Americold

Americold ups 2023 outlook following cyberattack

Warehouse operator Americold Realty Trust raised its full-year outlook even as it contends with a recent cyberattack. The company said customers have increased food production and need more cold storage space, which is driving financial results higher.

Americold (NYSE: COLD) reported first-quarter adjusted funds from operations (AFFO) of 29 cents per share, which was 3 cents higher year over year (y/y). Core FFO beat analysts’ expectations by a penny. The company booked a net loss of 1 cent per...

Running on Ice: Cold chain goes international 

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Hello, and welcome to the coolest community in freight! Here you’ll find the latest information on...

https://www.freightwaves.com/news/running-on-ice-cold-chain-goes-international

DP World, Americold partner on global food supply chain

A new partnership between the global logistics company DP World and American temperature-controlled warehousing and transportation firm Americold aims to support the largest food companies in the world with a new standard in global distribution, “from farm to fork”.

The two parties signed a partnership agreement on 18 November, that will enable multi-million US dollar investment in a more resilient, efficient, and sustainable global food supply chain.

“Our partnership with Americold has the...

https://container-news.com/dp-world-americold-partner-on-global-food-supply-chain/

New Americold CEO faces tough questions on recent performance

Nothing held back on Q4 Q&A

Labor headwinds and COVID-related work outages have crimped food production across the globe, a trend that has spilled into the new year. The declines are weighing on the financial results of cold storage facility operator Americold Realty Trust.

Americold (NYSE: COLD) reported fourth-quarter 2021 adjusted funds from operations (AFFO) of 31 cents per share, 16% lower year-over-year. Core FFO beat analysts’ expectations by a penny. The company booked a net loss of 3 cents per share in the period.

G...

https://www.freightwaves.com/news/new-americold-ceo-faces-tough-questions-on-recent-performance

Cold Chain Summit: Why hackers see cold storage as ‘prime target’

A still image of Kurt George of Property Damage Appraisers discussing how ransomware attacks can impact cold storage facilities.

This fireside chat recap is from FreightWaves’ Cold Chain Summit.

FIRESIDE CHAT TOPIC: When cyberattacks hit cold storage facilities 

DETAILS: Hackers have left few industries unscathed as ransomware attacks hit companies across the world. Cold storage giant Americold saw its operations disrupted in November after such an attack. Americold isn’t alone. Cold storage providers represent an attractive target for hackers because of the high cost of a systems outage, particularly if it affects the...

https://www.freightwaves.com/news/cold-chain-summit-why-hackers-see-cold-storage-as-prime-target

Lack of labor hurting food production, cold storage throughput: Americold

Food producers struggle to find workers

Cold storage facility operator Americold Realty Trust reeled in expectations due to food production disruptions brought on by labor constraints and a continuation of COVID protocols.

Americold (NYSE: COLD) lowered its full-year 2021 expectations. Adjusted funds from operations (FFO) are now expected to be in a range of $1.34 to $1.40 per share compared to the prior guidance of $1.36 to $1.46 given the “unprecedented uncertainty in the food supply chain and challenges present in the labor...

https://www.freightwaves.com/news/lack-of-labor-hurting-food-production-cold-storage-throughput-americold

Commodity price spikes slow logistics warehousing activity but don’t stop it

If first-quarter data points are any indication, the U.S. industrial real estate market has moved beyond the “firing on all cylinders” stage to another white-hot plateau. Tenants and lessees occupied 109.1 million square feet more space than they vacated, an all-time quarterly record, roughly double the long-term average and nearly 67% higher from the first quarter of 2020, according to data from Colliers International (NASDAQ:CIGI), a real estate services and investment management company. 

Abou...

https://www.freightwaves.com/news/commodity-price-spikes-slow-logistics-warehousing-activity-but-dont-stop-it

Food inventories ‘literally being eaten into,’ Americold says

Food stocks remain pressured as producers struggle to ramp production

Cold storage facility operator Americold Realty Trust (NYSE: COLD) said manufacturers still aren’t producing food products at pre-COVID levels and recent production activity isn’t keeping pace with demand. Food producers’ inventory is “literally being eaten into,” said Fred Boehler, president and CEO, on a Thursday evening call with analysts.

Demand for food and food consumption remains steady. However, food stocks held by Americold on behalf of its manufacturing customers, as well as food...

https://s29755.pcdn.co/news/food-inventories-literally-being-eaten-into-americold-says

Americold: Low protein stocks weigh on cold storage throughput

Americold's 2021 guidance ahead of estimates

Management from cold storage facility operator Americold Realty Trust (NYSE: COLD) said declines in protein inventories as well as other inventory-related supply chain disruptions are providing headwinds.

The Atlanta-based company reported adjusted funds from operations Thursday of 37 cents per share, 3 cents higher than the consensus estimate.

On a conference call with analysts, management said occupancy and flow-through have been pressured by reduced protein volumes and food services activity....

https://s29755.pcdn.co/news/americold:-low-protein-stocks-weigh-on-cold-storage-throughput

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