Short answer
Americold Realty Trust (COLD) filed its fiscal 2018 10-K annual report with the SEC on Feb 26, 2019. It reported revenue of $1.6B (+3.9% year over year) and net income of $48M.
- Top risk flagged: Environmental liability under CERCLA and EPA regulation: ammonia release at Dallas warehouse exposed over 13,000 pallets of customer goods
FY2018 key financial metrics · XBRL
- Revenue
- $1.6B
- +3.9% YoY
- Net income
- $48M
- +7992.3% YoY
- Operating margin
- 11.4%
- +2.4 pp YoY
- EPS (diluted)
- $0.31
- +172.1% YoY
- ROE
- 6.8%
- +6.5 pp YoY
- Operating cash flow
- $188M
- +15.2% YoY
Source: XBRL data from the Americold Realty Trust (COLD) FY2018 10-K on SEC EDGAR. USD.
Americold Realty Trust FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Global temperature-controlled warehouse REIT, integrating owned storage, value-added handling, third-party management and transportation services
- 2018 IPO established public-market access, raising approximately $493.6 million from 33,350,000 shares
- Follow-on offering raised approximately $92.5 million, with 6,000,000 additional shares subject to forward sale
- Network reached 918.7 million cubic feet across the United States, Australia, New Zealand, Argentina and Canada
- Approximately 11,000 employees worldwide, with 56% represented by labor unions and associations
Management Discussion & Analysis
- Revenue $1.60B, up $60.0M or 3.7% YoY, led by warehouse revenue $1.18B, up 2.7%
- Warehouse segment best performer: contribution $374.5M, margin 31.8% vs 30.4%
- Quarry weakest segment: revenue $8.9M, down 7.9%, margin 7.0% vs 0%
- Operating cash flow $188.2M, capex $145.2M, dividends $78.5M, debt refinancing proceeds $1.13B
- Outlook: funding sources deemed adequate, with risks from inflation, foreign exchange, customer concentration and potential pension withdrawal liability of $511.7M
Risk Factors
- Environmental liability under CERCLA and EPA regulation: ammonia release at Dallas warehouse exposed over 13,000 pallets of customer goods
- Geographic concentration: 45.6% of warehouses located across Georgia, Pennsylvania, California, Wisconsin, Texas and Washington
- Customer concentration: 25 largest warehouse customers generated 63% of warehouse segment revenues in 2018
- Competitive obsolescence: Lineage Logistics and NewCold adding newer temperature-controlled warehouses in Americold markets
- Financial leverage: approximately $1.4 billion consolidated indebtedness, including $475.0 million variable-rate debt
Generated from the filing text; verify against the original. How to read a 10-K
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