Lineage's Q1 Earnings: Stable Recovery Ahead

Lineage, a leading cold storage warehouse operator, reported its first quarter earnings, marking a turnaround from pandemic-driven oversupply. Despite a net loss of $51 million and adjusted funds from operations at $0.78 per share, down from last year, revenue increased slightly by 0.9% to $1.3 billion, missing estimates due to weaker container volumes. The company attributes this to leaner customer food inventories and seasonal trends. Lineage plans to implement 1-2% net price hikes this year, with 70% of revenue already repriced. The industry added 15% more space from 2021 to 2025, but new builds are slowing, and Lineage has 22 facilities under construction adding $150 million in annual EBITDA. Despite a 10% oversupply, Lineage remains committed to its full-year guidance of $1.25-1.3 billion in EBITDA, focusing on a steady recovery. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/995b4c5f706a364f