Last10K.com

Americold Realty Trust (COLD) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

Americold Realty Trust

HISTORY TOOLS
CIK: 1455863 Ticker: COLD

Exhibit 99.1

AMERICOLD REALTY TRUST, INC. ANNOUNCES FOURTH QUARTER 2022 RESULTS
Atlanta, GA, February 16, 2023
- Americold Realty Trust, Inc. (NYSE: COLD) (the “Company”), the world’s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, today announced financial and operating results for the fourth quarter ended December 31, 2022.
Fourth Quarter 2022 Highlights
•Total revenue increased 0.7% to $721.5 million.
•Total NOI increased 16.6% to $188.2 million.
•Core EBITDA increased 10.6% to $136.8 million, and increased 13.6% on a constant currency basis.
•Net income of $3.0 million, or $0.01 per diluted common share.
•Core FFO of $70.2 million, or $0.26 per diluted common share.
•AFFO of $78.2 million, or $0.29 per diluted common share.
•Global Warehouse segment revenue increased 8.0% to $598.7 million.
•Global Warehouse segment NOI increased 14.2% to $172.3 million.
•Global Warehouse segment same store revenue increased 8.3%, or 10.9% on a constant currency basis, Global Warehouse segment same store NOI increased by 13.1%, or 15.4% on a constant currency basis.
•Completed the Barcelona expansion for approximately €13.0 million.
•Completed the strategic exit of a significant component of our lower margin Third-party managed segment.
•On November 1, we prepaid at par the remaining $264.1 million indebtedness on our 2013 CMBS thereby transitioning all real estate debt to unsecured.
Year to Date 2022 Highlights
•Total revenue increased 7.4% to $2.9 billion.
•Total NOI increased 10.5% to $696.0 million.
•Core EBITDA increased 5.3% to $499.8 million, or 7.3% on a constant currency basis.
•Net loss of $19.5 million, or $0.07 loss per diluted common share.
•Core FFO of $249.0 million, or $0.92 per diluted common share.
•AFFO of $300.3 million, or $1.11 per diluted common share.
•Global Warehouse segment revenue increased 10.4% to $2.3 billion.
•Global Warehouse segment NOI increased 8.5% to $636.2 million.
•Global Warehouse segment same store revenue increased 6.4%, or 8.5% on a constant currency basis, Global Warehouse segment same store NOI increased 5.1%, or 6.7% on a constant currency basis.
Fourth Quarter 2022 Total Company Financial Results
Total revenue for the fourth quarter of 2022 was $721.5 million, a 0.7% increase from the same quarter of the prior year. This growth was driven by our core warehouse business which benefited from our pricing initiatives and rate escalations, higher economic occupancy, incremental revenue from acquisitions and recently completed expansion and development projects, partially offset by lower throughput volume in our same store portfolio. These increases exceeded the decrease in revenue from our Third-party managed segment as a result of our strategic exit of a significant component of this business. Additionally, total

The following information was filed by Americold Realty Trust (COLD) on Thursday, February 16, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Americold Realty Trust's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Americold Realty Trust.

Continue

Assess how Americold Realty Trust's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Americold Realty Trust's Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Other
Filter Subcategory:
All
Shares
Expense
Geography
Product
Debt
Earnings
Cash Flow
Other
Inside Americold Realty Trust's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (Loss) Income
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Details)
Accounts Payable And Accrued Expenses (Tables)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Activity In Aoci (Details)
Acquisition, Litigation And Other, Net
Acquisition, Litigation And Other, Net (Tables)
Acquisition, Litigation And Other, Net - Components Of Charges (Details)
Business Combinations
Business Combinations (Tables)
Business Combinations - Assets Acquired And Liabilities (Details)
Business Combinations - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Debt
Debt (Tables)
Debt - 2013 Mortgage Loans (Details)
Debt - Loss On Debt Extinguishment, Modifications And Termination Of Derivative Instruments (Details)
Debt - Schedule Of Aggregate Maturities Of Total Indebtedness (Details)
Debt - Schedule Of Senior Unsecured Notes (Details)
Debt - Schedule Of Senior Unsecured Revolving Credit Facility (Details)
Debt - Schedule Of Senior Unsecured Term Loans (Details)
Debt - Senior Unsecured Credit Facility (Details)
Debt - Summary Of Our Outstanding Indebtedness (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Amounts In The Condensed Consolidated Statement Of Operations, Including Impacts To Accumulated Other Comprehensive Income (Aoci) (Details)
Derivative Financial Instruments - Fair Value Amounts Of Derivative Instruments (Details)
Derivative Financial Instruments - Interest Rate Swaps Outstanding (Details)
Derivative Financial Instruments - Narrative (Details)
Description Of The Business
Description Of The Business (Details)
Earning Per Common Share (Tables)
Earnings Per Common Share
Earnings Per Common Share - Antidilutive Securities (Details)
Earnings Per Common Share - Reconciliation Of Weighted Average Number Of Common Shares Outstanding (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Actuarial Assumptions (Details)
Employee Benefit Plans - Additional Information (Details)
Employee Benefit Plans - Assumptions Used (Details)
Employee Benefit Plans - Components Of Net Period Benefit Cost (Details)
Employee Benefit Plans - Estimated Future Benefit Payments (Details)
Employee Benefit Plans - Fair Value Of Plan Assets (Details)
Employee Benefit Plans - Multiemployer Plans Contributions (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Geographic Concentrations
Geographic Concentrations (Details)
Geographic Concentrations (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Details)
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Changes In Carrying Value Of Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets (Details)
Income Taxes
Income Taxes - Income/(Loss) Before Income Taxes (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Schedule (Details)
Income Taxes - Schedule Of Components Of Income Tax Benefit (Expense) (Details)
Income Taxes - Temporary Difference (Details)
Income Taxes Income Taxes (Tables)
Investment In Partially Owned Entities - Schedule Of Unconsolidated Joint Venture (Details)
Investments In Partially Owned Entities
Investments In Partially Owned Entities (Tables)
Investments In Partially Owned Entities - Additional Information (Details)
Lease Accounting
Lease Accounting (Tables)
Lease Accounting - Future Minimum Payments To Be Received (Details)
Lease Accounting - Lessee Narrative (Details)
Lease Accounting - Lessee, Lease Expenses (Details)
Lease Accounting - Lessee, Minimum Lease Payments (Details)
Lease Accounting - Lessee, Other Information (Details)
Lease Accounting - Lessor, Narrative (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Contract Balances, Narrative (Details)
Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)
Revenue From Contracts With Customers - Performance Obligations, Expected Timing Of Recognition, Narrative (Details)
Revenue From Contracts With Customers - Performance Obligations, Narrative (Details)
Sale-Leasebacks Of Real Estate
Sale-Leasebacks Of Real Estate (Tables)
Sale-Leasebacks Of Real Estate - Future Minimum Lease Payments (Details)
Sale-Leasebacks Of Real Estate - Narrative (Details)
Sale-Leasebacks Of Real Estate - Schedule Of Outstanding Sale-Leaseback Financing Obligations (Details)
Schedule Iii - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation (Details)
Schedule Iii - Real Estate And Accumulated Depreciation - Footnotes (Details)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Assets (Details)
Segment Information - Revenues With A Reconciliation To Income (Loss) Before Income Tax And Gain (Loss) (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Op Units Activity (Details)
Stock-Based Compensation - Op Units Grants (Details)
Stock-Based Compensation - Performance Thresholds (Details)
Stock-Based Compensation - Restricted Stock Unit Activity (Details)
Stock-Based Compensation - Restricted Stock Units Grants (Details)
Stock-Based Compensation - Restricted Stock Units Valuation Assumptions (Details)
Stock-Based Compensation - Summary Of Option Activity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Allowance For Doubtful Accounts (Details)
Summary Of Significant Accounting Policies - Schedule Of Composition Of The Distributions Per Common Share (Details)
Ticker: COLD
CIK: 1455863
Form Type: 10-K Annual Report
Accession Number: 0001628280-23-005236
Submitted to the SEC: Mon Feb 27 2023 4:03:13 PM EST
Accepted by the SEC: Mon Feb 27 2023
Period: Saturday, December 31, 2022
Industry: Real Estate Investment Trusts

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/cold/0001628280-23-005236.htm