Lineage Q1 Net Loss Sharply Narrows; Trims FY25 Outlook

(RTTNews) - Lineage, Inc. (LINE), the world's largest global temperature-controlled warehouse REIT, announced Tuesday a net loss attributable to the company for the first quarter of $6 million or $0.03 per share, sharply narrower than $68 million or $0.46 per share in the prior-year quarter.

Funds from operations, or FFO, for the quarter were $91 million, compared to $22 million last year. Adjusted funds from operations, or AFFO, were $211 million or $0.81 per share, compared to $136 million or $0.75 per share in the year-ago quarter.

Total revenues for the quarter edged up 0.9 percent to $1.35 billion from $1.34 million in the same quarter last year.

On average, analysts polled expect the company to report a loss of $0.08 per share on revenue of $1.37 billion for the year. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2025, the company now projects adjusted EBITDA in a range of $1.29 billion to $1.34 billion and AFFO in a range of $3.20 to $3.40 per share. The Street is looking for a loss of $0.32 per share for the year.

Previously, the company expected adjusted EBITDA in a range of $1.35 billion to $1.40 billion and AFFO in a range of $3.40 to $3.60 per share.

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