AG真人官方

Lineage, Inc. Reports Second-Quarter 2025 Financial Results

NOVI, Mich.--(BUSINESS WIRE)-- Lineage, Inc. (NASDAQ: LINE) (the "Company"), the world鈥檚 largest global temperature-controlled warehouse REIT, today announced its financial results for the second quarter of 2025.

Second-Quarter 2025 Financial Highlights

• Total revenue increased 0.9% to $1,350 million
• GAAP net loss of $(7) million, or $(0.03) per diluted common share
• Adjusted EBITDA decreased (2.4)% to $326 million; adjusted EBITDA margin decreased (90)bps to 24.1%
• AFFO increased 55.1% to $211 million; AFFO per share increased 8.0% to $0.81
• Completed inaugural $500 million investment grade bond offering of 5-year unsecured notes with a 5.25% coupon
• Declared quarterly dividend of $0.5275 per share, representing annualized dividend rate of $2.11 per share

"We delivered second-quarter results in line with our expectations," said Greg Lehmkuhl, president and chief executive officer of Lineage. "We achieved AFFO per share growth driven by our continued focus on serving our customers and operational excellence while navigating a challenging period for our industry.

"We saw muted seasonal inventory levels late in the second quarter and early into the third and are therefore lowering our outlook for the year. While we expect continued sequential improvement in both same warehouse and total NOI in the second half, we are taking a more measured view of the balance of the year. Our focus remains on revenue growth, optimizing labor productivity, and controlling the controllables, setting the stage for strong operating leverage when our industry rebounds," concluded Lehmkuhl.

Initiating Third-Quarter and Updating Full-Year 2025 Guidance

Lineage now expects full-year 2025 adjusted EBITDA of $1.29 to $1.34 billion (versus prior guidance of $1.35 to $1.40 billion) and Adjusted FFO ("AFFO") per share of $3.20 to $3.40 (versus prior guidance of $3.40 to $3.60).

The Company expects third-quarter 2025 adjusted EBITDA of $326 to $336 million and AFFO per share of $0.75 to $0.79.

The Company's guidance excludes the impact of unannounced future acquisitions or developments.

Please refer to the Lineage's Earnings Presentation and Supplemental Information for additional details related to the Company's guidance.

Second-Quarter 2025 Financial Results Conference Call and Earnings Presentation with Supplemental

Please visit ir.onelineage.com/events-and-presentations to view Lineage鈥檚 second-quarter 2025 Earnings Presentation and Supplemental Information.

Lineage will host a conference call and webcast today at 8:00 a.m. Eastern Time to discuss the company鈥檚 second-quarter 2025 financial results. Interested parties may listen by visiting the Lineage Investor Relations website at ir.onelineage.com. A replay of the webcast will be available for approximately one year on the Company's investor relations website.

About Lineage

Lineage, Inc. (NASDAQ: LINE) is the world鈥檚 largest global temperature-controlled warehouse REIT with a network of over 485 strategically located facilities totaling approximately 88 million square feet and approximately 3.1 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world鈥檚 largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world. Learn more at onelineage.com and join us on , , , and .

Forward-Looking Statements

Certain statements contained in this Press Release, other than historical facts, may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Lineage operates, and beliefs of, and assumptions made by, the Company and involve uncertainties that could significantly affect Lineage鈥檚 financial results. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渃an,鈥� 鈥渋ntend,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渂elieve,鈥� 鈥渃ontinue,鈥� 鈥減ossible,鈥� 鈥渋nitiatives,鈥� 鈥渕easures,鈥� 鈥減oised,鈥� 鈥渇ocus,鈥� 鈥渟eek,鈥� 鈥渙bjective,鈥� 鈥済oal,鈥� 鈥渧ision,鈥� 鈥渄rive,鈥� 鈥渙pportunity,鈥� 鈥渢arget,鈥� 鈥渟trategy,鈥� 鈥渆xpect,鈥� 鈥減lan,鈥� 鈥減otential,鈥� 鈥減otentially,鈥� 鈥減reparing,鈥� 鈥減rojected,鈥� 鈥渇uture,鈥� 鈥渢omorrow,鈥� 鈥渓ong-term,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渨ould,鈥� 鈥渕ight,鈥� 鈥渉elp,鈥� 鈥渁imed鈥�, or other similar words. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Press Release. Such statements include, but are not limited to statements about Lineage鈥檚 plans, strategies, initiatives, and prospects and statements about its future results of operations, capital expenditures and liquidity. Such statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those projected or anticipated, including, without limitation: general business and economic conditions; continued volatility and uncertainty in the credit markets and broader financial markets, including potential fluctuations in the Consumer Price Index and changes in foreign currency exchange rates; the impact of tariffs and global trade disruptions on us and our customers; other risks inherent in the real estate business, including customer defaults, potential liability related to environmental matters, illiquidity of real estate investments and potential damages from natural disasters; the availability of suitable acquisitions and our ability to acquire properties or businesses on favorable terms; our success in implementing our business strategy and our ability to identify, underwrite, finance, consummate, integrate and manage diversifying acquisitions or investments; our ability to meet budgeted or stabilized returns on our development and expansion projects within expected time frames, or at all; our ability to manage our expanded operations, including expansion into new markets or business lines; our failure to realize the intended benefits from, or disruptions to our plans and operations or unknown or contingent liabilities related to, our recent and future acquisitions and greenfield developments; our failure to successfully integrate and operate acquired or developed properties or businesses; our ability to renew significant customer contracts; the impact of supply chain disruptions, including the impact on labor availability, raw material availability, manufacturing and food production, and transportation; difficulties managing an international business and acquiring or operating properties in foreign jurisdictions and unfamiliar metropolitan areas; changes in political conditions, geopolitical turmoil, political instability, civil disturbances, restrictive governmental actions or nationalization in the countries in which we operate; the degree and nature of our competition; our failure to generate sufficient cash flows to service our outstanding indebtedness; our ability to access debt and equity capital markets; continued volatility in interest rates; increased power, labor, or construction costs; changes in consumer demand or preferences for products we store in our warehouses; decreased storage rates or increased vacancy rates; labor shortages or our inability to attract and retain talent; changes in, or the failure or inability to comply with, government regulation; a failure of our information technology systems, systems conversions and integrations, cybersecurity attacks or a breach of our information security systems, networks, or processes; our failure to maintain our status as a real estate investment trust (鈥淩EIT鈥�) for U.S. federal income tax purposes; changes in local, state, federal, and international laws and regulations, including related to taxation, tariffs, real estate and zoning laws, and increases in real property tax rates; the impact of any financial, accounting, legal, tax or regulatory issues or litigation that may affect us, and any other risks discussed in the Company鈥檚 filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC. Should one of more of the risks or uncertainties described above occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Forward-looking statements in this Press Release speak only as of the date of this Press Release, and undue reliance should not be placed on such statements. We undertake no obligation to, nor do we intend to, update, or otherwise revise, any such statements that may become untrue because of subsequent events.

While the forward-looking statements are considered reasonable by the Company, they are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company and cannot be predicted with accuracy and may not be realized. There can be no assurance that the forward-looking statements can or will be attained or maintained. Actual operating results may vary materially from the forward-looking statements included in this Press Release.

Availability of Information on Lineage's Website and Social Media Channels

Investors and others should note that Lineage routinely announces material information to investors and the marketplace using U.S. Securities and Exchange Commission (SEC) filings, press releases, public conference calls, webcasts and the Lineage Investor Relations website. The Company uses these channels as well as social media channels (e.g., the Lineage LinkedIn account (linkedin.com/company/onelineage/); the Lineage Facebook account (facebook.com/lineagelogistics); the Lineage Instagram account (instagram.com/onelineage/); the Lineage X account (twitter.com/OneLineage)) as a means of disclosing information about the Company's business to our customers, colleagues, investors, and the public. While not all of the information that the Company posts to the Lineage Investor Relations website or on the Company's social media channels is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in Lineage to review the information that it shares at the Investor Relations link located at the top of the page on onelineage.com and on the Company's social media channels. Users may automatically receive email alerts and other information about the Company when enrolling an email address by visiting "Investor Email Alerts" in the "Resources" section of the Lineage Investor Relations website at ir.onelineage.com. The contents of these websites are not incorporated by reference into this Press Release or any report or document Lineage files with the SEC, and any references to the websites are intended to be inactive textual references only.