Lineage, Inc. (LINE), the temperature-controlled warehousing real estate investment trust, on Wednesday announced that FFO for the second quarter increased from the previous year.
For the second quarter, FFO increased to $91 million from $22 million in the previous year.
Adjusted FFO surged to $211 million from $136 million in the prior year. Adjusted FFO per share was $0.81 versus $0.75 last year.
Three analysts, on average, had expected the company to report loss of $0.12 per share. Analysts' estimates typically exclude special items.
Net loss attributable to the company narrowed to $6 million from $68 million in the prior year.
Loss per share was $0.03 versus $0.46 last year.
EBITDA declined to $277 million from $294 million in the previous year. Adjusted EBITDA decreased to $326 million from $334 million in the same period last year.
Net revenue increased to $1.35 billion from $1.34 billion in the previous year.
Nine analysts, on average, had expected the company to report $1.33 billion.
Looking ahead, the company had observed lower-than-expected seasonal inventory levels at the end of the second quarter and into early third quarter, prompting a lower outlook for the year.
For the third quarter, adjusted EBITDA is expected to range between $326 and $336 million.
The AFFO per share for the third quarter is expected to range between $0.75 and $0.79.
The company expected full-year 2025 adjusted EBITDA to range between $1.29 and $1.34 billion, while the previous guidance was in a range of $1.35 billion to $1.40 billion.
The adjusted FFO per share is anticipated to range between $3.20 $3.40, compared with the prior guidance of $3.40 and $3.60.
The Company's guidance excludes the impact of unannounced future acquisitions or developments.
On Tuesday, Lineage closed trading 2.99% higher at $44.44 on the Nasdaq.
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