The cold-storage REIT raised its 2026 AFFO outlook to $1.26-$1.32 per share on stronger physical occupancy and cost savings.
Americold Realty Trust increased its full-year adjusted funds from operations guidance to $1.26-$1.32 per share, up from prior expectations. The revision reflects a 200 basis point sequential rise in physical occupancy and $25 million in targeted cost savings by early 2027.
Physical occupancy improved as smaller competitors exited the market, tightening the gap between physical and economic occupancy to 860 basis points. Management cited deliberate market share gains and new business wins as key drivers, while maintaining pricing discipline.
The company also absorbed a $0.05 dilutive impact from its $1.3 billion EQT joint venture, offset by base business outperformance. Inventory levels stabilized after years of destocking, aligning safety stock with demand.