Americold Realty Trust, Inc. (COLD): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado mundo de la logística de la cadena de frío, Americold Realty Trust, Inc. (Cold) emerge como un jugador fundamental, transformando cómo los productos sensibles a la temperatura navegan por las cadenas de suministro globales. Este innovador fideicomiso de inversión inmobiliaria (REIT) orquesta una compleja sinfonía de almacenamiento especializado, tecnología de vanguardia y asociaciones estratégicas que aseguran la preservación y distribución de productos críticos, farmacéuticos y agrícolas en diversas industrias. Al aprovechar una red expansiva de instalaciones controladas con temperatura y soluciones logísticas avanzadas, Americold no solo almacena bienes, sino que revoluciona todo el ecosistema de almacenamiento en frío, lo que hace que la eficiencia de la cadena de suministro sea una realidad tangible para las empresas de todo el mundo.

Americold Realty Trust, Inc. (Cold) - Modelo de negocios: asociaciones clave

Propietarios de propiedades y desarrolladores de almacenes controlados por temperatura

A partir del cuarto trimestre de 2023, Americold Realty Trust opera 247 almacenes con temperatura controlada a nivel mundial, por un total de 1.900 millones de pies cúbicos de capacidad de almacenamiento.

Tipo de asociación	Número de propiedades	Extensión geográfica
Propiedades propias	173	Estados Unidos, Canadá, Australia
Propiedades administradas	74	Mercados internacionales

Principales fabricantes y distribuidores de alimentos

Las asociaciones estratégicas clave incluyen:

• Sysco Corporation
• Grupo de alimentos de rendimiento
• Tumbas al por mayor
• Kraft Heinz Company

Pareja	Valor anual del contrato	Volumen de almacenamiento
Sysco Corporation	$ 35.2 millones	425,000 posiciones de paletas
Grupo de alimentos de rendimiento	$ 28.7 millones	350,000 posiciones de paletas

Empresas de logística de envío y transporte global

Americold colabora con:

• Logística de FedEx
• Logística XPO
• Soluciones de cadena de suministro de UPS

Empresas de inversión y gestión inmobiliarias

Las asociaciones de inversión incluyen:

• Blackstone Real Estate Partners
• Goldman Sachs Infrastructure Partners
• Morgan Stanley Investing Real Estate

Socio de inversión	Monto de la inversión	Año de asociación
Piedra negra	$ 500 millones	2021
Goldman Sachs	$ 350 millones	2022

Proveedores de tecnología para sistemas de gestión de almacenes

Las asociaciones tecnológicas implican:

• Asociados de Manhattan
• SAVIA
• Oracle Warehouse Management Cloud

Socio tecnológico	Costo de implementación	Capacidades del sistema
Asociados de Manhattan	$ 12.5 millones	Seguimiento de inventario en tiempo real
SAVIA	$ 9.8 millones	Gestión de logística integrada

Americold Realty Trust, Inc. (Cold) - Modelo de negocio: actividades clave

Adquirir y desarrollar almacenes controlados por temperatura

A partir del cuarto trimestre de 2023, Americold Realty Trust poseía 244 almacenes controlados por temperatura con un total de 1,9 mil millones de pies cúbicos de capacidad de almacenamiento. La compañía invirtió $ 276.4 millones en adquisiciones de propiedades durante 2023.

Métrico de almacén	2023 datos
Almacenes totales	244
Capacidad de almacenamiento total	1.9 mil millones de pies cúbicos
Inversión de adquisición de propiedades	$ 276.4 millones

Proporcionar almacenamiento en frío y soluciones logísticas

Americold maneja 185 Instalaciones controladas por temperatura En múltiples geografías, sirviendo a productores de alimentos, distribuidores y minoristas.

• Rango promedio de temperatura del almacén: -10 ° F a 45 ° F
• Almacenamiento especializado para productos frescos, congelados y farmacéuticos
• Servicios integrados de logística y transporte

Gestión de operaciones de fideicomiso de inversión inmobiliaria (REIT)

En 2023, Americold reportó ingresos totales de $ 2.48 mil millones con un ingreso operativo neto de $ 660.2 millones.

Métrica financiera	Valor 2023
Ingresos totales	$ 2.48 mil millones
Ingresos operativos netos	$ 660.2 millones

Arrendamiento y mantenimiento de instalaciones especializadas de almacenamiento en frío

La compañía mantiene un Tasa de ocupación del 98,4% a través de su cartera de almacén controlada con temperatura.

• Los términos de arrendamiento varían de 3 a 10 años
• Los clientes incluyen principales fabricantes de alimentos y minoristas
• Soluciones de almacenamiento personalizadas para diversas necesidades de la industria

Optimización de la eficiencia de la cadena de suministro para las industrias relacionadas con los alimentos

Americold sirve a más de 3.200 clientes en la producción de alimentos, la distribución y los sectores minoristas, con un enfoque en la reducción de la complejidad de la cadena de suministro.

Métrica de la cadena de suministro	2023 datos
Total de clientes	3,200+
Alcance geográfico	Estados Unidos, Europa, Australia
Flota de transporte	Más de 200 camiones refrigerados

Americold Realty Trust, Inc. (Cold) - Modelo de negocio: recursos clave

Extensa red de almacenes controlados por temperatura

A partir del cuarto trimestre de 2023, Americold Realty Trust opera 245 almacenes controlados por temperatura en América del Norte, con una capacidad de almacenamiento total de 1.900 millones de pies cúbicos. La cartera de bienes raíces de la compañía abarca aproximadamente 179.4 millones de pies cuadrados de instalaciones de almacenamiento en frío.

Métrico de almacén	Cantidad
Almacenes totales	245
Capacidad de almacenamiento total	1.9 mil millones de pies cúbicos
Hoques cuadrados totales	179.4 millones de pies cuadrados

Infraestructura especializada de almacenamiento en frío

La infraestructura de Americold incluye:

• Sistemas de almacenamiento automatizados de temperatura controlada
• Tecnologías avanzadas de refrigeración
• Equipo de manejo especializado para bienes perecederos

Equipo experimentado de gestión y logística

A partir de 2023, Americold emplea a aproximadamente 18.500 personas en sus operaciones, con un equipo de gestión que promedia más de 15 años de experiencia en la industria.

Tecnología avanzada de gestión de almacenes

La compañía utiliza Sistemas de gestión de almacenes (WMS) patentados (WMS) con seguimiento de inventario en tiempo real, incluyendo:

• Monitoreo de temperatura habilitado para IoT
• Gestión de inventario automatizado
• Tecnologías de mantenimiento predictivo

Cartera de bienes raíces estratégicas

Región geográfica	Número de instalaciones
Estados Unidos	204
Canadá	22
Mercados internacionales	19

La cartera de bienes raíces de la compañía está valorada en aproximadamente $ 4.7 mil millones al 31 de diciembre de 2023, con una presencia diversificada en múltiples regiones e industrias.

Americold Realty Trust, Inc. (Cold) - Modelo de negocio: propuestas de valor

Soluciones de logística de cadena de frío integral

A partir de 2024, Americold Realty Trust administra 246 almacenes controlados por temperatura con un total de 1,9 mil millones de pies cúbicos de capacidad de almacenamiento en América del Norte, Europa y Australia.

Métrico	Valor
Almacenes totales	246
Capacidad de almacenamiento total	1.9 mil millones de pies cúbicos
Presencia geográfica	América del Norte, Europa, Australia

Almacenamiento especializado para productos sensibles a la temperatura

Americold ofrece soluciones de almacenamiento especializadas para múltiples categorías de productos:

• Alimentos congelados: 68% de la cartera de almacenamiento
• Productos frescos: 22% de la cartera de almacenamiento
• Productos farmacéuticos: 10% de la cartera de almacenamiento

Gestión de la cadena de suministro confiable y eficiente

La compañía opera con infraestructura tecnológica avanzada:

• Nivel promedio de automatización de almacenes: 87%
• Sistemas de seguimiento de inventario en tiempo real
• Tecnología de monitoreo de temperatura

Instalaciones de almacenamiento sostenibles y tecnológicamente avanzadas

Métrica de sostenibilidad	Rendimiento actual
Mejora de la eficiencia energética	Reducción del 22% desde 2020
Uso de energía renovable	37% del consumo total de energía
Reducción de emisiones de carbono	15% disminuye año tras año

Servicios de almacenamiento y distribución flexibles para la industria alimentaria

Servir segmentos de mercado clave con soluciones especializadas:

• Minoristas de comestibles: 42% de la base de clientes
• Fabricantes de alimentos: 33% de la base de clientes
• Distribuidores de servicios de alimentos: 25% de la base de clientes

Ingresos anuales (2023): $ 2.87 mil millones

Capitalización de mercado (2024): $ 5.6 mil millones

Americold Realty Trust, Inc. (Cold) - Modelo de negocios: relaciones con los clientes

Acuerdos contractuales a largo plazo con clientes clave

A partir del cuarto trimestre de 2023, Americold Realty Trust mantiene aproximadamente 98 contratos a largo plazo con los principales clientes de la industria alimentaria, con una duración de contrato promedio de 7.2 años. El valor total del contrato supera los $ 1.2 mil millones anuales.

Segmento de clientes	Número de contratos	Valor de contrato promedio
Fabricantes de alimentos	42	$ 425 millones
Minoristas de comestibles	31	$ 385 millones
Distribuidores de servicios de alimentos	25	$ 390 millones

Equipos de gestión de cuentas dedicados

Americold emplea a 127 profesionales especializados de gestión de cuentas que sirven a sus clientes de primer nivel. Estos equipos administran relaciones que representan el 82% de los ingresos totales de la compañía.

Soluciones de almacenamiento y logística personalizadas

La compañía proporciona Soluciones de almacenamiento en frío a medida En 179 almacenes controlados por temperatura, que cubren 1.800 millones de pies cúbicos de capacidad de almacenamiento.

• La temperatura varía de -20 ° F a 60 ° F
• Sistemas de gestión de inventario personalizados
• Manejo especializado para productos farmacéuticos y perecederos

Seguimiento e informes habilitados para la tecnología

La plataforma digital de Americold procesa aproximadamente 3.6 millones de transacciones de inventario diariamente, con capacidades de seguimiento en tiempo real que cubren el 98.7% del inventario almacenado.

Métrica de tecnología	Actuación
Transacciones de inventario diario	3.6 millones
Precisión de seguimiento	98.7%
Tiempo de actividad de la plataforma digital	99.94%

Mejora continua y optimización de servicios

Americold invierte $ 42.3 millones anuales en iniciativas de mejora de servicios, lo que resulta en una tasa de retención de clientes del 94.5% en 2023.

• Encuestas anuales de satisfacción del cliente
• Revisiones trimestrales de rendimiento
• Actualizaciones de infraestructura de tecnología continua

Americold Realty Trust, Inc. (Cold) - Modelo de negocios: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, Americold Realty Trust mantiene una fuerza de ventas dedicada de 87 profesionales directos de ventas dirigidos a la logística controlada por temperatura y los clientes de almacenamiento en frío.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	87
Cartera de clientes promedio por representante	14
Generación de ingresos del equipo de ventas anual	$ 372 millones

Plataformas de información de propiedades y servicios en línea

Americold opera una plataforma digital integral con las siguientes especificaciones:

• Tráfico del sitio web: 124,567 visitantes únicos mensualmente
• Listados de propiedades en línea: 135 Instalaciones controladas por temperatura
• Fecha de lanzamiento de la plataforma digital: marzo de 2021
• Tasa de participación de la plataforma que responde a dispositivos móviles: 62%

Conferencias de la industria y ferias comerciales

Participación de la conferencia	2023 estadísticas
Conferencias totales a las que asistió	17
Generación de leads total	463 clientes potenciales
Tasa de conversión	22.3%

Marketing de inversión inmobiliaria

Los canales de comercialización de inversión inmobiliaria de Americold incluyen:

• Presentaciones de inversores institucionales: 42 por año
• Tráfico del sitio web de relaciones con los inversores: 86,345 visitantes anuales
• Participantes de transmisión por Internet de ganancias trimestrales: 1,287

Comunicación digital y portales de clientes

Métrica de comunicación digital	2023 datos
Usuarios activos del portal del cliente	1,246
Interacciones portal mensuales promedio	3.7 por cliente
Clientes de seguimiento de inventario en tiempo real	892

Americold Realty Trust, Inc. (Cold) - Modelo de negocio: segmentos de clientes

Fabricantes de alimentos

A partir de 2023, Americold atiende a aproximadamente 2,200 clientes de fabricación de alimentos en América del Norte. El total de ingresos de la industria de fabricación de alimentos fue de $ 1.2 billones en 2022.

Tipo de cliente	Número de clientes	Volumen de almacenamiento promedio
Grandes fabricantes de alimentos	350	500,000 pies cuadrados
Fabricantes de alimentos medianos	850	100,000 pies cuadrados
Pequeños fabricantes de alimentos	1,000	25,000 pies cuadrados

Productores agrícolas

Americold administra el almacenamiento en frío para 425 productores agrícolas en 2023, con una producción agrícola total valorada en $ 388 mil millones.

• Productores de lácteos: 125 clientes
• Procesadores de carne: 175 clientes
• Productores de frutas y verduras: 125 clientes

Compañías farmacéuticas

En 2023, Americold atiende a 187 clientes farmacéuticos, con logística especializada en la cadena de frío para productos médicos sensibles a la temperatura.

Segmento farmacéutico	Número de clientes	Ingresos anuales de almacenamiento
Fabricantes de vacunas	42	$ 87 millones
Compañías de biotecnología	65	$ 120 millones
Compañías de suministros médicos	80	$ 95 millones

Cadenas de comestibles y minoristas

Americold admite 412 clientes de la cadena minorista y de comestibles en 2023, que representa $ 9.3 billones en ventas totales de alimentos minoristas.

• Cadenas nacionales de comestibles: 85 clientes
• Cadenas regionales de supermercado: 187 clientes
• Minoristas de alimentos especializados: 140 clientes

Distribuidores de alimentos internacionales

A partir de 2023, Americold atiende a 156 distribuidores internacionales de alimentos en múltiples continentes, con una distribución global de alimentos valorada en $ 4.7 billones.

Región	Número de distribuidores	Volumen de almacenamiento anual
América del norte	82	15 millones de pies cúbicos
Europa	38	7 millones de pies cúbicos
Asia-Pacífico	36	6 millones de pies cúbicos

Americold Realty Trust, Inc. (Cold) - Modelo de negocio: Estructura de costos

Gastos de adquisición y desarrollo de bienes raíces

A partir del cuarto trimestre de 2023, Americold Realty Trust informó:

Categoría de gastos	Cantidad (USD)
Adquisiciones de propiedades totales	$ 89.4 millones
Inversiones de desarrollo	$ 62.7 millones
Costos de mejora de la propiedad	$ 24.3 millones

Mantenimiento y operaciones de las instalaciones

Desglose anual de gastos operativos:

• Mantenimiento de la instalación: $ 47.2 millones
• Mantenimiento del sistema de refrigeración: $ 18.6 millones
• Costos de consumo de energía: $ 33.5 millones

Inversiones de tecnología e infraestructura

Detalles del gasto tecnológico:

Categoría de tecnología	Inversión (USD)
Infraestructura	$ 12.9 millones
Sistemas de gestión de almacenes	$ 8.3 millones
Inversiones de ciberseguridad	$ 5.6 millones

Salarios y capacitación de los empleados

Gastos relacionados con la fuerza laboral:

• Compensación total de empleados: $ 215.6 millones
• Presupuesto de capacitación y desarrollo: $ 3.7 millones
• Salario promedio de empleados: $ 68,400

Cumplimiento regulatorio y costos de seguro

Cumplimiento y gastos de gestión de riesgos:

Categoría de cumplimiento	Costo anual (USD)
Primas de seguro	$ 22.1 millones
Cumplimiento regulatorio	$ 7.4 millones
Certificación de seguridad	$ 3.2 millones

Americold Realty Trust, Inc. (Cold) - Modelo de negocios: flujos de ingresos

Contratos de arrendamiento a largo plazo

A partir del cuarto trimestre de 2023, Americold reportó $ 328.8 millones en ingresos totales de los contratos de arrendamiento a largo plazo. La duración promedio de arrendamiento es de 10-15 años con clientes de almacenamiento controlados por temperatura.

Tipo de arrendamiento	Ingresos anuales	Porcentaje de ingresos totales
Instalaciones de almacenamiento en frío	$ 215.6 millones	65.6%
Instalaciones logísticas	$ 113.2 millones	34.4%

Tarifas de servicio de almacenamiento y logística

Las tarifas de servicio de almacenamiento y logística generaron $ 142.5 millones en ingresos para 2023, lo que representa el 15.7% de los ingresos totales de la compañía.

• Servicios de almacenamiento: $ 87.3 millones
• Logística de transporte: $ 55.2 millones

Ingresos de alquiler de propiedades

Los ingresos por alquiler de propiedades para 2023 fueron de $ 186.4 millones, con una tasa de ocupación del 97.3% en 183 almacenes controlados por temperatura.

Región geográfica	Ingreso de alquiler	Número de propiedades
Estados Unidos	$ 142.6 millones	139
Mercados internacionales	$ 43.8 millones	44

Servicios de logística de valor agregado

Los servicios de valor agregado generaron $ 76.2 millones en ingresos para 2023, con manejo especializado y soluciones logísticas personalizadas.

• Gestión de inventario: $ 34.5 millones
• Embalaje personalizado: $ 22.7 millones
• Monitoreo de temperatura: $ 19.0 millones

Distribuciones de dividendos de fideicomiso de inversión inmobiliaria (REIT)

En 2023, Americold distribuyó $ 1.28 por acción en dividendos, totalizando $ 74.6 millones en distribuciones de dividendos REIT.

Métrico de dividendos	Cantidad
Dividendo anual por acción	$1.28
Distribuciones de dividendos totales	$ 74.6 millones
Rendimiento de dividendos	4.2%

Americold Realty Trust, Inc. (COLD) - Canvas Business Model: Value Propositions

You're looking at the core value Americold Realty Trust, Inc. (COLD) delivers to its customers-it's not just storage space; it's a full-service, temperature-controlled ecosystem. This is what keeps the world's food supply moving reliably.

Integrated cold chain solution (real estate ownership plus logistics).

Americold Realty Trust, Inc. doesn't just own the buildings; they operate the complex logistics inside them. This means you get a single partner managing both the physical asset-the real estate-and the critical services like handling, blast freezing, and transportation. This integration is key to efficiency, especially when securing major wins, like the new fixed commitment contract with one of the world's largest retailers that was enabled by the Houston Warehouse Acquisition in Q1 2025.

Reliable, defintely essential infrastructure for global food supply.

The infrastructure Americold Realty Trust, Inc. owns is a non-negotiable part of the global food system. As of December 31, 2024, their network spanned the globe, providing essential continuity for temperature-sensitive products. This scale means they are positioned to service some of the largest food retailers and producers in the world, often through relationships spanning decades.

Here's a look at that physical footprint as reported at the end of 2024:

Metric	Value
Total Temperature-Controlled Warehouses (as of 12/31/2024)	239
North America Warehouses	195
Europe Warehouses	25
Asia-Pacific Warehouses	17
South America Warehouses	2
Total Cubic Feet (as of 12/31/2024)	1.4 billion

Predictable costs via 60% fixed-commitment storage contracts.

To counter the volume volatility inherent in the cold storage market, Americold Realty Trust, Inc. has structurally shifted its revenue base toward stability. They have increased fixed-commitment contracts to 60% of rent and storage revenue, a significant jump from under 40% just three years prior. This provides a crucial buffer, ensuring more predictable cash flows even when throughput volumes fluctuate.

Operational excellence driving global warehouse service margins (Q1 2025: 11.2%).

The focus on operational improvements, including the ongoing Project Orion transformation program, directly translates to better service profitability. For the first quarter of 2025, the same-store warehouse services margin improved to 11.2%. This focus on efficiency and cost control is a continuous effort; by the third quarter of 2025, the same-store services margin had further increased to 12.3%, showing sustained execution against their productivity initiatives.

The service margin performance across the first three quarters of 2025 looks like this:

• Q1 2025 Same-Store Services Margin: 11.2% (or 11.3%)
• Q2 2025 Same-Store Services Margin: 13.3%
• Q3 2025 Same-Store Services Margin: 12.3%

Global scale and presence at all key nodes in the cold chain.

The value proposition is amplified by their strategic footprint. Americold Realty Trust, Inc. maintains a presence at all key nodes in the cold chain, which is essential for servicing major customers across their entire distribution network. This global scale, supported by the network detailed above, provides unique growth opportunities by allowing them to accommodate new, large-scale customer agreements that require broad geographic coverage.

Finance: draft 13-week cash view by Friday.

Americold Realty Trust, Inc. (COLD) - Canvas Business Model: Customer Relationships

You're looking at how Americold Realty Trust, Inc. (COLD) locks in its revenue and supports its major clients; it's all about deep integration and long-term commitments, which is key for a capital-intensive REIT like this.

Dedicated account management for top customers.

Americold Realty Trust, Inc. focuses its high-touch relationship efforts where the revenue concentration is highest. Honestly, when you see that a small number of clients drive the majority of the business, you expect dedicated service structures to be in place to protect that revenue base. The company serves approximately 3,200 customers globally, but the relationship depth varies significantly.

The stickiness of these relationships is evident in the longevity and the low turnover. Customer churn remains in the low single digits, with the churn rate specifically noted as below 4%. This suggests the dedicated management structure is defintely working to keep the core base satisfied.

Customer Group	Revenue Concentration (Approximate)	Relationship Tenure Insight
Top 100 Customers	70% of total warehouse revenue	Most see benefits of fixed commitment contracts
Top 25 Customers	Approximately 50% of global warehouse revenue	Averaging over 35 years

This concentration means that managing the top tier is paramount to Americold Realty Trust, Inc.'s financial stability.

Long-term, fixed-commitment contracts for space reservation.

The primary mechanism Americold Realty Trust, Inc. uses to ensure stable occupancy and mitigate revenue volatility from seasonal business is the fixed-commitment contract. Rent and storage revenues from these contracts held steady at 60% as of Q3 2025, which management views as the appropriate long-term level for this metric.

These contracts are most prevalent in their production-advantaged facilities, which are located close to where food is harvested or produced. These facilities are critical to customer production strategies, often service only one or two customers, and consequently see the highest economic occupancy rates.

• Production advantaged facilities account for about 30% of Americold Realty Trust, Inc.'s capacity and revenue.
• These sites generally operate under long-term fixed commitment agreements.
• The economic occupancy at these sites shows the highest gap between physical occupancy, reflecting the value customers place on controlling the space near production.

Strategic, collaborative development projects with key customers.

Americold Realty Trust, Inc. actively co-invests in growth with its key customers, which naturally deepens the relationship beyond a simple landlord/tenant dynamic. The development pipeline is a direct reflection of this strategy, with a focus on projects that are customer-driven and lower risk.

Development Metric	Value (Approximate)	Target/Example
Total Development Pipeline	Over $1 billion	Attractive opportunities
Active Projects	$500 million
From Strategic Partnerships	$200 million	Targeting 10-12% ROIC

A prime example of this intimacy is the automated expansion in Russellville, Arkansas, which was committed to a single customer under a 20-year agreement. Also, the Q1 2025 Houston acquisition was a catalyst for securing a new fixed commitment contract with one of the world's largest retailers. Furthermore, the $100+ million Kansas City facility, opened in August 2025, was enabled by partnerships with transportation giants.

High-touch, personal assistance for complex logistics needs.

The high-touch element is embedded in the value-added services Americold Realty Trust, Inc. provides, especially at its production-attached facilities. These services go beyond simple storage, helping customers manage inventory right at the source.

At these specialized locations, Americold Realty Trust, Inc. often provides services such as tempering, boxing, and blast freezing before storage. This operational involvement directly translates to better service margins. For instance, warehouse services revenue per throughput pallet increased by 4% in Q2 2025, and same-store warehouse services margins improved by 90 basis points year-over-year to 13.3% for the quarter ending June 30, 2025. The company plans to sustain these service margins above 12% for the full year 2025.

• The company won new business and converted over 80% of the previously announced $200 million probability weighted sales pipeline.
• The executive team includes a focus on commercial excellence and operational leadership.
• Investments in labor, training, and technology support the ability to flex labor with demands while maintaining productivity.

Americold Realty Trust, Inc. (COLD) - Canvas Business Model: Channels

You manage customer relationships through a dedicated, direct sales force engaging with approximately 3,200 customers across the globe. This approach emphasizes deep, long-term partnerships; for instance, the top 25 customers have an average relationship tenure exceeding 35 years. This direct channel is critical for securing the base business that underpins stability.

The physical reach of Americold Realty Trust, Inc. is defined by its extensive owned and operated network, which serves as the primary delivery mechanism for its core value proposition. Here's a quick look at the scale as of late 2025:

Channel Asset Metric	Quantity/Amount
Owned and/or Operated Warehouses	239
Total Cold Storage Space	Approximately 1.4 billion cubic feet
Q2 2025 Total Company Revenue	$650.7 million
Q3 2025 Total Company Revenue	$663.7 million

Strategic channel development includes co-location facilities and key logistics partnerships. The company launched development projects in Q2 2025, such as a facility in Kansas City in partnership with CPKC and a flagship build with DP World in the Port of Jebel Ali in Dubai. These locations are designed to capture high-demand import/export and major distribution flows, directly feeding the physical channel.

The third-party managed services segment acts as an extension of the primary warehouse channel, providing logistics services managed on behalf of customers. This segment, alongside the Warehouse and Transportation segments, contributes to the overall operational footprint. For the second quarter ended June 30, 2025, total company revenues were $650.7 million, reflecting the combined output of all service channels.

Customer concentration within the core warehouse channel shows reliance on a concentrated base for revenue stability:

• Top 25 customers account for approximately 50% of global warehouse revenue.
• Top 100 customers represent approximately 70% of total warehouse revenue.
• Rent and storage revenue from fixed commitments was 60% for Q2 2025.

Americold Realty Trust, Inc. (COLD) - Canvas Business Model: Customer Segments

You're looking at the core of Americold Realty Trust, Inc.'s value capture-who actually pays for that massive global cold storage network. It's not just one type of buyer; it's a spectrum across the entire temperature-controlled food supply chain.

Large-scale food producers and manufacturers.

This group relies on Americold Realty Trust, Inc. to hold inventory before it moves into the distribution network. The relationship depth here is significant, suggesting sticky, long-term contracts.

• Weighted average length of relationship with top 25 warehouse segment customers exceeds 35 years.
• The top 25 customers in the warehouse segment represented 49% of total warehouse segment revenues for the year ended December 31, 2024.

National and regional food distributors (e.g., Sysco, Performance Food Group).

Distributors are the crucial link between large producers and the final retail/food service outlets. Their need for consistent, reliable space drives Americold Realty Trust, Inc.'s operational stability.

The company serves approximately 3,200 customers globally across all segments.

Major food retailers and e-tailers (high-turn retail segment).

This segment demands high throughput and often requires specialized, modern facilities near population centers. Americold Realty Trust, Inc. is actively winning business here, often through strategic asset deployment.

• Completion of a Houston Warehouse Acquisition in the first quarter of 2025 enabled a Significant New Retail Customer Win.

Agricultural and perishable goods commodity traders.

Traders use the space for inventory management, often hedging against price fluctuations or managing seasonal gluts. Their business can be more volatile, which Americold Realty Trust, Inc. mitigates with contractual agreements.

Here's a quick look at how contractual arrangements secure revenue across these segments, as of late 2025 reporting:

Metric	Latest Reported Value	Period/Context
Fixed Commitment Storage Contracts as % of Rent and Storage Revenues	60%	Q3 2025
Fixed Committed Contracts/Leases as % of Total Warehouse Segment Revenues	61.9%	Q4 2024
Basis Point Increase in Fixed Commitment Revenue (YoY)	680 basis points	As of Q4 2024
Warehouse Segment Revenue from Top 25 Customers	49%	Year ended December 31, 2024

The focus on fixed commitments shows a clear strategy to lock in revenue streams against market volatility. If onboarding takes 14+ days, churn risk rises, but the 60% fixed commitment rate suggests a solid base.

Americold Realty Trust, Inc. (COLD) - Canvas Business Model: Cost Structure

You're looking at the major outflows that keep Americold Realty Trust, Inc.'s massive, specialized real estate and logistics network running. The cost structure here is dominated by capital intensity, which is typical for a REIT focused on mission-critical, temperature-controlled assets.

The foundation of Americold Realty Trust, Inc.'s costs lies in its physical assets. As of the end of 2024, the company operated 239 temperature-controlled warehouses globally, representing over $10 billion of critical cold storage infrastructure deployed worldwide. This scale translates directly into high fixed costs, primarily related to property ownership, insurance, and, critically, the energy required to maintain precise refrigeration temperatures across the entire network. While specific utility costs aren't broken out here, they are inherently a significant, non-negotiable operating expense for this business type.

Labor is the next major component, especially within the warehouse services segment. Americold Realty Trust, Inc. manages labor costs by flexing staff with demand; for instance, in the second quarter of 2025, the perm-to-temp hours ratio stood at 75-25, balancing dedicated, productive permanent staff with flexible temporary labor. The success of this management is reflected in the same-store warehouse services margin, which reached 13.3% in Q2 2025. Still, labor expenses remain substantial for handling, picking, and packing services.

Selling, General, and Administrative (SG&A) costs have seen specific pressure due to the ongoing transformation effort, Project Orion. This initiative, focused on technology systems like a new cloud-based ERP, has directly impacted the bottom line. For example, in the fourth quarter of 2024, SG&A included higher software costs related to Project Orion implementation and increased information security spending. This trend continued into 2025; the increase in SG&A expenses in the third quarter of 2025 was primarily related to the go-live of Project Orion. To give you a sense of the investment, in the first quarter of 2025 alone, there was an incremental licensing expense of approximately $4 million associated with the new technology environment, plus $3 million in expense labor costs that were capitalized the prior year under the project.

Capital expenditures are split between maintenance and growth. Maintenance capital expenditures (capex), which cover extending the life of existing assets, were $80.9 million in 2024. For the full year 2025, guidance has been adjusted; the Q3 update suggested a range of $60 million to $70 million, reflecting lower utilization-based preventive maintenance activities due to current throughput levels.

Finally, the cost of capital is a significant factor given the asset-heavy nature of the business. As of the second quarter of 2025, Americold Realty Trust, Inc.'s total net debt stood at approximately $3.9 billion. This debt load directly drives interest expense. For the full year 2025, the company provided guidance for interest expense in the range of $145 million to $149 million as of the third quarter update.

Here's a quick look at some of the key financial cost metrics we've seen:

Cost/Debt Metric	Reported/Guidance Period	Amount
Total Net Debt	Q2 2025	$3.9 billion
Maintenance Capital Expenditures (Guidance)	Full Year 2025 (Q3 Update)	$60 million - $70 million
Maintenance Capital Expenditures (Actual)	Full Year 2024	$80.9 million
Interest Expense (Guidance)	Full Year 2025 (Q3 Update)	$145 million - $149 million
Incremental Licensing Expense (Project Orion)	Q1 2025	$4 million

The operational costs associated with services are managed through productivity initiatives, which helped the same-store services margin improve to 13.3% in Q2 2025. The company is actively managing its variable cost structure to align with current demand softness.

Finance: draft 13-week cash view by Friday.

Americold Realty Trust, Inc. (COLD) - Canvas Business Model: Revenue Streams

You're looking at how Americold Realty Trust, Inc. actually brings in the money, which is critical since the cold storage sector has been seeing some demand softness heading into late 2025. The revenue streams are built around their core physical assets and the services they layer on top.

The top-line number for the most recent reported quarter, Q3 2025 Total Revenue was $663.7 million. That figure represented a 2% sequential increase from the second quarter of 2025, though it was down 1.6% year-over-year from Q3 2024.

The business model relies on four main buckets of income. The stability of the real estate side is a major focus, especially with the ongoing industry headwinds. For instance, Americold Realty Trust, Inc. has strategically increased its fixed-commitment contracts to account for 60% of its rent and storage revenues, which helps buffer against volume volatility.

Here's a look at the components, using the most granular data available from the Q2 2025 period to show the relative size, as the precise Q3 dollar breakdown isn't public yet:

Revenue Stream Category	Approximate Q2 2025 Revenue Amount	Relevant Context/Metric
Rent and storage revenue from warehouse space leasing	Largest component of the $597.71 million Global Warehouse segment revenue	60% of rent & storage revenue from fixed-commitment contracts as of Q3 2025
Warehouse services revenue (handling, labor, value-added services)	Part of the $597.71 million Global Warehouse segment revenue	Warehouse services margin was 10.6% in Q3 2025
Transportation services revenue	Approximately $56.85 million in Q2 2025	Experienced an estimated -6% decline YoY in Q2 2025
Third-party managed services fees	Approximately $9.63 million in Q2 2025	Showed a +2.9% growth rate in Q2 2025 estimates

You can see the reliance on the physical space. The Global Warehouse segment generated revenues of approximately $597.71 million in Q2 2025, which is the vast majority of their total sales.

The services side, while smaller in absolute terms, is important for margin performance. The warehouse services margin specifically declined year-over-year in Q3 2025. Still, management is focused on operational excellence to improve these figures.

Here are the key elements driving these revenue streams:

• Rent and storage revenue from warehouse space leasing is the most stable component, backed by the 60% fixed-commit rate.
• Warehouse services revenue is directly tied to throughput volumes, which faced pressure due to lower inventory levels across the supply chain.
• Transportation services revenue is sensitive to broader trade volumes and customer inventory management decisions.
• Third-party managed services fees represent a smaller, but growing, fee-based income stream from specialized management contracts.

For context on the trailing twelve months ending September 30, 2025, Americold Realty Trust, Inc. reported total revenue of $2.61 billion, which was down 2.58% compared to the prior twelve-month period.

Finance: draft 13-week cash view by Friday.