Lineage’s recent operational success has been guided by an ambitious growth strategy, including the introduction of new cutting-edge facilities to uplift its network of cold storage warehouses. Supported by these strategic expansions, the company has unveiled a 0.5 percent revenue increase to $1.3 billion for the third quarter of 2024.
"We are excited to report strong results for our first quarter as a public company, demonstrating our ability to perform well in various economic environments," said Greg Lehmkuhl, President and Chief Executive Officer. "We generated significant AFFO per share growth this quarter aided by our successful IPO and continued strong operating performance. Looking forward, we are well positioned to drive compounding growth, benefiting from our industry-leading real estate portfolio, innovative technology, and our strategic capital deployment engine. To that end, we are pleased to announce the acquisition of ColdPoint Logistics and we are excited to welcome them to the Lineage family."
In strategic moves to bolster its operations, Lineage recently opened a brand-new fully automated cold storage warehouse in Pennsylvania. The company also completed its $223 million acquisition of ColdPoint Logistics at the beginning of this month, expanding its existing presence in the Kansas City market.
Other highlights shared in the financial report include:
More details on the company’s third-quarter performance can be found here.
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