Lineage, Inc. (LINE), a temperature-controlled industrial REIT, on Wednesday reported a profit for the fourth quarter compared with a loss in the prior-year period, while revenue was broadly flat, mainly reflecting lower operating expenses and reduced foreign currency losses.
Net income attributable to Lineage was $6 million or $0.03 per share, compared with a loss of $71 million or $0.33 per share in the year-ago quarter.
Funds from operations or FFO increased to $78 million from $21 million last year, while core FFO declined to $134 million from $147 million.
Adjusted FFO was $214 million or $0.83 per share, flat with $213 million or $0.83 per share a year earlier.
EBITDA grew to $294 million from $176 million, while adjusted EBITDA dropped to $327 million from $335 million.
Total operating expense declined to $1.269 billion from $1.360 billion, and net foreign currency losses improved to $8 million from $30 million.
Income from operations was $67 million, compared with a loss of $21 million in the prior-year quarter.
Net revenues were $1.336 billion, compared with $1.339 billion last year.
The company declared a quarterly dividend of $0.5275 per share.
For 2026, Lineage expects adjusted EBITDA of $1.25 billion to $1.30 billion and Adjusted FFO per share of $2.75 to $3.00.
Lineage shares closed at $38.06 on Tuesday, up 2.62%.
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