed for sale.
• The McCain Foods Development in Plover, Wisconsin, represents a total investment of $163 million for ~17 million cubic feet and ~56,000 pallet positions, expected to be completed in Q1 2028 and anchored by a 20-year fixed commitment agreement.

Outlook

Americold Realty Trust, Inc. increased its full-year Adjusted FFO guidance to a range of $1.26 to $1.32 per share. The company projects Warehouse segment same store revenues (constant currency) to be between $2.03 billion and $2.09 billion, and Core EBITDA is expected to range from $570 million to $600 million. Total Company NOI (constant currency) is projected to be $775 million to $815 million, and Warehouse segment same store NOI (constant currency) is anticipated to range from $660 million to $695 million.