COLD earnings analysis
What we found in COLD's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Americold Realty Trust reported Q1 2026 revenue of $629.9 million, exceeding estimates of $604.4 million. However, diluted EPS was reported at $0.20, falling short of the expected $0.25, which represents a negative surprise. The Warehouse segment struggled with a revenue decline, while the Transportation segment experienced strong growth, rising 18.1% year-over-year. Despite these mixed results and headwinds from increased operational costs and market competition, management remains focused on maintaining liquidity and capital efficiency.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeded Expectations
- Actual revenue was $629.9 million vs estimated $604.4 million, a 4.2% surprise.
- EPS Misses Consensus
- Reported EPS of $0.20 vs estimated $0.25, a negative surprise of 20%.
- Growth in Transportation Segment
- Transportation revenue increased by 18.1% year-over-year, reaching $51.96 million.
- Joint Venture Announced
- Americold announced a $1.3 billion joint venture aiming at operational expansion.
- Gross Margin Improvement
- Gross margin improved to 32.7% from 32.5% in the prior quarter.
- Operational Cash Flow Increased
- Net cash provided by operating activities increased 32.2% to $39.9 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Interest Expenses
- Interest expense rose by 15% to $41.5 million due to higher debt levels.
- Operational Challenges
- Cost of operations for Warehouse segment increased 2.9%, affecting overall margins.
- Competition and Pricing Pressure
- Heightened competition has impacted both occupancy rates and overall revenues.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.2
- Gross margin
- 32.7%
- Operating margin
- 3.5%
- Segment
- Warehouse
- Segment
- Transportation
What they said about what is next.
Management maintained previous guidance for FY 2026.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 26, 2026
- Americold’s 2025 10-K highlights a roughly $2.6 billion consolidated revenue run-rate for 2025 (implied by international revenues of $608.4 million representing 23.4% of consolidated revenues), continued international…
- 10-Q · November 6, 2025
- Americold reported Q3 revenue of $663,665,000, down $10,506,000 (1.6%) versus Q3 2024; operating income fell to $16,751,000 (operating margin ~2.5%) from $27,226,000 a year ago and the company recorded a net loss of…
- 10-Q · May 10, 2024
- Americold reported Q1 revenue of $664.98M, down modestly from $676.49M a year ago, while operating income improved to $41.83M (from $32.35M) and the company swung to net income of $9.74M versus a net loss of $2.57M a…
- 10-K · February 29, 2024
- Americold positions itself as a global temperature‑controlled warehousing REIT focused on expansion, automation and ERP transformation while emphasizing fixed‑commitment contracts and hedging to manage cost and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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