Q2 25 EPS
$0.01
MISS 90.91%
Est. $0.11
Q2 25 Revenue
$650.7M
BEAT +1.09%
Est. $643.7M
vs S&P Since Q2 25
-9.7%
TRAILING MARKET
COLD +6.5% vs S&P +16.1%
Market Reaction
Did COLD Beat Earnings? Q2 2025 Results
Americold Realty Trust delivered a sharply mixed second quarter, posting earnings of just $0.01 per diluted share against a consensus estimate of $0.11, a miss of roughly 91%, even as revenue of $650.75 million edged past expectations by 1.09%. The t… Read more Americold Realty Trust delivered a sharply mixed second quarter, posting earnings of just $0.01 per diluted share against a consensus estimate of $0.11, a miss of roughly 91%, even as revenue of $650.75 million edged past expectations by 1.09%. The top line nonetheless slipped 1.5% year-over-year, weighed down by declining warehouse volumes and reduced transportation services revenue, with economic occupancy in the total warehouse segment falling 430 basis points to 73.8% as consumer conservatism, shifting buying habits, and the fading of counter-cyclical inventory builds pressured demand across the cold storage industry. On the cost side, SG&A climbed to $66.91 million from $59.45 million, partly reflecting the North American and Asia Pacific rollout of Project Orion, the company's new ERP system, while acquisition and other costs surged to $23.23 million. Looking ahead, management trimmed full-year 2025 AFFO per share guidance to $1.39 to $1.45 from $1.42 to $1.52, citing expectations that occupancy and throughput will remain below typical seasonal patterns through the second half.
Key Takeaways
- • Lower warehouse volumes and throughput due to competitive environment and lapping of counter-cyclical inventory builds
- • Changes in consumer buying habits and related food production level declines
- • Annual rent and storage rate increases partially offsetting volume declines
- • Improved same store warehouse services margin to 13.3% from 12.4% year-over-year
- • Increased SG&A costs from Project Orion go-live in North America and Asia Pacific
- • Net gain from sale of real estate of $11.76 million
- • Absence of $110.7 million loss on debt extinguishment recorded in Q2 2024
COLD YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
COLD Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our team continues to execute well in the current market, despite the impacts from multiple headwinds that are constraining occupancy levels across the industry. During the second quarter we made strong progress on our four key operational priorities and won new business, while continuing to manage the business tightly. As a result, the first half of the year has largely been in-line with expectations, demonstrating the resilience and breadth of our various operating levers.”
— George Chappelle, Q2 2025 Earnings Press Release
COLD Earnings Trends
COLD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
COLD EPS Trend
Earnings per share: estimate vs actual
COLD Revenue Trend
Quarterly revenue: estimate vs actual
COLD Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.04 | $-0.05 | -225.00% | $629.9M | +4.60% |
| Q4 25 BEAT FY | $0.09 | $0.38 | +322.22% | $658.5M | +0.60% |
| FY Full Year | $-0.04 | $1.43 | +3,480.61% | $2.60B | -0.41% |
| Q3 25 BEAT | $0.10 | $0.35 | +250.00% | $663.7M | +0.16% |
| Q2 25 MISS | $0.11 | $0.01 | -90.91% | $650.7M | +1.09% |
| Q1 25 MISS | $0.08 | $-0.06 | -180.00% | $629.0M | -5.62% |