Americold Realty Trust (COLD) · Nov 5, 2026 · Earnings

Americold earnings hold steady as 2026 guidance rises

In line — AFFO per share $0.35; fifth quarter meeting or beating expectations

Americold’s earnings were broadly in line, but stronger operating metrics and deleveraging support a higher 2026 outlook.

Americold is in the middle of an operational reset: industry conditions are stabilizing, management is trying to lift occupancy and pricing, and the EQT joint venture has shifted the near-term priority toward debt reduction before renewed growth. That backdrop was already established before this filing, including the previously announced EQT transaction and the prior $1.26–$1.32 2026 Adjusted FFO outlook.

The quarter was steady rather than a surprise. Adjusted FFO per share was $0.35, described as the fifth consecutive quarter meeting or beating expectations. The filing does not provide a precise external consensus for the quarter, so the clean read is in line—not a demonstrable earnings beat. Same-store revenue rose 4.9% and NOI 5.5%, while occupancy, pricing and throughput improved, showing that the recovery is translating into operating performance rather than remaining only a narrative. 〔0〕

Metric	Q3 2026	Prior guidance / comparison
AFFO per share (Financial performance)	$0.35	In line with expectations
Warehouse same-store revenue (Guidance detail)	$2.06B–$2.10B	$2.03B–$2.09B
Warehouse same-store NOI (Guidance detail)	$680M–$700M	$660M–$695M
Total company NOI (Guidance detail)	$800M–$830M	$775M–$815M
Core EBITDA (Guidance detail)	$585M–$610M	$570M–$600M
Adjusted FFO per share (Guidance detail)	$1.31–$1.33	$1.26–$1.32

The real positive is the guidance raise. Americold lifted the midpoint of full-year Adjusted FFO guidance by $0.03, while also raising warehouse revenue, warehouse NOI, total company NOI and Core EBITDA ranges. This is modestly better than the standing outlook and suggests that the combination of improving occupancy, pricing discipline and cost reductions is arriving faster or more reliably than previously assumed.

The balance-sheet repair gives the operating recovery more room to work. The EQT joint venture was already announced and closed before this filing, so the transaction itself is not new. But the deck makes its effect clearer: roughly $1.15 billion of proceeds went toward debt repayment, with about $50 million of projected annual interest savings and no debt maturities until 2029. That reduces financial pressure and supports a more selective growth strategy, although the company has also surrendered majority ownership of the contributed facilities and still needs to prove that the new capital structure produces better growth over time.

The growth plan is becoming more selective, not more aggressive. Americold is prioritizing customer-backed projects, portfolio exits and higher-return retail/QSR opportunities while limiting broader expansion until leverage falls further. The planned $163 million McCain facility, backed by a 20-year fixed commitment and targeted for completion in the first quarter of 2028, is the clearest example of growth with contracted demand rather than speculative capacity.

Bottom line: This is a modestly better update, not a story reset: the quarter held the line, but higher guidance and completed deleveraging show Americold is executing its stabilization plan ahead of the prior outlook.

What to watch next

Q4 results and 2027 outlook

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

Bull 58%Neu 27%Bear 15%

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Americold earnings hold steady as 2026 guidance rises

What to watch next

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