Lineage, Inc. (NASDAQ: LINE), the world’s largest global temperature-controlled warehouse REIT, has announced its financial results for the fourth quarter and full year of 2024.

In the fourth quarter of 2024 Lineage posted a cumulative income of $1.3 billion. That’s an increase of 0.4 percentage increase compared to last year’s. Lineage reported an GAAP net loss of $80 million equivalent to $0.33 per share of diluted common shares. But, adjusted EBITDA rose by 9.8 percent, up to $335 million. the adjusted EBITDA margin of 220 basis points to 25.0 percentage. The Adjusted Funds From Operations (AFFO) witnessed a substantial growth of 147.7 percent, to $213 million. AFFO per share also increased, and AFFO per share climbed 72.9 percent to $0.83. The company has declared that it would pay a quarterly dividend in the amount of $0.5275 per share. This is an annualized rate at $2.11 for each share.

In the year 2024, Lineage reported a total of $5.3 billion, Lineage reported a total income of $5.3 billion. The figure was unchanged from the previous year. Lineage’s GAAP net loss of the entire year was $751 million, which is $3.70 per common share that was diluted. Adjusted EBITDA was up 4.0 percentage to $1.3 billion. This was accompanied by an adjusted EBITDA margin increasing 100 basis point to 24.9 percent. AFFO during the year grew 25.4 percentage up to $705 million. AFFO per share increased 6.5 percent to $3.29.

Greg Lehmkuhl, President and Chief Executive Officer of Lineage, Inc., expressed his satisfaction over the company’s results, noting that 2024 finished in a high note the fourth quarter’s adjusted EBITDA increasing by 10 percent. Lehmkuhl attributed the success due to the firm’s market dominance as well as operational efficiency and network effects that helped to increase margins and performance improvement. Lehmkuhl said Lineage’s staff was responsible with their devotion during what he termed the “transformational year” in spite of industry-wide challenges.

In 2025’s future, Lehmkuhl stated that Lineage will be well placed to consolidate its position as a leader in the Food supply chain. Lineage intends to keep offering high-quality service to its customers and improve operational efficiency by implementing efficiency in the workplace, lean operation as well as energy management strategies. In addition, Lehmkuhl emphasized the use of innovative technology as one of the key factors for improving customer satisfaction as well as internal processes.

Lineage is also affirming its investment-grade budget and outlook for financials and provides the ability to invest more than $1.5 billion of capital through 2025. It is anticipated that this capital will be used to fund Lineage’s development and acquisition pipeline. Lehmkuhl said that through an array of internal as well as external growth opportunities Lineage is in a good position to provide long-term growing shareholder returns.

The full-year 2025, Lineage expects adjusted EBITDA in the range of $1.35 billion to $1.40 billion. AFFO per share anticipated to be between $3.40 up to $3.60. Lineage has stressed that these projections don’t take into account unknown future acquisitions or new developments.

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For further information:

Megan Hendricksen

Lineage

Email: [email protected]

www.ir.onelineage.com