Americold Realty Trust, Inc. (NYSE: COLD) has announced its financial and operating results for the fourth quarter and full year ended December 31, 2025. The company reported a 3% increase in fourth-quarter Adjusted Funds from Operations (AFFO) per share to $0.38, as compared to the same period in 2024. The full-year 2025 saw a 2.7% decrease in adjusted FFO per diluted share from 2024, amounting to $1.43.
In the fourth quarter of 2025, total revenues decreased by 1.2% to $658.5 million, and the net loss was $88.3 million, compared to a net loss of $36.2 million in the same period in 2024. The global warehouse segment same store revenues decreased by 1.1% and the same store NOI decreased by 0.6%.
For the full year 2025, total revenues decreased by 2.4% to $2.6 billion, and the net loss was $114.5 million, compared to a net loss of $0.33 per diluted share in 2024. The global warehouse segment same store revenues decreased by 1.4% and the same store NOI decreased by 2.7%.
Looking ahead, the company has provided an outlook for 2026, expecting AFFO of $1.20 to $1.30 per share, as it continues to focus on strengthening its balance sheet and enhancing the profitability of its global real estate portfolio.
The company's total liquidity as of December 31, 2025, was approximately $935.4 million, including cash and available capacity on its revolving credit facility. The total net debt outstanding was approximately $4.2 billion, and the net debt to pro forma core EBITDA was approximately 6.8x.
In terms of dividends, the company's board of directors declared a 5% increase to $0.23 per share for the fourth quarter of 2025.
Americold remains a global leader in temperature-controlled logistics, with 231 operating facilities across North America, Europe, Asia-Pacific, and South America, totaling approximately 1.4 billion refrigerated cubic feet.
The company also provided a list of key priorities for 2026, which include strengthening the balance sheet, enhancing the profitability of the global real estate portfolio, and focusing capital on customer-driven development opportunities. It aims to expand its presence in high-value retail and store-support solutions while broadening its commercial aperture to pursue opportunities in new and adjacent sectors.
The full press release also includes detailed financial metrics and reconciliations of non-GAAP measures to their most comparable US GAAP metrics.
For more detailed information, the company will hold a webcast and conference call on Thursday, February 19, 2026, to discuss its fourth-quarter and full-year 2025 results. As a result of these announcements, the company's shares have moved 1.04% on the market, and are now trading at a price of $13.56. For more information, read the company's full 8-K submission here.
