Lineage reported second-quarter results that exceeded expectations, with adjusted EBITDA of approximately $320 million and adjusted funds from operations of $198 million, or $0.76 per share, as improved occupancy and cost controls offset trade-related volume pressure. The company raised its full-year same-store net operating income growth guidance to a range of negative 3% to flat, up from prior guidance of negative 4% to negative 1%, and increased its AFFO guidance to $2.80 to $3.05 per share from $2.75 to $3.00. However, headwinds persist, including a 1.8% decline in same-store throughput pallets, a 14% drop in container volumes, and an expected $15 million EBITDA reduction in the second half from a fire at its Big Bear facility. Lineage also lowered its full-year Global Integrated Solutions NOI outlook to negative 4% to negative 2% due to carrier-rate pressure and a $7 million legal settlement.
Lineage, Inc. Common StockQ2 beat and raised full-year AFFO and same-store NOI guidance
