Lineage posts Q1 loss as cold storage market stabilises
Updated
Updated · FreightWaves · May 6
Lineage posts Q1 loss as cold storage market stabilises
5 articles · Updated · FreightWaves · May 6
The Novi, Michigan-based company reported a $51 million net loss, $1.3 billion revenue and 78 cents AFFO per share, while shares rose 3.3% by late morning.
Executives said pandemic-era oversupply is easing as inventories normalise; occupancy was 76.4%, pallet throughput fell 3%, and a 17% drop in container volumes hurt drayage revenue.
Lineage said cold storage supply grew 15% from 2021 to 2025 against 5% demand growth, leaving the market about 10% oversupplied, but reiterated full-year EBITDA and AFFO guidance.
Can Lineage's AI deliver profits when the company just posted a $51 million quarterly loss?
As GLP-1 drugs and online groceries boom, can one company master both complex, high-stakes cold chains?
Is the cold storage market's recovery real, or just a brief thaw before another deep freeze for investors?